Have you ever thought how odd it is that companies allocate their most expensive and experienced employees to doing routine tasks like authorising expenses and checking for policy compliance? If you didn’t, it might be because your company is making this big mistake.
It seems odd that the very people that are tasked with really driving an organisation forward are often sitting in an office doing something that falls far below their skill set. For example, manually controlling business expenses. Add to this the fact that businesses also ask their internal audit team to check for policy compliance and develop fraud avoidance measures, and you can see that something clearly needs to change.
While developing Rydoo, we wanted to produce the simplest, quickest and most cost-effective expense management system available. But what we learned along the way is that our customers have serious issues with maintaining policy compliance and that it is costing senior people a lot of time and money. So what is the solution?
End-to-end compliant expense management
Picture this: you’re excited because you just got a new job as a financial controller. Your first task is to check some expenses. “Piece of cake”, you might think. Little did you know that there were expenses from all four corners of the world. “What? How am I supposed to know per diem rules in Singapore, Brazil and Norway?”. You take a deep breath and think to yourself that this is just your first day and you’ll learn it with time. Spoiler alert: you won’t.
The truth is, you cannot expect anyone to know the compliance particularities of multiple countries. If you are a global company, staying locally relevant yet globally present is a challenge you’ll face, because staying compliant is everything but a piece of cake. Luckily we’re here to help.
At Rydoo, we build strong bonds with our customers, and part of that involves listening to what they have to say. They told us they needed help with claim approvals to make sure that they are within their policies. They also wanted people who could understand the different rules for expenses around the globe, including the payment of per diem.
Our clients also pointed out the unpopular topic of fraud. Whilst nobody likes to think that their staff may engage in fraud, the truth is that it does happen, so our customers highlighted the need for fraud prevention, identification and reporting methods. Also, we were told that one of the biggest drains on staff morale was waiting for managers to approve claims.
With this feedback in mind, we thought that that might be a good opportunity to improve our client’s lives.
Introducing Rydoo Controlling Services
One of the key benefits of Rydoo is that businesses can automate approvals for simple expense claims. But we realised that, if we were to make Rydoo the centrepiece of a truly end-to-end compliance ecosystem, then we needed to go further.
With customers around the world, including global players and fast-growth startups we realised that whatever solution we came up with needed to be scalable. That’s how Rydoo Controlling Services was born.
Think of Controlling Services like an external expert that acts as an approval manager, leaving your own executives to get on with the business of running a business! Basically, our global team of independent and trained experts will manage your expense approval process, applying local policy and ensuring that payments abide by your policy compliance.
You’ll no longer need to spend hours checking countless expenses and research mileage and per diem rules from a vast number of countries. We’ll help you understand the local tax laws that apply and harmonise your rules as far as possible. Also, our team of objective experts will highlight areas that could be fraudulent so that you can be secure in the knowledge someone has your back.
In other words, you’ll have more time and be more secure that you’re compliant everywhere.
Employees love the changes that Controlling Services brings because it delivers a consistent approach and, more importantly, fast approvals, meaning that your employees get paid quicker.
Managers love it because it reduces their workload and leaves them free to get on with the work they were hired to do.
And executives love it because it removes manual processing, making the whole process much more cost-efficient.
A fully scalable solution to increase policy compliance
Controlling Services is designed to help companies operating across borders maintain a globally consistent approach to expenses.
But it would be a mistake to think that we can have a single approach in each territory. This is why Controlling Services employs specialists who understand local conditions. They can ensure that your policy respects local laws so that you don’t end up with compliance issues.
For fast-growth companies, having a solution in place that gives them space to grow, but doesn’t cost the earth is vitally important. Controlling Services expands when you do, so when you move into new areas or you acquire new subsidiaries the system is able to provide a single expenses tool that works seamlessly. And if you need system responses in local languages, we can agree on templates to use in each location.
In short, Rydoo Controlling Services provides you with a fully scalable solution that will revolutionise the way you do expenses.
Your first step to greater control and faster, more efficient processing
We’ve worked really hard to bring our customers the very best in expense management systems. Rydoo Controlling Services reduces manual workload and speeds up the time it takes for your people to get paid – all from a simple to use scalable solution.
It helps you to remain compliant, wherever your people are and provides a proactive way to spot and deter fraud.
Take your first step to getting more control – schedule a free demo and one of our specialists will show you how easy it can be done.
