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.
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.
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.
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.