If paper receipts litter your expense process and you rely on spreadsheets to manage this business critical function, you’re not alone. Many companies in the UK are wising up to the cost and time savings that an automated expense system can bring – but where do you start? This essential guide covers everything you need to know about automating your expenses with handy tips of what to look out for. You’ll discover:
• The hidden costs behind a manual process
• The blueprint of a best practice expense solution
• How mobile apps eliminate the need for paper receipts
• How finance can ensure HMRC compliance
• How to cut the time, effort and costs associated with the expense process
Understanding how you spend and reconcile your money is how you begin to: take control of your T&E expenses, ensure internal policy and external regulatory compliance, and set your strategy. Discover how easy it is to reduce your risk as you’re no longer the slave to the administration process, but rather the master of the direction your company will take financially with the Concur Travel and Expense solution.
Hear from our customers on how choosing Concur has helped them to gain efficiency and productivity.
Hear from our customers on how Concur has helped them to gain both visibility and cost control of their T&E process.
Increase compliance and gain a 100 per cent receipt audit
The biggest benefit in terms of integrating Concur with the CliqBook would be in terms of productivity. That the employees would be able to indeed have those travel-related needs integrated into Concur, and it would give them big benefits that they don’t need to input their transactions on the itinerary back into Concur again. The biggest benefit which comes out of this global deployment is in terms of the management information reporting. That now we can have those reportings available for the real management, and we can do better analysis of the expenses which are incurred.
BAE Systems is a global company. We have over 100,000 employees across the world. Historically, we had a legacy based system using paper, and people were sort of forward about doing their expenses, filling it out by hand and then posting it to the line manager, who may be sitting in another part of the country, or another country. When we set out on our journey to look at expense systems, we evaluated a number of market leading solution providers, which are European based or which are based in other countries.
Concur is user-friendly, offers huge cost savings, and gave our users control
Our old expense reporting process, it took a lot of time and was sort of horrendous. Us in the back end, pulling them together, aggregating the categories, and trying to make some sense of what we had coming in from the field. And I would often put it off for three months as just an awful experience. I had a couple Hallelujah emails when we decided to switch to Breeze, because they were waiting for something that would make their life easier. And yet Breeze gives you the sophistication you need with the ease for the person in the field.
Popchips is a manufacturer of Pop Potato Snacks.On a monthly basis about 50 employees submit expense reports. Our old expense reporting process was a spreadsheet based process where each employee would have to manually enter each expense line item, attach the receipts, then physically mail it to their approving manager. Which could be in a totally different state. From there they'd then have to mail it to us once it was finally approved for processing. Our employees used to complain about the time it would take to complete their expense report, as well as getting their money back.
Concur surveyed members of the Institute of Chartered Accountants in England and Wales (ICAEW) about their use of financial technology. Based on the results, it seems that there are two kinds of finance departments in the UK. Download this info graphic to find out which kind of company you are.
Did you know that employee expenses cost the UK economy an estimated £8.2bn every year. View this infographic to see how much your current expense process may be costing your business and discover a new way, which could actually be a source of hidden cash, that could improve your balance sheet.
Find out how T&E automation can reduce bottom line costs - it's easier, quicker and more cost effective than you think.
Expenses can be expensive. And if not handled efficiently, the costs to your business can quickly mount up – employees and the finance team waste time on admin-heavy tasks, inaccurate and exaggerated expenses slip through the net, and if HMRC pay a visit, can you really be confident your expense process is compliant?
In this eBook we explore five top tips that help the finance team cut costs and drive greater control of your employee expenses. You’ll uncover new insights you may not have considered on your journey to a more streamlined and automated expenses process.
If you’re looking for insights on VAT and HMRC compliance best practice when it comes to employee expenses, look no further. This comprehensive eBook lays out everything you need to know to keep the taxman happy.
• Exactly what the taxman is looking for
• Tricky VAT rules to watch out for
• How to reclaim VAT on fuel
• The deal with international VAT, and
• How technology can help with VAT reclaim
Written by a tax expert, this guide captures all the basics and contains handy links to useful sources.