3 June 2021 - Reading time: 5 Minutes
With an expense tool, you can automate and enforce compliance at expense entry level to flag or even prevent non-compliant claims. You can also set a tolerance level that both respects your financial policy and empowers your high potential employees, thus reducing aggravation.
Expense automation acts on seven levers:
Travel may seem a long way away for those of us with customers abroad (and those who have been bitten by the travel bug!). Thankfully, with the arrival of Covid-19 vaccines, travel is set to resume. Planning for that now will ensure that travel becomes as profitable and efficient as it can be in your organisation.
With an expense tool tailored to your needs, you can set up travel pre-approval to ensure that employees are taking advantage of that special Eurostar offer or flight deal as it comes up. No more losing a deal because of a busy manager!
Integrated spend reports offer actionable insights, such as guiding your choice of travel partner based on what percentage of your T&E budget goes to flights, overnight stays or entertainment. More accurate budgeting means a better allocation of funds to where they will have the biggest impact.
It's also worth noting that offering your team members a comprehensive view on their expenses tends to lead to a deeper level of awareness. And with that increased awareness, they become more invested in making the most out of that expensive flight to Switzerland.
Supported by clear policies, a strong expense tool streamlines your processes and helps you make data-driven decisions at every level in the organisation.
An automated expense tool lets your users log their expenses from their smartphone, uploading receipts to an app on the go. This mobility frees up precious time they can then spend on higher added value tasks and means they spend less energy fighting process inefficiencies. And happy employees = productive employees.
Managers can also approve requests from their phone, comfortable in the knowledge that legal and policy compliance are assured, leaving them only to validate the business need for an expense. OCR (Optical Character Recognition) tools flag non-compliant items for further review, letting the approver and controller focus on what matters.
And finally, controllers are left with a steadier and more compliant flow of expenses with fewer bottlenecks, resulting in faster reimbursements. Between policy automation and OCR, the time spent controlling expenses is drastically decreased by up to 90%, making for much improved productivity.
Investing in automated expense management is a surefire way to maximise your return while minimising spend, increase the efficiency and profitability of travel planning and save you both time and money.
Reducing Costs & Managing Spend While Finding a New Normal
Payroll is the lifeblood of an organization, so getting it right is crucial. When organizations branch out into new geographical locations, the risk of payroll mistakes heightens. It’s a scary thought for HR and payroll professionals.
8 December 2020
COVID-19 has a great impact on employees, with mass homeworking as one of the most remarkable outcomes. Many companies are pulling out all the stops to establish viable homeworking policies, implement digital tools and create a renewed organisational culture. What’s often overlooked is the physical workspace. Although traditional offices are on their way out, they can re-emerge as employee experience centres.17 November 2020
In the digital world, ensuring that you have a healthy work/life balance has never been so important. However, in this ‘always-on’ environment, it can prove difficult to step away from the world of work and to take that all-important break from your seemingly never-ending to do list. Some HR and payroll professionals see the introduction of HR tech as another cause of stress, with many fearing that it will threaten the future of the industry. However, the introduction of automation and other technologies could be the answer to empowering the HR professional and maintaining a healthy work/life balance.12 October 2020
As the adage goes, “the clever learn from their mistakes, but the truly wise learn from the mistakes of others”. With remote working here to stay in a post COVID-19 world, offering great experiences to remote workers is the key to high engagement, effortless collaboration and – in the end – higher performance. Familiarise yourself with the fails and learn how to win with remote working.20 August 2020
The COVID-19 lockdown forced international companies to switch gears overnight: remote working was suddenly the norm. In most cases, the transition happened smoother than expected and significant benefits have now become apparent. Therefore, it’s likely that remote working is here to stay. Are you planning to offer regular remote working to your international workforce? Don’t forget that this implies a set of written and unwritten rules. Here’s a basic checklist.17 June 2020
A recent SD Worx survey revealed that over half (57%) of European employees have the freedom to take a holiday when they choose. Although this can improve the work/life balance and autonomy of employees around Europe, it can leave departments a little stretched over the summer – a popular time to travel and enjoy the sun with friends and family. This can particularly affect the HR and payroll department – a business function that never stops.5 August 2019
It’s vital that global organizations are run as efficiently as possible. With potentially easy access to a broad and detailed selection of employee data, the HR and payroll department can ensure that the organization’s staff planning is accurately informed to better control staffing costs and improve efficiency across the business as a whole.
