Capillary Technologies had been using spreadsheets to track and report business expenses for the past 7 years. The biggest challenges posed by this setup were:
Employees were required to track expenses and then later fill in expense details manually. Further, the admins needed to sift through multiple manual submissions to check for violations - leaving huge room for fraud and human errors.
The current process handicapped Capillary’s visibility into business spend - spanning 9 countries and multiple business units, employees were claiming partial expenses and reporting only at end of month because of the cumbersome process.
Hard copies were needed for audit, and managing them was cumbersome. Not only was this cost-intensive, but lost/damaged receipts could impact the compliance and audit process, which was a huge vulnerability.
The spreadsheet process, for the reasons mentioned above, led to a very unhealthy overall employee reimbursement period of about 45 days.
Although Capillary had strong reasons to automate expense management, there were quite a few aspects adding to the inertia, resisting this digital transformation
Most automated softwares which could reduce manual e ort to near zero needed a significant amount of onboarding and training during deployment.
Most solutions were unable to mimic the real-life approval hierarchies and violation checks for expense reporting. The processes had to span a network of organizations across 9 countries.
The new solution was expected not only to cover the expense management requirements, but also to integrate seamlessly with payroll systems and other accounting workflows.
Capillary zeroed upon Fyle to automate expense management, and the decision was driven majorly by the following features:
A mobile app to capture data from paper receipts and a chrome extension to capture data from e-receipts power expense reporting at Capillary now.
Fyle enabled Capillary to setup custom workflows for approvals which led them to consolidate expenses across multiple orgs based out of 9 different countries.
Fyle’s policy engine supports custom policy setup and it flags unwarranted expenses without any human involve- ment. Policies are now enforced in real-time when employees create expenses.
Receipts uploaded by employees are stored in a digital format. Accountants get all receipts in one place and maintaining a central database is easier.
A 2x increase in submission of receipts followed the automation of expense management. Owing to the ease-of-use, employees were submit- ting more expenses as and when they happened.
Policy violations are now flagged and reported to the users in real-time. Users can also justify the violations in the comments section.
Compounding impact of automatic compliance and approvals reduced Turnaround Time for Reimbursement to 15 days from the previous period of 45 days.
Capillary shifted to Fyle entirely within a week - on-boarding all employees, training admins and setting up complex company policies and workflows across all 9 countries.
Fyle is an intelligent expense management software for businesses. Our mission is to eliminate frustration from expense management. Powered by Artificial Intelligence, Fyle makes expense reporting a one-click process for employees, and enables admins with automated compliance.
If you would like to explore the features of Fyle please visit our website - www.fylehq.com
If you are an organization looking to automate expense management please drop us a mail at hello@fylehq.com or request a demo on our website. Our customer champions will reach out to you at the earliest.
Fyle has minimized manual efforts in the expense management process at Capillary - Employees claim expenses in one-click while our finance team is saving hours in processing expense reports now.
With a very simple and intuitive user interface, Fyle provides policy and spend optimization possibilities for us by bringing valuable, accurate business expense data in real-time.
Vijay A M, Chief Financial Officer, Capillary Technologies
