World’s largest building society turns totally digital for employee travel receipts & expense claims
Nationwide, the world’s largest building society has selected KDS, a global provider of corporate travel and expense (T&E) management software solutions, to overhaul and streamline its employee expense process.
Using KDS Neo Expense, approximately 18,000 of Nationwide’s staff are now able to manage and submit their expenses in real-time using Neo, an intuitive and easy to use solution with a modern user interface. The initiative supports Nationwide’s strategic priorities and will see KDS Neo Expense process over 5,000 employee travel expenses monthly.
KDS Neo Expenseis based on a modern, consumer-style user interface. It enables staff to photograph receipts and quickly input expenses ‘on the go’ using a mobile app and the camera on their phone. This reduces instances of lost receipts and enables the business to validate claims quicker and more accurately.
Using KDS Neo Expense, Nationwide expects to significantly reduce expense claim input, processing and reconciliation times. Fiscal and corporate policy compliance is ensured and instant auditing made possible.
Muir Mathieson, Divisional Director of Financial Control and Information Management at Nationwide said: “By streamlining our expense process we’ve been able to reduce errors and improve control and quality of receipts. Our employees are happier because the process is much simpler, approval is easier and they get reimbursed faster. And, our auditors are delighted as it gives them better visibility of spend for management, group tax and ultimately HMRC.”
Deployment began in May and the system was live and being tested by June. Project management teams from KDS and Nationwide worked together and a change management and employee communications programme was created which included videos and user guides for branch employees.
“Businesses today need processes to govern financial expense compliance and optimise their employee expense claim processes,” said Dean Forbes, CEO of KDS. “They have an obligation to manage these processes effectively benefiting their bottom-line and their employees. When done correctly there are benefits for everyone.”