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How Laguna Tools cut its reimbursement TAT by 70% by automating the process
Headquarters:
California, USA
Employees:
50-200 employees
Industry:
Woodworking Machinery
CNC Machinery
Challenges at Laguna Tools
- The finance team at Laguna Tools wanted a platform that automated their entirely spreadsheet based expense management process.
- Expenses took months to get reimbursed and the team had to put in hours of their productive time to reconcile their multiple credit cards manually.
- Since everything was manual, the team found it difficult to keep track of all the expenses and there was no visibility over credit card spends.
- Employees found it difficult saving receipts to attach with the spreadsheets.
- The receipts were often damaged or misplaced which made it harder for both the finance team and the employees during expense tracking.
- There was also a risk of human error during the process that could be avoided with an automated system in place.
- They wanted to transition from using spreadsheets to track and report expenses to a platform that did it all and more for them.
At Laguna Tools, we sell solutions. And that’s exactly why Fyle stood out to us. Fyle solved a complex problem of expense management with the most simplest and innovative solution.
Brian Rosenberger
COO
Why Laguna Tools chose Fyle?
The foundation of Laguna Tools is to create quality and innovative solutions for its customers’ simple to complex needs. The company wanted a solution to their expense management needs that resonated with their goal.
The finance team spend hours on spreadsheets and manually reconciling corporate card expenses. They often found it difficult keeping track of all the expenses and receipts employees were submitting.
With Fyle’s simple and innovative features, Laguna Tools was able to easily transition from a totally manual system and reduce their reimbursement turnaround time by almost 70%.
Key features used:
Easy expense tracking
Corporate card reconciliation
Netsuite integration
Mileage tracking
Instafyle
I used to spend up to 40 hours every month just doing expense reports. Fyle makes it look easy.
Joel Gonzalez, Accounts Manager at Laguna Tools
Instafyle Receipts
With Instafyle, employees easily scan the receipt quickly from the Fyle mobile app and create expenses accurately and on-the-go. No more damaged or forgotten receipts!
Corporate Card Reconciliations
Instead of spending hours reconciling cards manually, with Fyle, the finance folks are now able to reconcile the card spends automatically with no errors and gain complete control and visibility.
Learn more about corporate card reconciliationsNetsuite integration
With Fyle’s seamless integration with Netsuite, the team was able to eliminate manual entry into Netsuite, reduce any errors and improve efficiency.
Learn more about integrations
Easy Expense Tracking
With Fyle, employees had more than one way of tracking their expenses. This enabled them to submit their expenses on time and without any extra effort.
Learn more about expense trackingAccurate Mileage Tracking
Since Fyle’s mileage tracking is powered by Google Maps, employees could easily track mileage accurately and could submit it right from the Fyle app and the finance team could configure mileage according to vehicle type.
