Cloud telephony provider Knowlarity has a large number of employees who travel on the company’s behalf and file reimbursement claims for the expenses incurred. But these travel expenses were being processed manually, and hence it would typically take around 15-20 days for Knowlarity to reimburse business expenses.
From funding business trips, and tracking expenses, filing expense claims, verifying expense reports and managing reimbursements a lot of time was being wasted for the management, employees and accounting team.
Employees had to wait for approvals before going on trips, and waste valuable time organising expense receipts and filing reports. Accounting teams had to physically match receipts with reports, verify them and enter the data manually into their accounting system. At times the process also resulted in errors. Furthermore, the management had no visibility or control over employee expenses. It was difficult to manually enforce different policies and limits for each employee.
Knowlarity needed a better way to manage employee travel expenses. They chose to go with Happay travel and business expense management solution with which they have streamlined their entire reporting cycle and have managed to reduce time take for reimbursement by 87% to just 2 days.