Travel and Expenses Management Challenges
Overdue reimbursements, poor data visibility into employees’ expenses, and time-consuming approval processes are just some of the travel and expense (T&E) management challenges companies today face.
Staff, management, and accountants are facing challenges such as:
Staff
- Complex reimbursement process
- Time-consuming approval process
- Inconveniences of keeping large amount of printed invoices, and storage
- Inefficient manual expense management processes, such as importing item-by-item reimbursement details into the office automation system
Management
- Lack of data visibility and cost control, leading to over-budgeted expenses
- Burden on finance team and managers to constantly remind and approve staff reimbursements
Accountant
- Tedious process for accountants when they have to constantly log in to VAT invoice platform
- Manual systems can be time-consuming and prone to errors
- Ensure reimbursements comply with the company's policies
Preparatory work
- Research and evaluate systems in the market
- Test the system
Services
- Current business procedures assessment
- System implementation and maintenance
- Staff training
- Compliance check on fapiao for staff reimbursement
- Uploading of payment request to online banking system
- Manual payment application to banks
You do not need to put together an IT team or engage software vendors to build an effective T&E system. From system testing, reviewing of your company’s policies and procedures, to system implementation, we provide end-to-end solutions that meet your needs. Our easy-to-use T&E management solutions allow you to monitor day-to-day, travel-related expenses, and keep them in compliance with your company’s regulations.
Procurement to Payment (PTP)
T&E System
- Online Archiving
- Online Approvals
- OCR Uploading
SBA Dedicated Accounting Team
Payment Processing
- Uploading of payments to online banking system
- Manual payment application to bank
- Release of payments by clients' management
Financial Data
- Budgeting and expense control for staff
- Expenses reporting by different cost centres or segments
Improve Expense Management Efficiency
- Adopt an E-Claim System to reduce staff reimbursement-related activities of up to 75%
- Leverage Optical Character Recognition (OCR) technology to extract fapiao’s information and upload these information onto the E-Claim System
- Put in place an online approval process management system and simplified reimbursement procedure
- Digitise fapiao using an E-Claim System and store the digitised fapiao in the system to achieve 100% compliance with regulations from tax authorities
- Control expenses in real time, and churn out multi-dimensional reports to support decision making