So, how can the HR and payroll professionals ensure that they are maximising the potential of the valuable data that lies at their fingertips?
It is often said today that data is the new oil – it’s extremely valuable, especially in international business. But, as organisations expand, their databases grow and this can impact the workload of the HR and payroll professionals, distracting them from their vital roles and left to drown in never ending streams of data.11 April 2019
With winter coming to an end, the sun is coming out of hibernation and spring is rolling around. But as we prepare for the time of new beginnings, with flowers blooming and the leaves back on the trees, how can you use HR Tech to make the most of the new season? Rather than being stuck in the office, battling through endless admin and other time-consuming tasks, introducing HR tech into your organisation can put a spring back in the step of the payroll function.27 March 2019
Much of today’s media coverage on the introduction of technologies like artificial intelligence (AI) and machine learning in the workplace express concern over the future of the human employee. Many fear their roles will be replaced by an intelligent robot that is more efficient and cheaper to employ. However, this is far from the case. SD Worx advocates the future of HR tech, but we also understand that you can never take the ‘Human’ out of Human Resources! In fact, introducing these technologies to the HR and payroll department can only reaffirm the place of the human employee in the business world.30 December 2018
With the growing importance of computers and technology in today’s world, the pressure for businesses to digitalise their workplace is rising. Although there are many benefits to be reaped, lots of people are still confused about what digitalisation is and how it will impact their employees.1 October 2018
Is your HR and payroll team feeling the heat this summer? With the weather heating up, most of us want to get out and enjoy the sun or escape on a holiday. However, with more staff members out of the office, this can mean that the payroll team might be running on reduced numbers. And, typically, less team members results in a higher workload for those in the office. This is where HR and payroll technology can help, giving HR teams a well-deserved summer holiday.3 August 2018
The HR and payroll industry is in constant change, with digitalisation, GDPR, and the gig economy effecting the HR and payroll department in organisations around the world. So, how can you ensure that both your HR department and employees are able to keep up with the pace of change? It’s time to unleash the flexibility of your HR.26 April 2018
PAREXEL provides best practice examples to international organisations.
With the General Data Protection Regulation (GDPR) coming into effect in May 2018, all organisations who handle data of EU citizens will need to comply with new guidelines. By nature, HR departments hold personal and sensitive employee data, including payroll data. However, with an increasing amount of payroll and HR departments adopting automated payroll processes, the question arises: how do you become compliant in a digital world, especially if you are an international company?12 March 2018
The end of the payroll year is typically a very stressful time for payroll teams. With an extensive amount of tasks to be completed within tight deadlines, any mistakes can be costly.
However, the end of year process can be drastically simplified by engaging with tailored payroll software. This technology can be utilised to assist payroll professionals throughout the year, but how can it help payroll teams in April each year?27 February 2018
Businesses in every industry have been affected by the way that we now rely heavily on technology. Technology is now a part of everything we do – both at home and work—and in order to stay relevant in today’s world, all industries must continue to be innovative and remain up to date with technological advancements, especially in the workplace.19 October 2017
Big data and analytics have now entered numerous industries, including healthcare, financial services and retail. Despite many HR and payroll providers now using big data as part of their services, the industry has predominately been slow on the data uptake, in comparison to adoption within others. HR and payroll is largely an industry that relies on human intuition, rather than data and statistics, however, providers have started to see for themselves benefits of big data and analytics, and thus are beginning to implement these into their services.10 October 2017