Streamlining business finances
Aug 25, 2022

How Expense Automation Saved One Company Money and Time

Rich Beattie

Cost SavingsReturn to blog

How can you scale a shoebox full of receipts?

That was the quandary faced by BenchSci, a Toronto-based company that develops biomedical AI software for scientists. After a trip, employees would put their receipts in the shoebox for scanning—unless, of course, they forgot, which would set off a mad scramble to capture and approve expenses. And all this was happening as the company scaled up to its current size of 300 employees.

Another big issue: The many team members traveling for work would book their own trips, and there was no centralized record of where they were. To fix these issues, BenchSci initially moved to a basic managed travel solution, but even with that technology, many employees didn’t like the experience and still booked trips on their own. And since this platform had no integrated expense solution, employees were paying with personal cards, and the company was drowning in paperwork.

What happened? Read the BenchSci case study now. (Spoiler alert: The shoe-box solution wasn’t scalable at all.)

Making the Move to TripActions

After these unsuccessful experiments, BenchSci knew they needed a change. In 2019, the company chose TripActions as its travel management solution.

Change began to happen. Thanks to TripActions’ user-friendly UI, employees actually wanted to book travel through the new solution. Plus, road warriors loved the TripActions Rewards Program, which incentivizes travelers to make money-saving choices by allowing the company to share the savings with their employees.

Today, BenchSci employees have earned quite a bit in Amazon rewards. (Download the case study to see how much.) “Some folks have done very, very well during my time here,” said Bryn Knox, BenchSci’s Vice President of Finance.

The company has also saved money thanks to TripActions, shaving 20% off of annual hotel bookings and another 15% on car rentals. And with real-time visibility into spend, there’s never a question of where the company stands against the budget.

Deepening the Partnership

The TripActions relationship was such a success that BenchSci also switched its expense management to TripActions, bringing the full power of the solution, including corporate cards, to bear. “It’s a seamless integration,” said Knox.

With fully customizable policy settings, Knox had no worries about giving everyone a corporate card. Now employees feel empowered to travel and spend, and 99% of the company’s travel expenses are auto-approved, with no review necessary. As some BenchSci employees spend up to 80% of their time on the road, the new T&E process has been transformative.

BenchSci has come a long way from that shoe box. The innovative automation in TripActions has given BenchSci employees more bandwidth to make its biomedical AI software even more powerful—and fulfill its mission of helping scientists save lives.

Read more about how TripActions helped transform BenchSci's T&E program.

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