What is Travel and Expense Management?


What is Travel and Expense Management?

Often referred to as T&E, travel and expense management is the process in which the company manages the travel and related expenses of the business travelers such as airfare, lodging, meals, etc.


Most companies consider T&E as part of “the cost of sale.” It could be the cost incurred by your sales team traveling for sales meetings, product demos, or account managers visiting your customers to maintain and nurture the relationships to upsell, cross-sell or to successfully renew contracts and retain the customers.

Why is T&E important?

World over corporates spend a whopping $30 billion on business travel expenses annually, and with the amount set to soar up to $1.7 trillion globally by 2022, it’s time to work on strategizing your travel expenses.


Travel and Expense is one of the most backbreaking operating costs for finance teams to control. With various systems for travel-booking, different payment methods (corporate or personal cards), and accounting, employees and finance teams get bogged down in receipts, expense reports, and multiple follow-ups after every trip.


With T&E being considered the second-most highest operational expense, and consuming anywhere between 6-12% of the company’s budget, streamlining T&E processes and improving controls can have an outsized impact on financial performance as well as enhance the employee experience.


As Uttam Gujrati, the VP of Finance at Onward Technologies succinctly puts it:


T&E is a major expense item for any services company after payroll. It’s roughly in the range of 5-8% of the total cost. So, it has to be looked into very carefully in the process. Even a 0.5% improvement can have a clear direct impact on your bottom line. So, it’s a very high-value item and CFOs should not turn a blind eye to it.


T & E Management: Practices, Pain Points, and Productivity


A comprehensive travel and expense management process should encapsulate the T&E lifecycle, from the beginning of a business trip to the post-trip spend analytics stage. An ideal T&E management (TEM) solution handles the complete expense reporting workflow, right from the uploading of a receipt, to its approval and reimbursement. With advanced features like auto scan for receipts, your TEM solution should stand out as a simple, yet efficient solution to manage and optimize your organization’s expenditures.


To get a fair idea of what businesses use when it comes to travel & expense management, let’s look at the common practices, the pain points businesses experience, and how having the correct systems in place can improve productivity.


How businesses decide their Travel & Expense Budget

Travel and entertainment (T&E) is one of the most difficult of all expense categories for which to budget. Not only is overall travel volume unpredictable, but the cost of any given trip is also highly variable based on market rates and demand. Moreover, the amount a company spends on travel depends on thousands of purchasing decisions made by individual employees. T&E isn’t just a complex expense, it’s a significant one.

Though it’s challenging to forecast travel expenses on an annual basis, it’s not impossible. Formally analyzing how employees are spending on their business trips will allow for more accurate estimates of the company’s overall cost structures.

How businesses Spend The Expense Budget

Not surprisingly, business travel spend differs based on an organization’s size. Larger enterprises spend more than one-third of their T&E budgets on air travel—more than either the large or middle-market sectors.

For large companies, air travel represents 31% of their budget, while in the middle market, airfares (which might skew more toward domestic vs. international travel) represent only 24% of the budget. Government and non-profit organizations show a different balance. Understandably, restaurant and entertainment spend is relatively low, totaling only 13% of their budgets, as compared with mid-sized companies that designate a total of 20% for meals and entertainment.

What happens when businesses cut down on the T&E budget?

While optimizing your T&E cost is essential, cutting down the T&E budget might not necessarily yield favorable results. Meeting your prospects and customers in-person is crucial to the success of your business

A study conducted by Oxford Economics found that reduction of travel budget had no effect in 66% of the companies, positive results in 2% of the companies and yielded negative results in 32% of the companies.

In fact the study found that business would lose 28% of its customers could be lost without in-person meetings.

Similarly, other elements of business travel such as trade shows, internal company meetings, etc had overwhelmingly positive ROI.

Corporate Executives : ROI of Business Travel


Source: Oxford Economics

On the other hand, the T&E expenses increase every year by an average of 3%. While it is important to keep your OPEX under control, it would be safe to say that cutting down your T&E budget is not the best way to go about it.


Jason M. Lemkin, trusted advisor of SaaStr— the world’s leading community for business software, explains in this post how by his business lost a 6 figure customer, while doing everything right.


Losing a 6 Figure customer

I remember first time I lost a 6 figure customer, It was a surprise

  • They were using the product everyday and constantly
  • They had done a case study for us, It was in our Homepage
  • They had renewed the contract and added additional seats

And one day, we got a call. Our competitor was there, on site. And convinced them they had a better solution for a few critical 10x features.

