Revenue: $500 M+
Locations: United States and United Kingdom
Challenges: This entertainment powerhouse was using Excel-based expense reporting with paper receipts. Employees would sometimes use a corporate card to book air travel and pre-paid hotel charges, and didn’t have to reconcile those expenses on an expense report. Reporting on expense spending was virtually non-existent.
After a full audit, it was strongly recommended that the company put in automated systems to manage both expense reporting and travel booking.
Technical Needs: The company required a solution to automate the workflow from submission of expense reports to approvals, through to the accounting team for reimbursement and reconciliation with the accounting system. The ability to integrated and reconcile corporate credit card charges was important. The company was also interested in a robust reporting system to better manage travel and entertainment spending.
ExpenseWatch Solution: The company implemented ExpenseWatch Expense reports. As it has grown, it has more than doubled the usage of the system, and added the custom reporting module for specialized reports.
The company chose ExpenseWatch because of its integration with Egencia and its desire to implement an end-to-end solution to manage travel booking through to expense report creation and reimbursement. Because ExpenseWatch is able to integrate booked travel data from Egencia as well as corporate credit card charges, employees can easily create expense reports by dragging and dropping charges to create expense lines. Most of the information is automatically populated saving employees a lot of time.
As expense reports are completed and routed, they automatically move to approvers set up within the system. Approvers can approve line-by-line sending approved reports onto the accounting team and rejected items back to report submitters to rework. The accounting team can easily integrated expense data into both accounting and payroll systems for speedy reimbursements.
The company uses many of the pre-built reports in the system to track and manage expense spending. It recently added the ExpenseWatch Custom Reporting module to create specialized reports specific to its business needs.
620 W. Germantown Pike
Plymouth Meeting, PA 19462
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HOW SMBS CAN MANAGE COMPANY SPENDING
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