50%

Happy Reduction in
Reduction in Individual
Report Approval Timeline

100%

Policy Compliance

17days to 4 days

Average Reimbursement
Cycle

Emkay Global Financial Services Ltd. is a leader in the financial services sector for nearly two decades. Founded in 1995 with a clear goal of offering sound, research-backed financial advice, Emkay Global has successfully served a wide variety of highly distinguished clientele around the world; including foreign institutional investors (FIIs), domestic mutual funds, hedge funds, banks, insurance companies, private equity firms, corporate houses, small and medium-sized enterprises and high net worth individuals (HNIs).

Problem

Tedious Web-Based ERP Expense Management Solution

In the existing solution, expense management was a small module of the ERP suite and provided primitive user experience. Also, a lot of employees faced difficulty in using the application, hindering usability & required hands-on training to file expenses.

Haphazard Filing of Expenses

As there were no timeline limits in place for filing expenses, most of the sales team used to file expense reports throughout the month, thus hindering the verification & approval process

Also, no formal structure was set up to approve invoices, so it became tough for the finance team to set limits & ensure policy compliance, leading to lack of productivity for the entire team as they were busy most of the time clearing the invoices.

Lack of Visibility into Cash Flow

The 1000 headstrong sales team incurred a lot of daily expenses, but they were unable to record the expenses on the go. Hence, as the expenses were submitted for reimbursement without any set timeline constraints, the finance team had to sit throughout the month to clear invoices. Without any formal structure, it became quite difficult to actually track expenses for a particular unit throughout the month.

Solution

To support the aggressive growth objectives of Eastern Spices, the company needed to shift from a manual, web-based ERP expense management solution to a secure, mobile solution which would empower the existing enterprise systems. There was thus a need for end-to-end automation of expense management.

    An apt solution for Emkay Global meant it had to :

  • Remote filing of expenses through a mobile application
  • Complete Automation of expense management process
  • User-friendly interface which is easy to navigate
  • Configure policies & approval workflows as per the organisation guidelines.

Outcome

With Happay, Eastern Spices was able to realize clear results right from the start. Employees no longer had to face the trouble of storing bills, lengthy approval processes and lack of visibility (often leading to loss of pay) were completely trimmed out from the process. The turnaround time, too, also beacame a fraction of what it was earlier.

In essence, Eastern Spices fully automated their expense management process.

Reinvent Spend Management
with Happay today

Schedule a Demo