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Expense management solution enabled by api


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Internal management solutions leverage on technology, to simplify and fast track internal processes to achieve set goals within the company. This allows the firm to streamline pre-existing processes enhancing operational efficiency across all functions.

This solution is a one-stop expense management platform. The API enabled platform reduces paper-based documentation by automating processes, including a quick mobile capture of receipts. The digitalization of expense management streamlines the time taken for the expense process and enables real-time visualization of the expenses. This improves the company’s expense management efficiency, and the customizable multi-tiered approval workflow allows for more flexibility in expense control.

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Expense management solution enabled by api

  1. 1. Expense management solution enabled by API Case study Context: A global bank providing investment banking, asset management and wealth management services to private, corporate and institutional clients worldwide was seeking a solution for automating, simplifying and hastening its expense management process. Solution configuration: • It implemented an end-to-end fully automated expense management platform that streamlines the processes taken for tracking funds, expenses, transactions and reporting while complying with the compliance policy. • Manual processes were automated to save resources and time. • Using API integration, solution seamlessly synchronizes data with accounting, Enterprise Resource Planning (ERP) systems and Human Resource Management Systems (HRMS) that client uses to eliminate the double data entry Client impact: • Seventy-five percent reduction in processing costs • Ninety-six percent reduction in paperwork • Hundred percent expense policy compliance • Seven times faster reimbursement • Working capital optimized by sixty-eight percent • Zero percent cash leakage Contact us Varun Mittal EY Global Emerging Markets FinTech Leader Reinvented business expense management Instant fund transactions Real-time expenses tracking Detailed analytical reporting Automated record of transaction upon card usage Smooth data feed to accounting systems Limits and controls to keep expenses in check using multi-tier approval One-click reconciliation and reporting Tighter control over travel spends with limits and policies Quick capture of receipts on mobile Leading interfaces and technology capabilities Channel-specific limits Challenges faced by institutions Legacy platforms with lesser flexibility and configurability Accelerating lengthy back-office processes Proactive decision-making by tracking budgets in real-time Paper-based practices slowing down key processes and increasing labor cost Real-time expense in one place Smart expense policies Customize approval workflows Cut-off date reminders Reconciliation summaries Website: Email: Sahil Gupta EY ASEAN FinTech Manager
  2. 2. EY | Assurance | Tax | Transactions | Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit © 2018 EYGM Limited. All Rights Reserved. EYG no. 011378-18Gbl ED None. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice.