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Leveraging New Technology to Simplify Expense Report Management for Employee and Managers

See the current travel and entertainment expense management practices used by leading finance professionals and organizations in the U.S. See how finance professionals are leveraging technology to drive down travel and entertainment (T&E) costs and increase visibility into employee spend.

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Leveraging New Technology to Simplify Expense Report Management for Employee and Managers

  1. 1. www.certify.com Leveraging T&E Technology to Simplify Processes
  2. 2. www.certify.com Leveraging T&E Technology to Simplify Processes • Understand current and emerging technologies surrounding T&E management • How companies are utilizing expense report software to drive policy compliance rates up and simplify processes for employees and managers • The best practices of T&E automation with Certify’s platform Learning Objectives After attending this event you will be able to:
  3. 3. www.certify.com Leveraging T&E Technology to Simplify Processes • Today’s event will be recorded and all attendees will be kept in listen-only mode to eliminate excessive background noise. • Links to today's presentation and the recording of this webinar will be sent out to all attendees within 24 hours of the event. • Please ask questions on today's topic via the "Questions" box in your GoToWebinar control panel at any time during the event. We will do our best to get to your questions during the Q&A/panel discussion at the end of the event. If we do not get to your question, we will follow up with you directly to address your question. Webinar Event Notes
  4. 4. www.certify.com Leveraging T&E Technology to Simplify Processes In 2008, Bob and his team launched the Certify product featuring mobile technology and web-based automation. Certify has accelerated its position to become the second largest provider of expense reporting software in North America. Robert Neveu President & Co-founder Speaker
  5. 5. www.certify.com Leveraging T&E Technology to Simplify Processes About Certify • Industry-leading with first fully automated expense system • Providing travel & expense solutions since 2008 • 64 languages, 140+ currencies, clients in 18 countries • Highest User Satisfaction Rating , G2Crowd 4.8 out of 5 • Over 15 million expense transactions in 2013 • Processing over $5 billion/ year in expense reports Featured in:
  6. 6. www.certify.com Leveraging T&E Technology to Simplify Processes T&E Expenses: Leveraging Technology to Simplify Expense Reporting Processes for Employees and Managers Learn the latest trends in travel and expense management software for 2014. Presented by Certify, Travel and Expense Made Easy. Today’s Topic
  7. 7. www.certify.com Leveraging T&E Technology to Simplify Processes Current Expense Management Trends • Travel and entertainment (T&E)—second only to payroll as the largest business expense, accounts for 10%-12% of total annual budget • Roughly 50% of organizations in U.S. are using manual processes to manage their T&E spend and budgets • 59% of organizations want to improve their expense management process • 62% of organizations want better analytics and insight into T&E spend • Only 30% of organizations utilize mobile expense applications *data derived from a 2014 Certify research report, “Certify's Annual Travel & Expense Management Trends Survey”
  8. 8. www.certify.com Leveraging T&E Technology to Simplify Processes How do organizations currently manage their travel and expense reporting? Poll Question
  9. 9. www.certify.com Leveraging T&E Technology to Simplify Processes 44% 29% 18% 5% 4% Cloud/Web-Based Excel/Spreadsheets ERP Home-Grown Pen & Paper Expense Management Process How do organizations currently manage their travel and expense reporting?
  10. 10. www.certify.com Leveraging T&E Technology to Simplify Processes 44% 29% 18% 5% 4% Cloud/Web-Based Excel/Spreadsheets ERP Home-Grown Pen & Paper Expense Management Process How do organizations currently manage their travel and expense reporting?
