Inefficient expense management process
“The expenses incurred during the business travels were submitted, processed and reimbursed manually,” explains Wim Vermeire, senior manager at Delaware. “With so many people sending in digital as well as paper receipts and invoices, it was difficult and time-consuming to stay on top of incoming costs. In addition, the manual processes were error-prone. Last but not least, especially reclaiming domestic and foreign VAT, with different rates and tax rules to comply with, was complicated. That led to large backlogs in the processing of expenses and, consequently, in the payment and reclaim of VAT.”
"Due to the lack of transparency and digital capabilities of our previous expense processing system, we incurred a backlog of several years in some cases. Various expenses were neither properly registered, nor were they claimed in a timely manner, which left us vulnerable to compliance and VAT reimbursement,” admits Danielle Gidley, finance manager for Belgium & Netherlands at TOMRA Food.