Cloud Computing – Keeping Travel and   Entertainment Budgets in Check
Sanjay Parekh, Managing Director at WebExpenses, analyses the positiveeffects of cloud-computing technologyfor keeping Tra...
   A series of studies paint a picture of:     Embarrassing loopholes in employee expenses rules     Unchecked expense ...
   A quarter of all employees admit to making exaggerated claims   Deloitte found that widespread expenses fraud is cost...
   Businesses attempt to combat spiralling claims, by pre-planning    employee trips on company cards; but to no avail  ...
   Opportunities to obtain hefty discounts with travel firms for bulk    bookings or long-term custom, are missed as busi...
   Firms rely on employees to submit evidence alongside expenses    claims without policy reminders, which employees are ...
   Good news is that we know from the research and experience that    this can be changed   By switching from red-tape t...
   Cloud-based solutions are changing the way companies do    expenses management –     Expenses can be populated direct...
   When Spring Group trialed WebExpenses, the results were so    dramatic that they rolled it out immediately globally  ...
You can connect with WebExpenses onGoogle+, LinkedIn, Twitter, Facebook,            and YouTube
Upcoming SlideShare
Loading in …5
×

Digital War on Waste

731 views

Published on

Sanjay Parekh, Managing Director at WebExpenses, analyses the positive effects of cloud-computing technology for keeping Travel and Entertainment budgets in check.

Published in: Technology, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
731
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • Something is deeply wrong at the heart of company finance systems
  • even this fails to stop the dizzying array of extra claims.
  • Digital War on Waste

    1. 1. Cloud Computing – Keeping Travel and Entertainment Budgets in Check
    2. 2. Sanjay Parekh, Managing Director at WebExpenses, analyses the positiveeffects of cloud-computing technologyfor keeping Travel and Entertainment budgets in check.
    3. 3.  A series of studies paint a picture of:  Embarrassing loopholes in employee expenses rules  Unchecked expense claims  FDs using outdated processes to wade through mountains of data  Widespread fraud and digital wasteSomething is deeply wrong at the heart of company finance systems
    4. 4.  A quarter of all employees admit to making exaggerated claims Deloitte found that widespread expenses fraud is costing UK businesses in excess of £1.3 billion a year Experts believe that this could just be the tip of the iceberg, as many companies admit to checking less than 2% of expenses claims A quarter of SMEs say they would not be confident if compelled to account for their employees expenses to HMRC
    5. 5.  Businesses attempt to combat spiralling claims, by pre-planning employee trips on company cards; but to no avail From rounding up trips, to generous, mystery tips, unexpected out-of-pocket extras, and shock receipts, there is an extensive list of employee expenses tricks TMC, a mileage audit and fuel travel cost company, estimates drivers inflate the cost of business journeys by up to 25% All these coupled with changes to the travel sector, mean that many companies are leaking money
    6. 6.  Opportunities to obtain hefty discounts with travel firms for bulk bookings or long-term custom, are missed as businesses fail to keep track of expenditure across the board Travel companies frequently conceal costs by unbundling deals, leaving travel bookers unaware of potential extra expenditure A significant proportion of companies still manually file data in hard copies, thereby increasing the risk of lost records When complex claims are submitted across multiple currencies FDs find it impossible to maintain the necessary paper trail to ensure compliance
    7. 7.  Firms rely on employees to submit evidence alongside expenses claims without policy reminders, which employees are unaware of With the result 9% of expenses claims are incorrect In an environmentally-conscious age, the increasing number of fraudulent travel claims means that FDs cannot place a figure on their employee’s carbon footprint As a result companies lacking the evidence to defend themselves against dubious claims and may have to start cutting jobs instead of T&E budgets
    8. 8.  Good news is that we know from the research and experience that this can be changed By switching from red-tape to automated expenses-management systems, the Aberdeen Group reckons companies can slash their admin costs by over 50% This has also increased compliance by up to 30%, as companies can conduct best-practice audits, and instantly reimburse employees
    9. 9.  Cloud-based solutions are changing the way companies do expenses management –  Expenses can be populated directly from corporate-credit cards to company accounts  Advanced mapping is used to accurately gauge mileage and carbon footprint Now, mobile apps –  Reduce processing costs by up to 50%  Give employees the ability to submit claims and evidence on the move  Enable companies to monitor claims in real-time from anywhere, reimburse employees instantly, conduct audits, swiftly spot emerging trends and inconsistencies and block inaccurate claims
    10. 10.  When Spring Group trialed WebExpenses, the results were so dramatic that they rolled it out immediately globally WebExpenses now supplies in excess of 300 companies with cloud-computing expenses solutions, in over 60 countries WebExpenses cannot eradicate fraud as ultimately every technology depends upon a degree of trust in its users; but it will help you fight it It offers companies a golden opportunity to cut waste and restore probity to finances
    11. 11. You can connect with WebExpenses onGoogle+, LinkedIn, Twitter, Facebook, and YouTube

    ×