  11. 11. www.certify.com Leveraging T&E Technology to Simplify Processes 44% 29% 18% 5% 4% Cloud/Web-Based Excel/Spreadsheets ERP Home-Grown Pen & Paper 2013 to 2014 Comparison 35% 35% 12% 7% 11% Cloud/Web-Based Excel/ Spreadsheets ERP Home Grown Pen & Paper 2013 2014
  12. 12. www.certify.com Leveraging T&E Technology to Simplify Processes The Divide Between Small Business & Enterprise 17% 67% 0% 8% 8% Pen & Paper - 17% Excel/Spreadsheets - 67% Home-Grown - 0% ERP - 8% Cloud/Web-Based - 8% 2% 16% 8% 22% 52% Pen & Paper - 2% Excel/Spreadsheets - 16% Home-Grown - 8% ERP - 22% Cloud/Web-Based - 52% 2% 29% 4%16% 49% Pen & Paper - 2% Excel/Spreadsheets - 29% Home-Grown - 4% ERP - 16% Cloud/Web-Based - 49% Expense Process by Company Size
  13. 13. www.certify.com Leveraging T&E Technology to Simplify Processeswww.certify.com | @certify $41.70 per expense report $7.17 per expense report MANUAL WEB-BASED EXPENSE 50% compliance to T&E policy 87% compliance to T&E policy 30% visibility into spend 61% visibility into spend 64% automated reimbursement 86% automated reimbursement 62% documented path of approvals 88% documented path of approvals 19 Days average reimbursement 7 Days average reimbursement VS. Reference: Aberdeen Group 2013, T&E Solution Selection Guide The Ultimate Technology Showdown: Why Switch: The Benefits
  14. 14. www.certify.com Leveraging T&E Technology to Simplify Processes Reason for Switching Driving force before the switch to web-based system 0% 10% 20% 30% 40% 50% Reimburse employees faster Improve employee compliance rates to corporate travel policies Provide an expense system accessible from anywhere Simplifying the expense reporting process 3 years of data, 3 surveys conducted with responses from over 800 finance professionals, every year #1 reason for switching to a web-based expense management system is to simplify processes for employees and managers.
  15. 15. www.certify.com Leveraging T&E Technology to Simplify Processes Snapshot of a manual process 1. Employees save paper receipts and keys data into an expense spreadsheet, staple receipts to printed report and mail to their manager 2. Manager reviews the report, matching each receipt to each line item expense, checks for violations and approves; report is sent to Accounting for reimbursement 3. Accountant reviews the report, reconciles the data, manually keys the data into the accounting system and cuts a check for reimbursement • Employees lose receipts & fail to submit reports on time • Manually checking for violations allows room for human error • The time it takes to manually key in expense data into accounting system • Limited to no access into spend reporting Well, what’s the issue with the process above?
  16. 16. www.certify.com Leveraging T&E Technology to Simplify Processes Top Pressures & Pain Points T&E Pain Points
  17. 17. www.certify.com Leveraging T&E Technology to Simplify Processes Utilize Technology to Simplify Processes For the Employee • Mobile application for on-the-go receipt capture, eliminating paper receipts • Access to creating, managing and submitting expense reports from anywhere in the world • Schedule expense report build days, eliminating late reports • Reimburse employees directly using direct deposit, no more paper checks For the Manager & Accountants • Review and approve expense reports instantly using your mobile device, no more spreadsheets and paper reports • Set and enforce corporate T&E policies • Integrate with your current AP and HR systems, eliminating manually keying in expense data • Instantly create spend reports, no more number crunching
  18. 18. www.certify.com Leveraging T&E Technology to Simplify Processes Utilize Technology to Simplify Processes • Mobile Applications - Eliminate paper receipts and manual data entry for employees • Expense Report Automation - Build expense reports on the employees’ behalf • Policy Enforcement - Enforce travel and entertainment policies • Integrations - Eliminate manual data entry for accountants • Direct Deposit using ACH Services - Reimburse employees quickly • On-Demand Reporting - Gain insight into company spend with instant reporting
  19. 19. www.certify.com Leveraging T&E Technology to Simplify Processeswww.certify.com | @certify • Eliminate paper receipts • Manage and track expenses while on the road • Eliminate manual data entry • Review and approve reports on-the-go Users of mobile expense applications have reduced their expense-processing costs by 65% and reimbursed expenses at 40% rate than companies not currently leveraging mobile. “The use of Certify Mobile has altogether eliminated the lost receipts by employees.” -Glenn Foster, Zoll Mobile Applications Utilization of Mobile applications can:
