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Satellite giant Inmarsat outsources employee expenses management to GlobalExpense
The pioneer of global mobile satellite communications Inmarsat - has outsourced the processing of its employee expenses to GlobalExpense (the pioneer of employee expenses management outsourcing in the UK!).
The move has been implemented company wide and is used by over 250 employees who claim expenses, many of whom are engineers and sales representatives who are frequent travellers to far-flung parts of the globe.
Employee expense management outsourcer GlobalExpense enables all aspects of this complex back-office process to be outsourced (including all regulatory compliance, document storage and repayments to employees). It also allows management to receive highly detailed management information breaking down employee expenses incurred.
Sanjay Patel, Head of Operations and Financial Systems at Inmarsat’s London headquarters, said:
Before appointing GlobalExpense, we did a thorough analysis of what was available and the different alternatives. Whilst expense management software packages can provide some support, GlobalExpense is able to do the complex and time-consuming elements of validating receipts and enforcement of Custom’s requirements regarding VAT receipts.
Those making expense claims at Inmarsat frequently travel overseas. Tax, national insurance regulations and international VAT on employee expenses mean that processing expense claims correctly can be a complicated process. Choosing GlobalExpense will reduce these compliance costs whilst also ensuring we maximise the tax we can reclaim.
Making the switch from a 100% paper based system to GlobalExpense’s package means that staff get reimbursed within three days, no matter where they are in the world. Previously it would take up to 10 days for the finance department to complete the process. Now, if an employee wants to file a claim, they can now do it immediately from wherever they are in the world using a web browser typically from their laptop and the funds will be repaid often before they have landed back in London.
David Vine of GlobalExpense said: Typically employee expenses are a business’s second largest controllable expense. Because of the complexities of tax regulations, if employees don’t enter the right details then it can be very expensive correcting things at a later stage and even more expensive if the VAT isn’t reclaimed.
Businesses also typically have little time to analyse what expenses are being incurred and who is over-claiming or breaking company policy because of the cost and difficulty of coding and retrieving the data this is all automatically done by GlobalExpense resulting in real-time analysis capabilities.
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