And then he goes on to explain, what should they have done in hindsight to have avoided this.


We should have

Visited the Customer : At least twice a year. We never did. Its all done over the phone.

Source: Quora

How businesses manage their T&E

The T&E management process can broadly be divided into three parts.

Mode of Spending

Expense Reporting

Expense verification
and settlement

1. How payments are made

The mode of payment for travel and related business expenses varies greatly from company to company. Majority of the companies use one of these 5 solutions along with cash advances.

(i) Corporate Credit Cards

The corporate credit card is a widely used solution, especially by large companies. There are two types of corporate credit cards.

Company-held credit cards: The bills have to be settled by the company.

Personal-held company credit cards: The employee is responsible for paying the card issuer while getting the business expenses reimbursed from the company by submitting expense reports.

Disadvantages of corporate credit cards

  • The policies are not automatically enforced. It is on the employees to adhere to the company policies.
  • Mixing personal and business expenses
  • High probability of policy violation and misuse.
  • Any unapproved charges can end up as liability for the employee
  • Employees are responsible for paying the bills. It can become challenging especially when managing a large traveling workforce.
  • Education and training on the proper use of the corporate card is necessary
  • It is comparatively an expensive option.
  • Employees might have to wait up to 10 days to get a replacement if the card is lost or stolen.

(ii) Central Traveller Account & Single-use virtual accounts

While both these solutions come in handy for companies with a separate travel desk that manage all business travel booking. They are full-fledged travel expense solution and it is not a great option to be used by the employees.

(iii) Personal credit cards

Here the burden is on the employees to manage the business expenses. It is never a good idea and affects the morale of the employees especially the reimbursement is not done on time.

(iv) Prepaid corporate cards/Travel Card

A powerful alternative to cash advances, corporate debit or credit cards.

Here's how it works

  • Each employee gets their Prepaid Corporate Card, pre-loaded with money
  • They can use the card for a variety of business expenses - travel, food, hotel, etc.
  • These cards are accepted everywhere — at any online or in-store VISA/ Master merchant and any ATM.

It is by far the best solution for making business travel expenses and here’s why,

  • It gives companies complete control over business expenses and ensures 100% compliance.
  • Ability to be remotely controlled by company administrators from a mobile or web interface.
  • The company can fund cards, track expenses, set limits and approve expenses in real-time, on the go.
  • Add or remove funds with a tap of a button.

Learn more corporate prepaid cards here >>

2. Expense reporting process

The second step in the process is expense reporting. Once the expenses are made, the employees (business travellers) report their expenses to their managers and the finance department along with the receipts.

Traditional pen and paper (Vouchers & PRNs)

Excel and Spreadsheets

Roughly 23% of the companies use Excel and spreadsheets and other semi- automated systems to expense reports

Expense management solution

Over 70% of companies worldwide have adopted a dedicated expense management solution. However, this number is much less in the east, where more than 65% of the Indian companies still use a manual or semi-automated system.

Expense verification, processing, and settlement

  • Manual verification
  • Semi-automated using ERP or accounting software
  • Fully automated expense management solution
  • (i) Manual expense processing

    The finance team manually reviews, verifies each claim of the expense report and makes the settlement. Each expense report can take anywhere between 20 to 60 minutes to process.


    Approximately 30% of the companies globally and 65% of the Indian companies still process their T&E manually.


    From lack of visibility, expense fraud, lengthy reimbursement process, inability to enforce travel policies to poor employee productivity the inadequacies of manual expense processing is inefficient, outdated and comes with clear disadvantages.

    Cost of manual processing and impact on the bottom line

    While manual processing of expenses has been the norm for centuries, it does come with some serious disadvantages​—​the first and foremost being the hidden costs.


    According to a ​study ​by the GBTA, the average cost of manually processing an expense claim ranges between $43 to $58. It does not end here. On average there is at least an 18% error associated with it and 3000 hours are spent on correcting these errors which again costs $52 per report. Here is an infographic that illustrates the hidden cost of manual expense management.

    In contrast, the cost of automated or electronic expense management is 58% cheaper.


    Here is a mock calculation that compares the cost difference between manual and automated processing in a Fortune 500 company.

