Considering automating expense management at your company? Here are some of the benefits Inspirations Paint is experiencing, now that staff use webexpenses.
By Beth Wallace
Australia’s largest paint-supply specialist franchisor Inspirations Paint has 30 employees supporting 110 franchise stores which, in turn, employ around 450 staff across the country.
The company introduced webexpenses expense management software at the beginning of the financial year and is already seeing improved expense tracking, and time and cost savings.
Inspirations Paint CFO Gary Jeston FCPA explains why he made the switch to automated expense management, and what the benefits are.
1. Integration with accounting software is simple.
“We’d been using DocketBank for four years, which helped us capture expenses and was useful for auditing purposes,” says Jeston, “but we wanted to simplify the process and import more detailed data into our ERP system.”
Integrating webexpenses with Pronto was quick and simple – and it’s a much more effective solution.
“Webexpenses is ideal,” says Jeston. “Our Pronto system is very easy to import data into, using a copy-and-paste function. Getting the data out is equally straightforward.”
Webexpenses can also document compliance for audit purposes down the line.
2. It saves time.
Previously, the monthly task of sorting through staff expenses took at least three days.
With webexpenses, the job is completed in just one day.
“Last month, we processed around 300 lines of expenses from 15 credit cards,” Jeston says. “Webexpenses is less labour-intensive than our old system and saves time for everyone involved.”
3. It saves money.
Time saved is money saved, but beyond that Jeston says webexpenses is already reducing the number of out-of-policy claims.
“We had some people putting through claims that they shouldn’t have,” he says. “Because we are using webexpenses workflow controls, I'm now the first-line approver and run my eye over everything. I’ve picked up some things that we shouldn't be allowing and we've changed our expense policy as a result. It's already yielded returns.”
4. It’s digital.
Gone are the days of chasing receipts and matching them to credit card statements: the webexpenses system is completely paperless. Staff simply email receipts to a designated address, or upload them via the mobile app.
“As it’s cloud-based software, users can view their account on any device at any time,” Jeston adds. “They can also see on the dashboard whether they've been reimbursed; they don’t have to log into their bank account to check.”
5. Users can manage expenses via a mobile app.
While staff can submit claims via email, Jeston says the webexpenses mobile app comes in really handy too – especially when staff are offline.
“People can use the app to take photos of receipts when they’re sitting on a plane or anywhere else that doesn’t have an internet connection,” he says. “The app stores the image, then uploads it once you’re back online. There are no more excuses for lost receipts!”
6. Webexpenses produces customised, real-time reports.
“The problem we had previously was that we didn’t have visibility of the expenses people were claiming without doing much more analysis,” Jeston explains. “With webexpenses, we can see the line-level data as it comes into Pronto.”
After only a few months of using webexpenses, Inspirations Paint is already seeing huge benefits from automating their expense process.
Says Jeston: “We’re getting more detailed information, which will flow on to better cost control.”
To find out how automating expense management has worked for other companies, or to request a demo, visit www.webexpenses.com