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Transforming expense management at WeRoad: a journey with Spendesk
For WeRoad, the first benefit that comes to mind when using Spendesk is 'efficiency.' The finance team's work has been simplified, and they can now focus on added value tasks rather than manual ones. This was the primary goal when they started looking for a complete expense management solution. In addition, non-finance employees at WeRoad have also found Spendesk to be an easy-to-understand and easy-to-use tool. Last but not least, WeRoad was faced with the business critical need to seamlessly manage spend in over 5 locations.
Before Spendesk
Outdated and inefficient expense management process
Challenges managing expenses in 5 legal entities and over 140 employees
Lack of authorization or control over existing expense processes
With Spendesk
Centralized processes and workflows in a single platform
Currency management and adapted approval flows across entities and countries
Intuitive and user-friendly tool with custom policies and validations
Challenges Before Spendesk
Before the adoption of Spendesk, WeRoad grappled with an outdated and inefficient expense management process. Manually compiling and recording expenses not only consumed time but also introduced risks and errors. With over 140 employees spread across five legal entities in different countries, the complexity of managing expenses was further exacerbated. There was a noticeable lack of an authorization or control process for expenses, leading to a lack of transparency and accountability.
The finance team at WeRoad found themselves entangled in a time-consuming and error-prone process. The need for a solution that could bring efficiency, control, and ease of use became apparent.
Enter Spendesk: a paradigm shift
Implementing Spendesk marked a transformative moment in WeRoad's financial operations. The advantages were immediate and far-reaching, with the first and most notable being increased efficiency with expense reporting.
Spendesk streamlined the process, allowing employees to submit expenses seamlessly through the app. What once required manual data entry and the hassle of scanning receipts was now replaced by a one-click submission, saving valuable time for both those incurring expenses and the finance team. This automation not only reduced the risk of errors but also freed up resources for more strategic financial tasks.
The introduction of Spendesk brought about a cultural shift within the organization. The finance team, previously bogged down by the complexities of expense management, now had a tool that empowered them with real-time control. Spendesk allowed the team to set automatic spending limits and permissions, mitigating the risk of overspending and ensuring compliance with financial policies.
Efficiency and automation: 50% of time saved
One of the most significant achievements attributed to Spendesk at WeRoad is the remarkable 50% decrease in time spent managing expenses. This metric is a testament to the profound impact that an efficient expense management solution can have on overall operational productivity.
The finance team, once immersed in manual data entry and reconciliation, now found themselves with more bandwidth for strategic financial planning and analysis. The cumbersome nature of the previous process was replaced by a streamlined workflow, thanks to Spendesk's automation capabilities.
The newfound efficiency extended beyond the finance team to every employee involved in expense reporting. With Spendesk, the process became intuitive and user-friendly. Team members, including those constantly on the move, found the tool to be an indispensable companion in their day-to-day activities. The simplified process not only enhanced the user experience but also contributed to a positive shift in the organizational culture.
Approved management in the five countries where we operate has been crucial for the scalability of our business.
— Elena Giombelli, CFO at WeRoadFlexibility and scalability: managing growth with Spendesk
WeRoad's expansive operations, spanning five countries and encompassing a diverse team of 51-200 employees (FTEs), necessitated a solution that could adapt to the company's growth. Spendesk not only met this requirement but exceeded expectations.
The tool provided real-time control over expenses incurred during business trips. The finance team can track expenses by cost center, team, and country, offering valuable insights for strategic decision-making. Spendesk's flexibility allowed WeRoad to set spending limits, ensuring fiscal responsibility without stifling the operational needs of the teams.
As WeRoad continued its journey of growth and exploration, Spendesk provided the necessary framework for standardized expense management. The tool helped establish a uniform process across all five legal entities, bringing consistency to financial operations. This standardization significantly simplified the month-end processes for the finance team, who could now easily report and communicate reimbursement amounts to the payroll department.
Looking forward: a future with Spendesk
In conclusion, Spendesk has proven to be a game-changer for WeRoad, revolutionizing expense management within the organization. The story is one of transformation — from an inefficient and error-prone manual process to a streamlined, automated, and user-friendly experience.
The 50% time savings achieved is not just a metric; it is a reflection of the tangible benefits that Spendesk has brought to WeRoad's financial operations. The tool has empowered the finance team to focus on strategic initiatives, turning their attention from tedious data entry to value-added financial analysis.
As WeRoad looks toward the future, the team is enthusiastic about continuing to leverage Spendesk. The tool has become an integral part of the organization's growth strategy, supporting not only the current operations but also laying the foundation for future expansion. Spendesk's flexibility and scalability position it as a trusted partner in WeRoad's ongoing journey of connecting people through adventure travel.
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