    The average number of employees in a Fortune 500 company is 30,000. According to a ​JPM study​, 18.4% of the total workforce travels on business every month in a Fortune 500 company.


    Cumbersome and error-prone process

    Apart from the cost to the company mentioned above, which can be avoided, the manual paper-based expense management is a cumbersome process that is prone to human error. Here is an infographic that depicts the traditional expense-management process in detail.


    Here is how the process can be simplified with automation.

    Lack of visibility and control

    Majority of the Indian companies use ERP, HRMS, or some custom software. However, the data is maintained in silos and are not completely integrated.


    According to the aforementioned benchmark study, 82% of the companies do not have an automated process for travel and expense management. Lots of companies even struggle to revisit the expenses of the previous year. Analytics and deriving insights are therefore not possible. The CFO has very little actionable insight to be able to optimize the cost.


    With automation, you not only get real-time expense tracking and analytics. It allows companies to extract insights and further optimize costs. Companies also get to benefit by partnering with commonly-used suppliers and vendors.


    For example, ​Uber for business​ can now be integrated with most of the leading automated travel-expense management solutions in the industry. There is no need for a receipt, spreadsheets, and paperwork. The employee’s UBER expenses are automatically integrated with your accounting software such as Quickbooks, Tally, etc.


    T&E automation software ​ seamlessly integrates with hundreds of other vendors and allows you to negotiate better corporate discounts.


    “65% of travel cardholders negotiate discounts on travel, lodging, and auto rentals,'' says the JPM study.


    (ii) Limitations of ERPs for expense management


    While the mode processing and settlement is slightly less complicated with ERP software compared to manual processing, the mode of payment i.e. how the end-users spend is not easy to use.


  • ERP is neither a complete nor a cost-effective solution
  • The core purpose and application of ERPs are well-suited for handling travel and expense management.
  • ERP solutions do not provide mobility and flexibility to the users
  • Integration with other business software is not easy to implement
  • User interface & end-user experience is not suited for expense management
  • Good Read: Why legacy ERP modules don’t cut it for modern-day expense management


    Automation


    What is T&E automation?


    T&E automation is the process using specialized (Expense Management) software to capture, report, process and reimburse employee travel and related expenses to increase productivity, ensure compliance and streamline the process end-to-end.

    Why you need T&E automation?


    If your company has a significant chunk of employees taking frequent business trips and facing one or more of the following problems, then you should consider buying an expense management solution.


    If your company manages travel expenses manually, here’s an eye-opener for you: a study conducted by the Global Business Travel Association (GBTA) found that processing one expense report costs $58 on an average. Let’s say that your firm has 10 employees away on business trips, who will later submit 10 expense reports. Statistically, you would have to spend $580 to process these reports. Also, if a significant chunk of your employees take frequent business trips and face one or more of the following problems, then you should consider buying an expense management solution.


  • Unauthorised travel bookings
  • No control over travel costs
  • Late submission of expense reports
  • Delays in travel reimbursements
  • Pool travel policy compliance
  • Poor visibility into T&E spending
  • Difficulty in claiming GST input credit
  • No integrations with other Enterprise systems

  • Why you need T&E automation?


    If your company has a significant chunk of employees taking frequent business trips and facing one or more of the following problems, then you should consider buying an expense management solution.


    If your company manages travel expenses manually, here’s an eye-opener for you: a study conducted by the Global Business Travel Association (GBTA) found that processing one expense report costs $58 on an average. Let’s say that your firm has 10 employees away on business trips, who will later submit 10 expense reports. Statistically, you would have to spend $580 to process these reports. Also, if a significant chunk of your employees take frequent business trips and face one or more of the following problems, then you should consider buying an expense management solution.



    1. Compliance

    The biggest advantage of using automated expense management software is 100% compliance. Once the policy and rules are applied, the software automatically ensures to alert the stakeholders of the violation. It also makes the policy easy to access for employees. When your compliance is 100%, the additional expenses incurred from violation and fraud are eliminated. So, your financial forecasting is more accurate.


    2. Faster reimbursements and reconciliation

    With an expense management solution in place, all the components of an expense report such as advance, receipts, compliance information are available are tagged to that particular report and available in one place. Hence reimbursements can be made with the click of a button. Whenever clarification is required, the complete expense trail is visible to the employees as well as the approvers. The finance team and other approvers can seek further clarification on the same trail to reconcile faster.




