No matter how small or large a business is, expense management is critical to the smooth functioning of its operations. Especially for a company like Ula which is at its growth trajectory, a streamlined process of expense handling is essential for effective coordination among their business units.
Founded in 2020, Ula operates a wholesale e-commerce marketplace for small and micro retailers in Indonesia, to help scale their businesses. The Indonesian e-commerce startup recently closed on their Series B funding and are planning on utilizing it to expand its geographic coverage, recruit more team members along with enhancing their product.
“We’re looking forward to expanding our teams across Indonesia, Singapore and India. Handling employees’ finances across countries can be a difficult task especially in a company which is at its prime and looking to recruit new talent everyday. With ITILITE’s technology, we are excited to elevate our internal team’s experiences and boost employee engagement.“ – Auro Sen, Head of Finance, Ula
Keeping in mind the pace at which they are growing, Ula decided to replace their dated expense management system that with ITILITE’s completely automated platform. Their multi-geography presence was making the reconciliation process cumbersome for their finance team. With different policies for multiple stakeholders they were also missing out on control which often created heaps of confusion for the team. The absence of visibility into their spends was proving to be a roadblock in their organizational growth.
ITILITE’s robust, well integrated and automated expense management platform opened the gates for maximum pan-organizational productivity, right from the start of its adoption. The entire process of filing expenses right up to its approval was simple and quick not only for the employees but also for the finance team. The platform was policy compliant with integrated approval flows cutting down on the waiting game for the employees. And with employees always on the move, ITILITE’s mobile app provided an on the go accessibility, single-click approvals consequently reducing time spent on such transactional activities.
Additionally, employee spending can be tracked in real time with automated expense management. Furthermore, a variety of analyses can be done on this consolidated spend data (from summaries to drilled-down reports of actuals), allowing the team at Ula to detect and rectify any leakage, as well as assure compliance with internal and external regulations. Compliance is no longer a burden on employees, supervisors, and finance and admin teams, thanks to automated spend limitations at the department, team, and individual levels. With this abundance of control that Ula now has, they will always be audit ready!
Anish Khadiya, CBO, ITILITE, said,”We have been helping over 300 businesses globally to manage teams in different geographies in a hasslefree, efficient way. With ITILITE, they can focus on accelerating their growth, instead of managing the process. We are excited to contribute to Ula’s journey of growth by bringing their expense management process on the web.”
A solid expense management can do wonders for any organization. By deploying the ITILITE platform, the team at Ula has not only gotten a grip on their company wide spend, while saving time and effort doing it.