Total Tool Supply's CFO reinvents his company’s expense management process
Total Tool Supply, Inc., is a family-owned company that provides mechanical tools, services, and solutions to construction and industrial customs across North America. With 14 locations and a team of 235 employees within the United States, Paul Smejkal, Total Tool Supply’s CFO, decided that a more efficient expense management process was needed not just for his department but also for all the salespeople constantly on the road visiting clients.
Challenge
- Expense reporting was a manual Excel-based process, very time-consuming for the Accounts Payable team.
- Employees would have to collect all receipts and send them in an envelope.
- Receipts would get lost and expenses were not submitted in a timely fashion.
- Very time-consuming process for the Accounts Payable team which had to manually enter all the expenses in an Excel sheet.
Why Rydoo?
- Paul found it to be much easier to use than other tools.
- The analytics functionality for financial reporting.
- The app allows users to do their expenses not just in real-time but also quickly and accurately.
Results
- Sales managers now can track their employees’ spendings on various activities.
- The analytics functionality has increased visibility and awareness of employees’ expenses.
- The Finance team managed to eliminate one manual process.
- Users used to spend 4 to 5 hours/month on expense reports and now they spend less than an hour.
- Paul now can re-adjust the expense policy.
- For the Accounts Payable team it’s faster now as they don’t have to manually enter expenses in an Excel sheet.
- Business travelers are being reimbursed every week and not on a monthly basis anymore.
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