    3. Pre-authorized travel booking portals

    Fully automated expense management solutions such as Happay comes with inbuilt travel booking portals that work in conjunction with the leading travel booking companies. The portal fetches the best available travel option at the best possible rates for the proposed itinerary in compliance with the employee’s travel policies and limits. The system allows companies to encode detailed configuration based on travel policies such as,


  • Acceptable classes of service
  • Preferred travel vendor
  • Ancillary fees
  • Changing and cancellation of flights
  • Advance booking window

  • Ex: All air travel bookings have to be done before 15 days. This allows companies to avoid expenses incurred due to last-minute travel bookings.


    4. Single point visibility into all expenses


    Real-time visibility offers the finance team a huge advantage. It allows companies to consider the total expenses to date before committing to future purchases. It allows to better control the cash flow and increases the accuracy of forecasting expenses. With automated expense management tools, the entire spectrum of your company’s expenses is available on the dashboard in real-time.


    5. Advanced analytics


    A sophisticated expense management system can convert your spend data into crucial insights that you can use to negotiate better deals, drive cost savings, improve compliance and optimize internal processes. Here a few questions, T&E software can help you answer.


  • What % of the annual budget is your T&E?
  • What is the company’s largest expense category?
    • Airfare
    • Lodging
    • Meals
    • Car Rental
    • Others

  • What are the most expensed brands in your company?
  • What is the most expensed airline?
  • What is the most expensed lodging partner?
  • Which sectors or regions are your employees frequently traveling to?
  • Which expense type has the highest % of non-compliance?
  • What is the true cost of sales?

  • 6. Storage and Auditing

    Storage of mountains of receipts and expense reports which fade out over time is a painful and inefficient process. This makes revisiting or auditing past expenses even harder. It is one of the reasons why it takes companies such a long time to uncover fraud. With an automated expense management solution, the receipts are reports are digitized allowing you to revisit a particular expense nested under a report at any point in time.
    Online expense management solutions also offer 10 years of data backup thereby allowing meet the standards of the regulatory body. Solutions such as Happay also has provision to allow access to external auditors.



    Drafting A Corporate Travel Policy


    Occupational fraud in T&E management


    Expense reimbursement is the 3rd biggest occupational fraud in the APAC region. Together with ​cash in hand, ​ they account for 30% of all expense fraud​. Industry reports claim 14.5% of reimbursements made are either misappropriation or fraud. If an equal value is assumed for every claim, then for every $100 reimbursed $14.5 is fraudulent.


    What is even more shocking is that 48% of CFOs cannot validate if the metric holds for their company due to the lack of visibility and control. Here is a cautionary tale from Wells Fargo,



    The Fake Dinner Receipt Scandal

    Wells Fargo has a policy on after-hours meals i.e. employees working late are eligible for getting their meal expenses reimbursed. However, it turned out dozens of employees from analysts to managing directors had forged the time stamp on receipts to avail free meals. Eventually Wells Fargo fired them for violation of company's expense policy.

    Source: Wall Street Journal


    Most companies have a well defined T&E policy. But the real challenge lies in compliance. Manually auditing all these expenses is not feasible. Even if it is possible, it is not very effective as it is more of a remedial measure than prevention. It takes an average of 24 months to identify fraud and non-compliance.


    However, this is not the case with automated T&S management. Automated T&E software can help employees comply with policies, raise red flags when a policy is violated, and alert the management when the violation is repeated. It makes the enforcement of these policies automatically, prevents fraud, and enables 100% compliance.



    Crafting an effective T&E policy


    Your travel policy lays the foundation for your travel system. It’s important to adopt an effective travel policy to cut overspending at the source.


    Let’s discuss the best practices to formulate, communicate, and enforce a travel policy that will encourage your employees to adhere to the rules while ensuring their productivity and satisfaction.


    The role of a T&E policy is to,


  • Clearly define the type of reimbursable and non-reimbursable expenses to the company
  • Educate the employees on their responsibilities to control and report travel and entertainment.
  • Describe the process to report travel expenses and claim reimbursement.

  • Formulating the policy


    It is impossible to foresee and define every aspect of T&E. Hence it is good to treat T&E policy as a continuously evolving framework.
    Make the T&E policy as comprehensive as possible, describing all conceivable scenarios.