  20. 20. www.certify.com Leveraging T&E Technology to Simplify Processes Do the business travelers in your organization currently use mobile devices to capture and track expenses while on the road? Poll Question
  21. 21. www.certify.com Leveraging T&E Technology to Simplify Processes • Manage and track expenses from anywhere, anytime • Eliminate paper receipts, storing and filing receipt images electronically • Eliminate manual data entry: – ReceiptParse – Auto-fill technology extracts expense details instantly – Based on historical data, the system will categorize certain vendors under certain categories – Meal attendees are stored • Managers can approve expense reports directly from their mobile device Mobile Applications Certify’s Mobile Application Allows you to:
  22. 22. www.certify.com Leveraging T&E Technology to Simplify Processeswww.certify.com | @certify Certify’s ReceiptParse Functionality
  23. 23. www.certify.com Leveraging T&E Technology to Simplify Processes Utilize Technology to Simplify Processes • Mobile Applications - Eliminate paper receipts and manual data entry for employees • Expense Report Automation - Build expense reports on the employees’ behalf • Policy Enforcement - Enforce travel and entertainment policies • Integrations - Eliminate manual data entry for accountants • Direct Deposit using ACH Services - Reimburse employees quickly • On-Demand Reporting - Gain insight into company spend with instant reporting
  24. 24. www.certify.com Leveraging T&E Technology to Simplify Processeswww.certify.com | @certify Expense report automation is the #1 feature CFO and Finance professionals look for when selecting a vendor (64% of CFOs say it is the #1 most important feature) Largest pain point surrounding T&E is employeess failure to submit expense reports on time (50% of companies say this is the #1 pain point) Expense Report Automation
  25. 25. www.certify.com Leveraging T&E Technology to Simplify Processeswww.certify.com | @certify Merging multiple expense elements into a single expense item Auto-Merge Single Expense Travel Booking Details Credit Card Expense Auto-Merging of Data Receipt of Payment
  26. 26. www.certify.com Leveraging T&E Technology to Simplify Processes Introducing a first of its kind, Auto-Generated Expense Reports with Certify ReportExecutive™ Certify ReportExecutive™ brings automatic expense reports to your entire company. 1. Schedule Company-Wide Automatic Expense Report Build Dates 2. Schedule Reminder Notifications for Employees 3. ReportExecutiveTM will automatically build expense reports for end users 4. The user will then be notified by email and directed to review the expense report and submit it for approval. Auto-generated Reports
  27. 27. www.certify.com Leveraging T&E Technology to Simplify Processes Schedule Automated Expense Reports Company-Wide Scheduling: Administrators determine the company-wide automation schedule, specifying the automatic build date and date by which expense reports must be submitted. Flexible Scheduling: Administrators can allow individual employees to opt out of company-wide automation schedules or select their own schedule, providing maximum flexibility while still benefiting from automation. Certify Administrators can specify a company-wide schedule for automatic expense reports to be completed. ReportExecutive™ is available with the following scheduling options: Certify’s ReportExecutive
  28. 28. www.certify.com Leveraging T&E Technology to Simplify Processes Utilize Technology to Simplify Processes • Mobile Applications - Eliminate paper receipts and manual data entry for employees • Expense Report Automation - Build expense reports on the employees’ behalf • Policy Enforcement - Enforce travel and entertainment policies • Integrations - Eliminate manual data entry for accountants • Direct Deposit using ACH Services - Reimburse employees quickly • On-Demand Reporting - Gain insight into company spend with instant reporting
  29. 29. www.certify.com Leveraging T&E Technology to Simplify Processes Automated Policy Enforcement • 49% of companies name top financial pressure to improve compliance to company policies • Organizations utilizing web-based expense systems have a 37% higher rate of compliance to corporate travel policies (upwards of 95% compliance to T&E polices) • Those using cloud expense systems experience on average 87% compliance rates to travel policies • Set your travel policies within Certify and let Certify enforce your policies • Out-of-policy expenses will be flagged for manager’s review Reference: Aberdeen Group 2013, T&E Solution Selection Guide Policy Enforcement
  30. 30. www.certify.com Leveraging T&E Technology to Simplify Processes
