Digital expense management cut expenses in half

Customer case

Expense handling services

4 min

04-09-2019

Piles of paper receipts and hard-to-handle Excel files – a change was much needed. Toyota Material Handling Sweden digitized their expense management and saved both time and money.

Toyota Material Handling are specialists in logistics and material handling. They sell, rent and service trucks manufactured at Toyota's factory in Mjölby. Maria Gråd is Accounting Manager at the company's head office in Solna.

”We have hundreds of employees who are working in the field. So there are a lot of receipts and accounts to keep track of.”

For many years, employees reported their expenses by first sorting their receipts, posting them in Excel and then submitting them to the finance department for further accounting. Leading to a lot of work for everyone involved.

”Our finance department ended up with piles of receipts that they had to match with all the invoices that came in. We worked manually in Excel – an unreasonable job, for our finance department as well as for the employees.”

They decided to digitize their expense management and turned to Eurocard for help. Quite a few of their sales companies in the Nordic region were already using Eurocard, and Eurocard could easily integrate the solution with Toyota's existing business system.

”We contacted Eurocard and together we found a solution that suited us very well.”

The solution is based on an highly automated expense management. This way, the job is easier for everyone involved. It is now possible to receive digital receipts, even though the most common way is taking pictures of your receipts with your mobile phone.

”Today, all transactions from Eurocard go directly into our system. Our employees take photos of their receipts in an app and they are auto-matically matched to the transactions.”

”The system is so easy it only takes ten minutes to learn.”

This, of course, is a great advantage for everyone involved. Another benefit is that the company is saving money.

”I estimate that the administrative cost of expense management has gone down by 40 to 50 percent since we implemented this solution.”

Another bonus is that it has become easier to manage the company's credit card.

”The best part is that we now have full control over all cards. We have a web tool via Eurocard that allows us to enter and block, raise and lower the limits ourselves.”

”We use the time saved to take care of our customers.” says Maria Gråd.

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