Streamlining Corporate Travel: A Case Study on Optimizing Expense Management for Efficiency and Cost Savings.
Project Details
Case Study
Industry
Environment
About Client
The client has a business footprint spanning eleven countries across four continents; the Client has grown over 30 years to become a leading financial services corporation with access to emerging and frontier markets. Drawing on a proven track record & a team of more than 3000 talented employees, they provide a wide spectrum of financial services that include investment banking, asset management, securities brokerage, research, and private equity.
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Challenges
Managing the Travel and Expenses of more than 3000 employees is a daunting task for the admin and accounts team. They needed a robust solution to handle this load and process the entire transaction with a click of few buttons.
Solution
AscenWork Technologies provided an end-to-end Travel and Expense Management Solution for the Client. The solution caters to streamline and automate the submission and approval process of travel and expense types. Expenses include travel, lodging, car rentals, meals, mobile claims, etc. It focuses on restructuring the Client’s present Business travels and expenses to cut losses and maximize profits. It is an integrated solution that helped the Client save time and money, accounted for every spend during every step of the business journey before, during, and after the trip.
Results
Tracking Travel Plans, Advance Payments against a Travel Plan, and Payment Reimbursements with approvals needed were the key pointers implemented by AscenWork Technologies on this project. We developed an Integrated Policy Management System with Travel and Expense policies to validate employee designation-wise and grade-wise expenses. The system enabled a paperless Approval system across the organization for Domestic and International Travel and Expenses.
Features and Benefits of Travel Expense System
Tools and Technology
It was a pleasure to be associated with AscenWork Team. The team of professionals helped our organizations to put up a great Application. Their efficiency can be seen from the end result. We are looking forward to collaborating again with AscenWork.
Ameya Kannamwar
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