YourBusinessWithJamesCaan2016 - 20

The new cash control
Webexpenses has gone from start-up to global player by making
expenses claims simpler, more transparent and easier to manage

M

anaging growth is the one
problem that every SME wants
to face. It's successfully
navigating a business through periods
of change, avoiding the pitfalls and
reaping the rewards.

offer a smarter way to manage and monitor
employee expenses. Instead of manually
processing mountains of paperwork, it allowed
everything to be handled digitally.

And thanks to the arrival of digital technology,
the changes companies have to handle are
now more challenging and rewarding than
ever before. It's something webexpenses has
experienced first-hand during its journey from
small start-up to global company.
The company was launched in 2000 by
three accountants in the finance department
of an international company who had become
frustrated with the inefficiency of the processes
around them and inspired by the potential of
digital solutions.
Recruiting a team of software experts, they
started to develop a cloud-based system to

The result was webexpenses, one of the first
Software as a Service (SaaS) applications to
hit the market. It created an interesting early
challenge - trying to explain cloud computing
years before the term had been invented.
But as the business world began to grasp the
game-changing nature of digital management,
the number of companies switching to
webexpenses began to rapidly grow.
With expert guidance from chairman Michael
Richards, the company's software is now used
by over 150,000 users at more than 700 places
across the globe - from fresh new start-ups to
major multinationals.

Pioneering approach

It's a success which is based on keeping the
company 100% focused on its original mission -
to find smarter and simpler ways for businesses
to manage staff expenses.
Now in its seventh version, the webexpenses
software virtually eliminates the need for any of
the manual and paper-based expense processes.
A smartphone app converts the paper receipts
employees receive into a digital form.
It means that business costs incurred can be
updated instantly, rather than finance teams
having to wait for a monthly flood of paper
claims to arrive. By removing paper, it also
eliminates the corresponding paperwork, with
slow and error-prone manual tasks replaced by
automated processes.

Business benefits
Organisations who switch to digital
management typically reduce processing costs



YourBusinessWithJamesCaan2016

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