In the context of digital transformation becoming an inevitable trend globally, Deloitte Belgium has shown itself to be one of the pioneers in applying modern technology to solve challenges in cost management. With more than 4,000 employees and a huge volume of cost reports each month, Deloitte used to face many difficulties in processing quickly, managing costs accurately and transparently. However, everything changed when they embarked on the digital transformation journey.
1. Challenges in traditional cost management
Expense management at Deloitte used to be a month-end sprint. Reports piled up, paperwork piled up, not only stressing the finance team but also making it prone to errors. Receipts had to be manually processed, carefully filed, and reports sent to tax authorities or clients had to be accurate.
In addition, not having an immediate view of costs by project or customer makes it difficult for Deloitte to track and control spending effectively during the month.
2. Digital transformation solution – the fulcrum of effective cost management
Deloitte has implemented a modern cost management software that has completely changed the way it operates. From a paper-based, manual process, Deloitte has entered the digital era with outstanding improvements.
Real-time expense reporting: The new software allows employees to scan receipts and submit expense reports as they occur. No more reports piling up at the end of the month, all information is processed immediately, reducing workload and ensuring a continuous flow of data.
Digitize the entire process: All receipts are securely stored in the cloud, eliminating the need to keep paper copies, saving storage space, and meeting all legal standards thanks to agreements with tax authorities.
Seamless ERP Integration: Deloitte uses the SAP ERP system, and the cost management software has been integrated bi-directionally with this platform. This keeps data in sync, any edits in the reports are automatically updated, providing absolute consistency and transparency.
3. Impressive results
Thanks to its automation capabilities, the system has helped Deloitte Belgium Significantly improve the accuracy of expense reporting, early detection of discrepancies and fraud. At the same time, reducing manual tasks such as paperwork processing has freeing up finance staff, allowing them to focus on analytical and strategic tasks, contributing to enhance the performance of the entire organization. In addition, the system also Optimize VAT refund process, helping businesses save significant time and costs.
4. Lessons from Deloitte Belgium for Vietnamese businesses
Not only Deloitte, in Vietnam, many businesses are also promoting digital transformation to optimize cost management processes. One of the notable solutions is Bizzi, a modern cost and invoice management software.
What does Bizzi Expense bring to Vietnamese businesses?
Bizzi Expense is the leading cost management platform, trusted by large corporations such as Masan Group, Mondelez International, Pierre Fabre. With optimal automation capabilities and flexible integration capabilities, Bizzi not only manages costs but also optimizes business resources.
Bizzi Expense's standout features include: automated approval processes, in-depth expense analysis, real-time financial reporting, and seamless integration with existing systems. This helps businesses reduce processing times, increase accuracy, and make quick, accurate financial decisions.
Bizzi Expense's intuitive, user-friendly interface makes it easy to learn and use. By modernizing expense management processes, Bizzi helps businesses improve operational efficiency, minimize risks, and achieve sustainable growth.
In addition, Bizzi Expense also has 20+ other features to help businesses manage expenses and control business costs closely.
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5. Conclusion
Digital transformation is not only a trend but has become a mandatory requirement for large enterprises such as Deloitte or Vietnamese enterprises to maintain competitiveness. Solutions such as modern cost management software not only help reduce work pressure but also bring transparency, efficiency and cost optimization to the organization.
Is your business ready to embark on this journey?
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