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Tax advisory and advisory services in India by Grant Thornton aim to help businesses of all sizes to formulate and implement effective strategies to optimize...
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Grant Thornton Bharat sustainability report 2023-24
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Grant Thornton Bharat offers tailored assurance and auditing services in India, ensuring NFRA compliance, sector expertise, and risk-based audits for credible...
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Quarterly GAAP Bulletin – January 2025
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Thought leadership Co-lending in India: Expanding credit access for MSMEsIn today’s rapidly evolving financial landscape, co-lending has emerged as a key enabler of credit expansion in India, facilitating partnerships between banks and non-banking financial companies (NBFCs) to extend credit more efficiently to underserved segments. -
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Article Economic Survey 2024-25: Deregulation, investment and innovation for a Viksit BharatIndia's economic growth remains for a steady trajectory with real GDP expected to grow at 6.4% in FY25 and in the range of 6.3%-6.8% in FY26, reflecting resilience despite global uncertainties.
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It is crucial for organisations to maintain records of business-related travel expenses incurred by employees. However, they often face challenges in capturing, reporting, and analysing these expenses. Without a well-structured travel and expense (T&E) management system, month-end procedures can become disorganised. Additionally, some organisations still rely on outdated manual processes, resulting in decreased employee productivity as they devote significant amounts of time to documenting details of their business travel.
To ensure a seamless employee experience, organisations can streamline all stages of the T&E process, from submitting travel requests to reimbursement, through automation. This not only provides businesses with an overview of T&E expenses but also enhances operational efficiency.
Grant Thornton Bharat has collaborated with Happay, India’s leading T&E management solution provider, as its certified Implementation Partner. Our dedicated team of experts uses a reliable approach for implementation and provides assistance with technical configuration.
The key objectives that organisations aim to achieve through the optimisation of T&E management are:
Balancing employee needs with organisational goals
Aligning employee needs with organisational goals in the context of T&E management solutions involves a delicate synchronisation of priorities to ensure mutual benefit and efficiency.
Employee priorities
- Convenience and ease
- Real-time visibility
- Faster reimbursements
Challenges faced by employees
- Lost receipts
- Review policy violation
- Lack of awareness aboutT&E
- PolicyLate report submission
- Lack of visibility intospendings
Organisational priorities
- Compliance to policy
- Cost control
- Employee experience
Challenges faced by organisations
- Audit for compliance
- Fraud/duplicate claims
- Corporate cards forpersonal use
- Asynchronous data acrosssystems
Key features of our comprehensive T&E management solution
How Grant Thornton Bharat can help
Prepare
Establish a project structure for effective governance and integration planning
Design
Design review workshops and Happay design blueprint
Develop and test
Configure T&E support interface and user acceptance testing
Deploy and support
Dedicated support team and hand over documentation
