The solution manages operational expenses through application program interface (API) integration which seamlessly synchronizes data across accounting, Enterprise Resource Planning (ERP) systems and Human Resource Management Systems (HRMS) to accelerate back-office processes and increase efficiency and cost savings.

1. Expense management
solution enabled by API
Legacy platforms
with lesser flexibility
and configurability
Proactive decision-
making by tracking
budgets in real-
time
Accelerating lengthy
back-office
processes
Paper-based practices
slowing down key
processes and
increasing labor cost
Challenges faced by institutions
Reinvented business expense management
Real-time
expenses
tracking
Detailed
analytical
reporting
Instant fund
transactions
Automated
record of
transaction
upon card usage
Limits and
controls to
keep expenses
in check using
multi-tier
approval
Smooth data
feed to
accounting
systems
Case study
Context: A global bank providing
investment banking, asset management
and wealth management services to
private, corporate and institutional clients
worldwide was seeking a solution for
automating, simplifying and hastening its
expense management process.
Solution configuration:
• It implemented an end-to-end fully
automated expense management
platform that streamlines the
processes taken for tracking funds,
expenses, transactions and reporting
while complying with the compliance
policy.
• Manual processes were automated to
save resources and time.
• Using API integration, solution
seamlessly synchronizes data with
accounting, Enterprise Resource
Planning (ERP) systems and Human
Resource Management Systems
(HRMS) that client uses to eliminate
the double data entryClient impact:
• Seventy-five percent reduction in
processing costs
• Ninety-six percent reduction in
paperwork
• Hundred percent expense policy
compliance
• Seven times faster reimbursement
• Working capital optimized by sixty-
eight percent
• Zero percent cash leakage
Leading interfaces and technology capabilities
One-click
reconciliation
and reporting
Quick capture
of receipts on
mobile
Tighter control
over travel
spends with
limits and
policies
Channel-
specific limits
Real-time
expense in one
place
Smart expense
policies
Customize
approval
workflows
Cut-off date
reminders
Reconciliation
summaries
Varun Mittal
Global Emerging Markets
FinTech lead
varun.mittal@sg.ey.com
Contact us
FinTech Hub
www.ey.com/sg/FinTechHub