These 5 IT Companies Digitised Their Expense Management Process To Modernize Finance Operations
If you are looking for ways to digitise your finance department then one of the best things you can do is to transform your expenses process.
It’s a great place to start for any transformation project because it is a discrete subproject that allows you to make real gains and reduce the manual workload for your department. Once you have a successful and visible project under your belt you’ll find that later changes will face less resistance and will be supported much more.
There are hundreds of happy customers who have seen the real-life benefits of implementing Rydoo and totally transforming their expenses process. Below is a compilation of some of the best success stories amongst IT companies.
Over 1 million professionals worldwide are using Rydoo
Irdeto removes manual processes
With nearly 50 years of expertise in security, Irdeto’s software security technology and cyber services protect over 5 billion devices and applications for some of the world’s best-known brands.
As the world leader in digital platform security, Irdeto is an innovative and forward-thinking company. Yet surprisingly, some internal processes remained unchallenged and manual processing of expenses was one of these.
Pierre Fauvel, Financial Controller for Irdeto Americas, volunteered to find a new solution for their expense processes. A heavy traveller himself, Pierre was regularly frustrated by – in his own words – “the painful and slow process.” Pierre estimated the time spent doing expenses after each trip as being between 45 min to 1 hour.
One of the features that particularly attracted Pierre to Rydoo was the ability to take a photo of a receipt and have it processed automatically using OCR technology.
“We wanted to free up people’s time.” says Pierre ”If they are in a restaurant, they can take a picture of their receipt and immediately send it for approval.”
Irdeto deployed Rydoo in 9 countries covering the Americas, Europe, Asia. The project was led by finance teams in each region and overseen by Pierre. Thanks to the great collaboration between the Irdeto project team and Rydoo, the rollout took 8 weeks for all 9 countries including a full Microsoft Dynamics’ integration which is an astonishing achievement.
Removing the manual processing of expense reports and moving to an automated real-time expensing method has saved Irdeto’s finance team a huge amount of time and has removed much of the frustration for its business travellers.
If you’d like to find out more about the Irdeto project then go here.
Ubisense sees a great ROI
Ubisense employs 70 people across the UK, US, Germany, France and Japan allowing clients to track the precise real-time location, movement and interactions of things using industry-leading sensors. The sales and services teams travel from client to client to sell or deliver Ubisense’s products. They submit expenses for travel, accommodation costs, food, mileage and more.
Ubisense began a transformation process as Financial Controller Adam Green explains “We’re moving towards a better way of working across the business, it made sense to bring all of our systems up to modern standards and not just leave expenses behind.”
Ubisense’s CFO set a goal to have the system up and running within four weeks and the partnership between Rydoo and the Ubisense finance team met the ambitious target they’d set themselves.
As Adam notes, “It felt pretty fast-paced because we were constantly progressing, and that’s exactly what we wanted. It was great that Rydoo facilitated our goals.”
Getting the system in and people using it as quickly as possible means that a modern expenses system like Rydoo has a much better ROI as savings begin to be realised much quicker.
Find out more about the Ubisense project here.
Rydoo integrates with all the tools you use to create one seamless flow for your travel & expense data.
Unify Square finds a cost-efficient solution
Delivering value to more than 5 million collaboration seats across more than 50 countries, Unify Square, Inc. is a cloud software and services provider headquartered in Bellevue, WA.
With 200 employees based in 9 countries many of whom are constantly travelling around the world, the company has implemented Rydoo as a multi-currency expenses solution.
As Accounting Associate Paula Tice explains, “We looked for a platform that checked off the following boxes: Cost-effective, Efficient, Comply with European policies”.
As well as being fully compliant with US and European expenses regulations such as per diem and WKR, the solution needed to have a cost-effective pricing structure. Not all of Unify Square’s employees would make a claim every month and so it seemed ridiculous to have to pay a fee whether they used the system or not.
Rydoo is charged on an active user basis, so although every member of staff has a user account, the company only gets charged when an expense claim is made, which makes it a very efficient option for all companies.
Paula also says that the finance team particularly value the usability of Rydoo; ’Rydoo has helped us save time when it comes to reviewing and processing expenses. It is helpful that Rydoo flags duplicate submissions and that we can look up expenses using many different filters…”
For more on the successful Unify project check this post.
NTT Disruption deploys Rydoo in 3 weeks
With a team of 70 digital natives, global technology and business solutions provider NTT Disruption provides digital business consulting, technology and managed services for cybersecurity applications.
As you would expect with a disruptor they look to digitised systems to make sure they are able to provide services to their clients quickly and efficiently.
It made sense then that Innovation Lead, Ignacio Diaz looked to Rydoo to provide a paperless, fully digitised expenses process for his people.
NTT Disruption has offices in Madrid, London, San Francisco, Boston, and Dallas, so there is a considerable amount of business travel, therefore, they needed a way to effectively manage expenses incurred by employees.
For any technology company, looking for a like-minded partner to provide services is key and for NTT, Rydoo was the right option. As Ignacio explains, “Staying true to our philosophy of innovation, we ended up choosing Rydoo. It was the right match for us”
Working closely with the implementation team at Rydoo, the NTT deployment was super-quick “From the moment we decided to work with Rydoo until we got it up and running, only three weeks had gone by”
Find out more about the great benefits that NTT achieved here.
A truly paperless solution for NEC
As the Brazilian branch of one of the world’s leading technology and security companies NEC needed to show that it was at the forefront of digitisation, Rydoo was a key component in the gearshift.
With a manual paper-based system the company was spending way too much time processing expense claims and this was causing a great deal of frustration as treasurer Clarice Oliveira explains “At some point, our CEO told us he didn’t understand why a technological company used so much paper and he had to sign expenses for $1 a piece. Six months later we were using Rydoo.”
The project benefited from the support of the CEO and whilst implementing an expenses solution in a large company may seem like a massive task this wasn’t the case with Rydoo. Clarice says; “I did everything myself! It was a really fast and easy process.”
By implementing Rydoo the finance team has achieved its goals of becoming more efficient and removing the need for filing space.
In fact, Rydoo has made a real financial difference for the company. Previously, they employed a full-time employee working eight hours a day to check all expenses. “Now Lana takes care of everything in just three hours, while being able to work on other things as well,” Clarice explains. “That’s five hours of savings a day — and no more paying for storage!”
Find out more about how Rydoo helped NEC go paperless here.
Over 1 million professionals worldwide are using Rydoo
There’s no doubt that having a modern, digitised expenses solution delivers massive real-world benefits for companies of all sizes.
Whether you are struggling with storing mountains of paper or you are losing hours a day processing claims, Rydoo can help.
With a cost-effective solution and super-quick deployment times Rydoo also starts delivering ROI quicker than any other system.
Why not book a free demo today and start your journey to a truly transformed expenses process?