The Royal Mint is a progressive organisation that applies world leading technology and processes in the production of its coins. Spurred by the Freedom of Information Act, it chose Concur Travel & Expense as being the most advanced on the market. Some of the main drivers being its ease of implementation and operation for both users and back office and the ability to produce instant expense auditing.
Like many long-established organisations, The Royal Mint still operating a manual expenses system, whereby users made claims on expense forms supported by accumulated receipts. This led to the usual problems of error, invalid claims and mislaid receipts and also time spent waiting for sign-off at managerial level.
For the accounts team, claims-tracking was a time intensive process and expenses auditing was retrospective. Not only that The Royal Mint, like many organisations, was effectively under-claiming on VAT due to the limitations of its manual system. Producing up to date information on aspects of operations such as expense expenditure, was something which the existing system simply wasn’t up to.
Erroneous expense claims would be sent back to the claimant for correction, frequently leading to long delays as the user may be too busy or misinformed as to company policy. Now, such claims can be dealt with without delaying overall reimbursements to the user.
The Royal Mint was established over a thousand years ago and is responsible for the design and production of the coinage that we use in everyday life. The Royal Mint also produces commemorative coins and medallions such as the Gold, Silver and Bronze medals for the 2012 London Olympics. The organisation has some 850 employees, each one a potential expense user, although only 100 of these are authorised company credit card holders. There are approximately 150 expense claims per month.