Remove paper and simplify finance processing
Are you tired of paper claims?
The traditional process for dealing with business expenses involves filling in spreadsheets, attaching receipts and arguing over what the policy allows.
Many companies find their expense processes are:
- Painfully slow
- Expensive
- Inconsistent
- Labour intensive
- Prone to errors
- Invalid for tax and benefits
KDS can help
KDS can allow you to process expenses quickly and easily without compromising on scrutiny. KDS consistently applies your company policies, checks for errors and provides robust auditing to keep your tax and benefit authorities happy. The following benefits can be achieved with KDS Expense.
Enhanced Employee Satisfaction
Employees can clear any issues with their claims before they submit them, and finance are able to process and reimburse claims within 24 hours.
Reduced Process Cost
Most of an employees expense claim can be created for them. Managers can focus on out of policy items, receipts don’t need to be manually reconciled. Taxes and benefits are calculated. Data is sent to your finance system.
The cost of your process could be reduced by as much as 95%.
Submitting and approving expenses on your mobile helps to speed the process, and adding a receipt image is really easy.Improved Policy Adherence
Employees are kept within your policy limits and any exceptions are escalated and dealt with appropriately. Policy is no longer variable depending on your approver!
Optimise Processing Overheads
Taxes and benefits are calculated, receipts are automatically reconciled, policy issues have been dealt with and the data is ready for your finance system.
KDS can completely remove the paper receipts AND the reconciliation burden.
Reduce Errors and Identify Fraud
Expense items are prefilled from card charges and automatically checked against both company policies and consistency parameters.
Demonstrate Accurate Accounting
The consistent application of correct accounting treatment, rules and calculation of taxes and benefits are auditable, and demonstrable for regulatory compliance.
Combining expense with travel
Using KDS Travel with KDS Expense extends the value of expense management:
Further Time and Cost Savings
More expense items can be prefilled. Managers can approve expenses on a more natural trip basis.
Fewer Errors and Reduced Fraud
Expense claims are reconciled against trips that have been booked.
Reduce T&E budget by 25%
Controlling and consistently apply policies throughout your T&E process together with introducing a managed travel program can reduce your overall T&E spend by 25%.