  31. 31. www.certify.com Leveraging T&E Technology to Simplify Processes Eric Newman Corporate Controller Saddle Creek Logistics 500 Employees Client since 2011 The Solution: Streamlined Functionality Brings Client into Future of Expense Management • Switched due to slow reimbursements with previous process and wanted a scalable process with reporting • Employees now receive reimbursements 5-7 days sooner • Saving over $40,000 from avoiding duplicate and out-of-policy payments • No longer needed fulltime accountant for data entry “Certify is truly an intuitive and easy-to-use tool, but above all the company is so reactive to correct or respond to customer input.” Certify Case Study
  32. 32. www.certify.com Leveraging T&E Technology to Simplify Processes Utilize Technology to Simplify Processes • Mobile Applications - Eliminate paper receipts and manual data entry for employees • Expense Report Automation - Build expense report on the employees’ behalf • Policy Enforcement - Enforce travel and entertainment policies • Integrations - Eliminate manual data entry for accountants • Direct Deposit using ACH Services - Reimburse employees quickly • On-Demand Reporting - Gain insight into company spend with instant reporting
  33. 33. www.certify.com Leveraging T&E Technology to Simplify Processeswww.certify.com | @certify Reference: http://www.gbta.org/foundation/pressreleases/Pages/rls081711.aspx • 42% of companies name the need for integrations as the most important reason for making the switch to cloud systems • Integrations eliminate or reduce manual data entry between systems • Improve accuracy of data • Remove multiple interfaces • Eliminate duplications of data Integrations
  34. 34. www.certify.com Leveraging T&E Technology to Simplify Processes
  35. 35. www.certify.com Leveraging T&E Technology to Simplify Processes
  36. 36. www.certify.com Leveraging T&E Technology to Simplify Processes Utilize Technology to Simplify Processes • Mobile Applications - Eliminate paper receipts and manual data entry for employees • Expense Report Automation - Build expense report on the employees’ behalf • Policy Enforcement - Enforce travel and entertainment policies • Integrations - Eliminate manual data entry for accountants • Direct Deposit using ACH Services - Reimburse employees quickly • On-Demand Reporting - Gain insight into company spend with instant reporting
  37. 37. www.certify.com Leveraging T&E Technology to Simplify Processes Reimbursement Times Reimbursement Timeline (Days)Companies using web-based expense management systems have speed up their employee reimbursement times by 32% Faster reimbursements = more frequently submitted expense reports by employees (42% of companies indicated an increase in frequency of reports being submitted when using ACH reimbursements with the web-based system)
  38. 38. www.certify.com Leveraging T&E Technology to Simplify Processes
  39. 39. www.certify.com Leveraging T&E Technology to Simplify Processes Utilize Technology to Simplify Processes • Mobile Applications - Eliminate paper receipts and manual data entry for employees • Expense Report Automation - Build expense report on the employees’ behalf • Policy Enforcement - Enforce travel and entertainment policies • Integrations - Eliminate manual data entry for accountants • Direct Deposit using ACH Services - Reimburse employees quickly • On-Demand Reporting - Gain insight into company spend with instant reporting
  40. 40. www.certify.com Leveraging T&E Technology to Simplify Processes 55% of all organizations name main priority for 2014 to enhancing visibility into overall travel/expense spending Top financial pressure in finance department is to improve compliance rates followed by enhance expense management analytics (47% of organizations name it a top pressure) With Certify Spend Reporting & Analytics Over 40 reports available with 10 selection options per report • Expenses by employee • Processed expense reports • Expenses by category Reporting & Analytics
  41. 41. www.certify.com Leveraging T&E Technology to Simplify Processes
  42. 42. www.certify.com Leveraging T&E Technology to Simplify Processes Out of the ways to leverage technology for expense report management, what do you feel is the most important? Poll Question
  43. 43. www.certify.com Leveraging T&E Technology to Simplify Processes – #1 in client satisfaction in 2014 G2Crowd Report – Beating leading competitor in all satisfaction categories – Ease of use 9.5 out of 10 (competitor software 8.1 out of 10) Ease of doing Business (9.7 out of 10) Ease of Use (9.4 out of 10) Month Certify #1 for Satisfaction Highest Satisfaction Rating
  44. 44. www.certify.com Leveraging T&E Technology to Simplify Processes Q&A Session
  45. 45. www.certify.com Leveraging T&E Technology to Simplify Processes For more information about Certify visit, www.certify.com Thank you for attending today’s session.

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