The digitalisation of expense management enabled Howden ČKD Compressors to be much more efficient in accounting operations related to employee and travel expenses. The successful Czech compressor manufacturer chose well-proven expense management solution expense@work from the Czech consulting company LLP Prague.
Howden ČKD Compressors is a Czech manufacturer of industrial compressors with a history of almost 150 years. Its products, mainly radial-flow turbochargers and piston compressors, are used in oil and gas extraction and transportation as well as in petrochemical, power engineering and steel making industry.
The company services and rebuilds a wide array of their own products as well as other manufacturers’ compressors. The ČKD brand is well-known both locally and worldwide where around 90% of the company products are exported. For more information visit www.howden.com.
Howden ČKD Compressors was searching for an expense management solution to streamline the processing of employee and travel expenses by the finance department and, at the same time, to give employees a tool to make these processes easier.
Expenses had always been processed “the old way” — using paper documents and Excel spreadsheets which was complicated and inefficient. Due to errors in primary data acquisition, thorough and time-consuming checks were required. Additional time was required when employees needed to check their expense submissions because communication between them and the financial department was not flexible at all.
Howden realised the manual expense claim process was unsustainable for the future, therefore management decided to automate the entire process and to fully replace paper documents and Excel spreadsheets. Management was looking for a software solution that would keep errors in data entry at the lowest rate possible.
They also wanted the solution to be capable of offering a convenient overview of the entire process in progress and approval of travel requests. Another required feature was an easy option to review and audit the entire expense posting/clearing involving multi-day business trips or several-month-long stays. It was also necessary to have the ability to integrate with the current ERP system Microsoft Dynamics AX 2009.
„With the help of expense@work, it only took three months to finish a complete digital transformation from a purely manual expense management process. This transition made things easier for us, which resulted in saving half of the working hours of one financial accountant. The process of travel expenses approval, reimbursement of business trips, and petty cash has become much faster and all documents are now digitally archived and easy to find. I believe that the mobile version of the expense management solution will be equally successful.“
Despite the parent company using the Concur system for employee expense management, Howden ČKD Compressors chose expense@work because it is better in every aspect. One of the key benefits of selecting expense@work is its full support of local language and legislation, especially when calculating travel expenses. This factor is usually the Achilles’ heel of other globally deployed solutions.
After the initial analysis, it was decided that the new system would include the following features:
LLP Prague implemented the expense@work solution in approximately three months at the end of 2018. Around 100 users are currently using the system.
After a brief test run, all employees started to use the system and the following benefits were reported: