Revenue: $500 M +
Locations: 80 Worldwide
Challenges: This medical supply company is growing quickly in the US and rapidly expanding into international markets. With many international travelers, it needed an expense reporting system that would grow with it, and also handle the many nuances of international travel.
The company’s employees were unhappy with the automated expense reporting system it was using citing difficulties with the user interface and how long it was taking to actually submit a report. The finance team didn’t want to pay the extra fees to support international travel requirements.
Technical Needs: To support its international requirements, the company needed a system that could capture VAT taxes and manage currency exchanges. They needed a system that could integrate with its payroll company to reimburse employees, accept corporate credit card feeds to integrate charges with employee expense reports, and manage up to three levels of approvals. The company also had specialized reporting requirements to be able to track spending.
ExpenseWatch Solution: This company deployed ExpenseWatch Expense Reports. Since implementing the ExpenseWatch system almost ten years ago, the company has expanded to new markets and opened numerous international offices.
ExpenseWatch offers comprehensive multi-currency capabilities, allowing employees to submit receipts in hundreds of currencies. The system automatically calculates reimbursements to either local or to US currency. The system can be set up to calculate the currency conversion based upon either receipt date or the day the receipt is uploaded into the system.
The expense management solution tracks VAT and other international taxes making it easy for the company to reimburse and track/report on international taxes.
User adoption across the company is high and employees say they find the interface easy to use. In fact, having corporate credit card charges integrated with the expense system speeds expense report creation for users.
Multi-level approval structures provide the level of scrutiny and structure the company needs to ensure spending stays within policy. Expense information easily integrates into the companies’ payroll system for timely reimbursements.
So far, the company has found the pre-built reports provided with the Expense Report module have been able to serve its needs. The accounting team appreciates that a new custom reporting module is available should the company require more specific reports.
620 W. Germantown Pike
Plymouth Meeting, PA 19462
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