The Perfect Travel and Expense Management Checklist


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PayStream Advisors and Ariba recently conducted a webinar highlighting how you can tune up your organization’s travel and expense processes. Travel and expense management guru Henry Ijams walked through PayStream’s checklist and share insights from their annual Travel and Expense Management Technology Insight report. It also includes a real-world case study on travel and expense management in the cloud.

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The Perfect Travel and Expense Management Checklist

  1. 1. Henry Ijams, PayStream Advisors Neil Krefsky, SAP Jon Miller, Westinghouse 1 Time for a Tune Up-The Perfect Travel and Expense Management Checklist
  2. 2. Henry Ijams Henry Ijams, CAPP/APM Managing Director PayStream Advisors, Inc. Mr. Ijams' 28 years of experience focuses on trends and technologies in financial operations automation including strategies regarding the automation and benchmarking of Purchasing and Payables processes. Neil Krefsky Sr. Director, Product Marketing SAP Cloud Mr. Krefsky is responsible for the development and execution of the product marketing strategy for SAP’s Cloud solutions for the finance line of business, including SAP Cloud for Travel and Expense, SAP Simple Finance, and SAP Business ByDesign. About the Speakers Neil Krefsky
  3. 3. John Miller Jon Miller Global Manager of Travel & Expense Westinghouse Electric LLC Mr. Miller has 12 years of experience in financial systems, manufacturing, accounting, and T&E. In addition, Mr. Miller has over 3 years of consulting experience, and over 9 years within the chemicals/nuclear industry. About the Speakers
  4. 4. Agenda • Managing Compliance • Trends in Receipt Capture and Mobile Approval • SAP Cloud for Travel and Expense • Westinghouse Case Study in Visibility Improvement • Perfect Travel & Expense Checklist • Big Data & Budgeting • Q&A 4
  5. 5. PAYSTREAMADVISORS Research and Advisory Services for Financial Operations: - Travel & Expense Management - AP Automation - P2P Peer Benchmarking - Electronic Payments - Receivables Document Management - eBilling - PayStream P2P Summit PayStream Research
  6. 6. Achieve Operational Excellence! Fact: Employee Expenses are the second largest controllable expense Opportunity: Need to lower operating expense Solution: Automate Spend Management Benefit: Significant Bottom line impact
  7. 7. PayStream’s Travel & Expense Benchmarking Report April 2014 This survey report is designed to: • Help accounting and finance practitioners familiarize themselves with the current Travel & Expense Management (TEM) landscape; • Allow companies to benchmark their operations against similar businesses. 7 Footnote: PayStream’s Travel and Expense Management Benchmark Survey was conducted in Q1 2014
  8. 8. Three Year Trend in T&E On average, there is a $12.58 difference in manually processed expense reports and automated ones
  9. 9. 2014 TEM Report Findings • “Current Processes are Effective” ranks as the number one reason why organizations have not automated their TEM process • Direct Deposit continues to increase as reimbursement method • Corporate credit card usage for travel and expense has increased significantly over the past 3 years
  10. 10. The Top 5 TEM Benchmarks • Use of Automation • Policy Expense Leakage • Travel Management Company Compliance • Cost per Voucher • Electronic Settlement %
  11. 11. What are the biggest challenges your organization faces in the expense management process? Manual data entry and inefficient processes and lack of visibility into spend are the biggest challenges in the manual T&E process.
  12. 12. What are the biggest benefits you have achieved with your TEM Solution? How do you process receipts?
  13. 13. Poll Question Where does Expense Automation fall within your finance or Human Resource priorities?
  14. 14. SAP Cloud for Travel and Expense
  15. 15. © 2014 SAP AG or an SAP affiliate company. All rights reserved. 15SAP InternalSAP Internal Plan the trip Trip approval Book the trip On Trip Expense Report Audit Approval Reimbursement SAP Cloud for Travel and Expense An end-to-end solution to automate your travel and expense management
  16. 16. 16 Westinghouse Proprietary Class 2 © 2013 Westinghouse Electric Company LLC. All Rights Reserved. SAP Cloud for Travel and Expense The Westinghouse Story
  17. 17. © 2014 SAP AG. All rights reserved. 17 The Business Case • Westinghouse’s need for more visibility on T&E based expenses globally • The need for real time integration (networks, cost centers, HR org data, push and pull) • Mobile device implementation for reviewing and approving expenses • 100% manager approval (pre/post) • Auditing, receipt thresholds, & oversight
  18. 18. © 2014 SAP AG. All rights reserved. 18 The Footprint • Global Implementation spanning multiple years and geographical locations • Approx. 12,500 employees worldwide • Approx. 125,000K expense reports created annually • 12 Countries (see Roadmap) • SAP ERP ECC 6.0 (key integration point) • SAP BW Reporting Platform
  19. 19. © 2014 SAP AG. All rights reserved. 19 Expense Reporting Consolidation via SAP Cloud for Travel and Expense • Consistent audit rules and expense types • Improved spend visibility via dashboard reporting • Mobile device expense management • Real Time Integration The Roadmap
  20. 20. © 2014 SAP AG. All rights reserved. 20 Poll Question What barriers are you facing in automating expense management?
  21. 21. © 2014 SAP AG. All rights reserved. 21 Internal Challenges • Master data cleansing effort to ensure standardization and limited customization – Standard use of fields in ERP help reduce integration to CfT • Statutory compliance by country – Local Country Tenants have meet all statutory requirements • Global T&E policy with In-Country Appendices – Ensure your policy drives compliance – Build the tool around your policy • Change management by location – Ensuring you engage your counterparts early and often • Training – Train the trainer approach through the use of power user groups – Creating training materials for a global implementation without translating into native tongue
  22. 22. © 2014 SAP AG. All rights reserved. 22 Key Enabling Features • Mobile Device Apps – Approvals, report submissions, real time CfT and SAP integration • Real Time Expense data feed into SAP ERP – Allows for more accurate and timely financials – Data flow, only relevant cost objects are transferred between systems. • SAP support throughout the project – Issue resolution – Helped bring functionality that was a requirement of Westinghouse into the tool • US GSA based Per Diem • Participated in User Interface focus groups (Rot, Germany)
  23. 23. © 2014 SAP AG. All rights reserved. 23 Attention to detail matters • Post Go-Live checklist – What are the required maintenance tasks? • Credit card error cleanup • IDOC errors – How often to you need to do them? • Delay can result in downstream issues – AMEX payment delay – Per Diem payment delay – Unhappy travelers • Rigorous testing scenarios need to be built by country – Each country should have their own set of testing to ensure it meets local needs • Know your reporting needs • Ensuring the tool is ready by location (SAP has a release schedule for all countries) – Language capabilities – Statutory features are enabled by country
  24. 24. TEM Checklist • Pre-Trip Authorization • Online Booking Integration • Mobile Functionality & User Interface • Expense Reporting • Approval • Reconciliation & Reimbursement • Analytics & Benchmarking • Customer Support
  25. 25. 2014 and Beyond… • New features and “open app” marketplaces will continue improve functionality of TEM solutions • Costs to process fully automated expense reports will continue to decrease • Management Budgeting from Improved Data Access
  26. 26. Questions? Henry Ijams Neil Krefsky Jon Miller