Automated expense and reimbursement processes
For expense/reimbursement requests, any MPIC staff member is now able to submit company-related expenses and reimbursements to Finance and Accounting for approval, which were previously done manually with paper, slowing the process and adding to the company clutter. Requests are now managed and approved using a queue number system regardless of company hierarchy to ensure impartiality. K2’s escalation rule enables the expense and reimbursement requests to be tracked with automatic reminders to ensure SLAs are met.
“The results, after implementing K2, have been exceptional,” says Edison. “We have managed to reduce turnaround time of our expense/ reimbursement process from the usual 1 – 2 weeks, down to 3 – 5 days. This was primarily due to the elimination of manual routing, ease of access to the system, and proper tracking of every workflow application in K2.”
Elimination of paper-based processes also meant that applications are hardly duplicated or redundant. Should there be rare instances of duplicate applications, K2’s solution ensures that these can be recalled with appropriate notifications to the staff tasked with that particular approval.