    Here is an outline



    TRANSPORTATION

    Air Transportation

  • Domestic
  • International
  • Ground Transportation

  • Cars
  • Rental Cars
  • Own Cars
  • Taxis
  • Rail, bus

    LODGING

  • Domestic
  • International
  • OTHERS

  • Meals
  • Miscellaneous
  • Cancellation policy
  • Reimbursement policy
  • Approval Process
  • Dos and Don’ts
  • Disputes and Settlements

  • Clearly, list the types of reimbursable and non-reimbursable expenses. Miscellaneous expenses is often a grey area, hence it is better to list it down and add it to the policy. Here is a list of most common miscellaneous reimbursable and non-reimbursable expenses. This list is not all-inclusive and there may be additional or similar reimbursable and non-reimbursable expenses that are not listed.



    Miscellaneous Reimbursable Expenses

  • Laundry and dry cleaning charges when travel is more than (x) number of consecutive nights.
  • Internet connectivity in hotels, airplanes, and public places.
  • ATM fees when withdrawing money on your card for foundation-related business expenses
  • Mileage on personal cars and costs related to the operation of the vehicle, including service, maintenance, insurance, and depreciation, etc.
  • Overweight baggage if the overage is due to equipment required for business
  • Business visa (or equivalent) or expenses associated with obtaining a business visa
  • Voice over Internet Protocol (VoIP) related expenses, i.e., Skype minutes.
  • Local SIM cards for use in foundation issued mobile devices or cell phones
  • Electronic toll payment


  • Non-Reimbursable Expenses

  • Out-of-pocket expenses submitted more than (number of days. Eg: 60 days) after they were made.
  • Incurring expense for earning airline miles for personal use.
  • Health club services, e.g., massages, manicures, personal trainers
  • Personal travel expenses, including sundries or recreational reading
  • Movies (in-room and in-flight movies)
  • Costs for personal guests
  • Cost of business clothing
  • Expenses incurred by spouses or partners of employees
  • Personal gifts
  • Gift cards in any amount for employees or non-employees
  • Gifts to customers, vendors or participants
  • Any contributions paid on behalf of customers.
  • Donations added onto final hotel bills
  • Tourist visa during long transits

  • A couple more tips


  • Create an FAQ section for exceptional situations. Eg: Meal with a client etc,
  • Clearly and repeatedly educate your employees about the T&E policy
  • Make T&E training mandatory for employees
  • Educate the employees on the importance of T&E to exercise good judgment concerning business expenses and spend the company’s money judiciously as their own.
  • Provide a platform and create a seamless process to make it easy for the employees to report expenses on time.
  • Periodically review at the T&E data to extract insight to save money.

  • To increase employee compliance, don’t limit your travel policy to just dos and don’ts. Instead, explain why these particular rules have been laid down and how they align with your organization’s objectives. If your policy just lists rules without any corresponding reasoning, it might confuse the employees more.


    Communicating the policy


    So the travel policy is ready. However, your employees are still unaware. The key to complete compliance is to educate, communicate, and update.


    Sometimes, travel managers just e-mail a copy of the travel policy to their employees and call it a day. But how would you, as a travel manager know if the policy has been read? How could you be confident that it will be followed?


    Here’s where travel managers can take charge. Using multiple channels to educate employees - for instance, setting up workshops before business trips, or arranging one-on-one sessions where the travel team can explain the basis of the policy. These meetings also act as a platform for employees to raise questions about the travel policy and ask for clarification.


    Your travel policy should be easily accessible. Employees should receive it in their emails before booking for travel, and it should also be a part of the ticket booking and expense management tool. Every time an update is made in the policy, employees should be informed at the earliest. These are some ways employees can access the policy easily and stay compliant.


    Employees should also have a definite say in the travel policy. After all, they experience how the policy affects on a first-hand basis. To gather feedback, various online survey tools or ad-hoc methods like emails and meetings can be used to get an idea of the traveler’s preferences. The feedback obtained can help in formulating a better policy for the organization.


    Implementing the policy


    A healthy practice to increase compliance is getting the senior management to mandate the travel policy.
    To maintain further compliance, decide who will be in the driving seat of enforcing the policy if there is an internal travel team, they can take up this responsibility. Educate your travel team or if you’ve partnered with a Travel Management Company (TMC), the policy as well as the steps to be taken in case of non-compliance.
    Apart from executing these options, many firms are moving towards online to automate policy enforcement.

