KPMG expects to save £1m a year after putting its expenses system online.
The accounting company will increase productivity by reducing red tape and
halve its finance team to 10.
The move has also reduced the time it takes employees to receive expenses by
more than half.
It now takes only two days for expenses to appear in staff bank accounts
compared with five days previously.
Alan Dean, KPMG e-projects manager, believes the move has improved
productivity. "If you empower employees you receive trust in return,"
he said. "The reduction in red tape has helped increase productivity,
freeing-up line managers to concentrate on added-value parts of the role."
Employees’ corporate Amex credit cards are linked directly to their Intranet
expenses account. A receipt of each transaction is printed out and a barcode
sent to the finance department.
If finance does not receive five consecutive barcodes, expenses are stopped.
The system cost the firm between £500,000 and £1m to install. It expects to
save more than the outlay in the first year.