London, UK – Dec. 16, 2015 -KDS, a global provider of corporate Travel and Expense (T&E) management software solutions, today announced that the KDS Neo Expense solution has been chosen by Octapharma, a leading global human proteins manufacturer, to streamline employee expense management processes at its headquarters in Switzerland.
Research from the Global Business Travel Association (GBTA) suggests that each year businesses spend, on average, approximately half a million dollars and nearly 3,000 hours correcting errors in expense reports*. Recognizing the importance of having T&E a system that can be quickly and easily assimilated and used correctly across the entire organization, Octapharma selected Neo Expense against a range of alternative solutions because of its ability to give an unmatched user experience. In addition to this, Neo Expense also provides the finance department with the reporting, auditing and IS integration it needs to control travel and other expense related spend.
“We are delighted that Octapharma has decided to use our Neo Expense solution,” said Dean Forbes, CEO of KDS. “This is an exciting expansion of our customer base in Switzerland, and represents the increasing priority being seen in many global businesses to more effectively manage their T&E to help streamline costs and inefficiencies and to improve productivity.”
Despite this shift of emphasis in many leading businesses towards T&E, a recent study conducted by KDS showed that half of all businesses in the UK still make their employees submit expense reports on spreadsheets or even paper forms, just as they did 25 years ago.
KDS Neo Expense helps address these issues by replacing spreadsheet-based expenses processes with a system of icons overlaid on a calendar so that expenses can be seen in the context of employee business meetings and trip itineraries. Available on mobile devices, KDS Neo Expense also lets employees scan cash receipts on the go. KDS Neo analyzes them using Optical Character Recognition (OCR) and geolocation to quickly complete receipts. In addition, the Auto Expense feature greatly reduces the time taken to submit a claim thus saving companies money (according to the GBTA, it takes an average 20 minutes to complete one expense report and the average cost to process an expense report for a single night hotel stay is USD 58)*.
Headquartered in Lachen, Switzerland, Octapharma is one of the largest human protein product manufacturers in the world and has been committed to patient care and medical innovation since 1983. Its core business is the development and production of human proteins from human plasma and human cell-lines. Octapharma’s revenue forecast for 2015 is €1.5 billion.
Octapharma has 48 subsidiaries and representative offices and employs approximately 6,000 people worldwide to support the treatment of patients in over 100 countries with products across the therapeutic areas of Haematology (coagulation disorders), Immunotherapy (immune disorders) and Critical Care.
Octapharma owns five state-of-the-art production facilities in Austria, France, Germany, Sweden and Mexico.
For more information visit www.octapharma.com
* GBTA study can be found here: http://blog.gbta.org/2015/11/25/how-much-do-expense-reports-really-cost-…