    Implement an online expense management system


    As the organization scales, good technology helps improve compliance rates by simultaneously reducing manual work. Having the travel team memorize the policy to discover non-compliance is not a practical approach!
    Step up the compliance of your business by automating your travel policy with the help of an expense management system. A study by Aberdeen Group states, the biggest factor driving business to invest in an online expense management system, is an effort to improve compliance within company policies on T&E. Another study by Levvel Research states expense management systems improve the ability to implement travel policies by 59% and improve user satisfaction by 37%.

    Read more

    Choosing The Right Expense Management Software


    How to choose the right expense management software?


    When it comes to choosing the right expense management solution, there are 6 major parameters to consider.


  • Ease of administration
  • Ease of set-up
  • Ease of doing business with
  • Ease of use
  • Quality of Support
  • Meets Requirements





  • Simplicity/Ease of Use
  • Expense Management Automation
  • Integration with ERP/HRMS
  • Mobile Application Accessibility
  • Reporting Analytics
  • Ability to enforce Travel Policy
  • Integrated travel booking solution



  • Compliance & Control


    Different stakeholders within an organization have different requirements. In case of an expense management solution the finance team, the employees and the CIO/ IT team are the major stakeholders with different requirements. Hence it is important to evaluate the product fit through the lens of the respective stakeholders.

    Requirements of a CFOs/ Finance Team


    Policy & Compliance


  • How does the solution support your finance team to enforce fine-grained policies?
  • Does the solution allow you to embed eligibility matrix?
  • Does the software allow you to impose spending caps and restrict usage of cards based on Merchant Category Codes (MCC)?
  • Does the software have provision for incidental allowances?
  • Does the solution support multiple currencies and global operations?

  • Expense approvals


  • Does the software provide the flexibility to account for deviation and implement multi-level approval workflows?
  • Is the solution customizable for different business units of the company?
  • How does the solution simplify the process of reconciliation and reimbursement for the finance team?

  • Visibility and Control


  • Does the solution provide single-point visibility into all expenses?
  • How effective is the solution in eliminating expense frauds and non-compliance?
  • Does the solution automatically capture tax (GST/VAT) and aid in advanced tax tracking?
  • Does the solution have global reporting capabilities?
  • How insightful and accessible is the expense analytics provided by the software?
  • Can the software be seamlessly integrated with accounting software and ERPs?
  • Does the software offer necessary back (min. 7 years)?
  • Does the software facilitate internal and external auditing?

  • Requirements of an employee/ business traveler




    Requirements of a manager


    The requirements of a manager are slightly different. The software should facilitate easy review and approval of their team’s expenses while providing visibility.


  • Does software aid in the guided review of expense reports?
  • How does the software facilitate the reconciliation of expense reports?
  • Does the software notify managers on policy violations and send out other important reminders?
  • Does the software provide visibility into team expenses?
  • Does the software allow managers to automatically approve 100% compliant reports?
  • If off-duty, does the software allow the managers to delegate their tasks?

  • Requirements of a CIO


  • Is it possible to integrate the solution seamlessly with other tools such as ERP, accounting software etc?
  • How effective is the implementation and what is the expected timeline?
  • How does support of the solution provider fare?
  • Does the solution provider aid in effective change management
  • How effective is the security and what are the security certifications held by the solutions provider?
  • How reliable is the solution, what is the average downtime and how frequent are the upgrades?

  • What do businesses using expense management software have to say?

    42% of businesses admit that automation aids in reducing the time spent in creating and approving expenses. An astounding 92% of the companies are achieving a full return on investment in two years or less. This only goes to show that the system you are investing in should be worth the resources you put into it.
    Although businesses are gradually embracing automation in expense management, the real potential can be unlocked only when you prepare your business for automation. Let’s take a look at what Mr. Shankar J, Sr. Manager, Commercials, V-Guard had to say about Happay. Expense Management is one of the toughest things, I would say, at any organization. Our company has employees touring – and at a point like this – verification and approval of these expenses become critical. Every expense report had at least one policy violation. We had to be extra careful, and this required more man-hours, endless emails, and couriers for reconciliation. We were looking out for a process for a long time. In fact, we had a discussion with our systems team. They told us that such a complex solution would take time to be developed and was sure to have hiccups. As a safe and easy-to-use solution, Happay helped set this process in place.

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