Expense management App: connect First Credit Union Case Study
connectFirst Credit Union is the tenth-largest Canadian credit union, offering an extensive range of financial services and products. It has over $5.5 billion in assets under administration and more than 125,000 members across 41 locations in 26 southern Alberta communities. connectFirst Credit Union has been recognized as one of Canada’s Best Managed Companies.
connectFirst Credit Union sought to enhance the laborious expense management and poor reporting experience brought on by the paper-based procedure, and numerous business-critical workflows finally became obsolete. Despite high operational costs and error rates due to human data processing, the Customer needed clarification on the breadth of automation necessary to advance their company’s expense management. Besides, Paper documents were also vulnerable to lose or damage.
As a priority task, our team at Evolvous designed and implemented a custom web application for user expense management and further authorization on invoices. The goal was to achieve a streamlined process for expense management.
Implementing a custom expense management system and its integration with the Customer’s document management solution brought much-needed efficiency into expense processing. The system enabled centralized visibility into all items such as status, Requestor, Period, Date Submitted, Approving Manager, Approved Date, Expense total, Total KMs, Expense Paid or not, and Bank Details.
connect First Credit Union made an essential step towards digital business transformation and improved the overall experience for the internal team with a user-friendly expense management system. It significantly reduced the manual effort for bill generation, collection and processing. Moreover, it prevented any manual delays or errors.