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China Business Advisory

T&E System

Travel and Expenses Management Challenges

Overdue reimbursements, poor data visibility into employees’ expenses, and time-consuming approval processes are just some of the travel and expense (T&E) management challenges companies today face. 

Staff, management, and accountants are facing challenges such as:

 
Staff

  • Complex reimbursement process
  • Time-consuming approval process
  • Inconveniences of keeping large amount of printed invoices, and storage
  • Inefficient manual expense management processes, such as importing item-by-item reimbursement details into the office automation system

 

Management

  • Lack of data visibility and cost control, leading to over-budgeted expenses
  • Burden on finance team and managers to constantly remind and approve staff reimbursements

 

Accountant

  • Tedious process for accountants when they have to constantly log in to VAT invoice platform
  • Manual systems can be time-consuming and prone to errors
  • Ensure reimbursements comply with the company's policies
 

How we can help

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Preparatory work

  • Research and evaluate systems in the market
  • Test the system

 

Services

  • Current business procedures assessment
  • System implementation and maintenance
  • Staff training
  • Compliance check on fapiao for staff reimbursement
  • Uploading of payment request to online banking system
  • Manual payment application to banks

 

You do not need to put together an IT team or engage software vendors to build an effective T&E system. From system testing, reviewing of your company’s policies and procedures, to system implementation, we provide end-to-end solutions that meet your needs. Our easy-to-use T&E management solutions allow you to monitor day-to-day, travel-related expenses, and keep them in compliance with your company’s regulations. 
 

Procurement to Payment (PTP)

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T&E System

  • Online Archiving 
  • Online Approvals
  • OCR Uploading

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China Business Advisory Dedicated Accounting Team

Payment Processing

  • Uploading of payments to online banking system
  • Manual payment application to bank 
  • Release of payments by clients' management

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Financial Data 

  • Budgeting and expense control for staff
  • Expenses reporting by different cost centres or segments

Improve Expense Management Efficiency

  • Adopt an E-Claim System to reduce staff reimbursement-related activities of up to 75%
  • Leverage Optical Character Recognition (OCR) technology to extract fapiao’s information and upload these information onto the E-Claim System
  • Put in place an online approval process management system and simplified reimbursement procedure
  • Digitise fapiao using an E-Claim System and store the digitised fapiao in the system to achieve 100% compliance with regulations from tax authorities
  • Control expenses in real time, and churn out multi-dimensional reports to support decision making

How can we help?

Complete this form and an RSM Stone Forest representative will be in touch.