Introducing Smart Expense Management: Transform How Your Global Business Handles Expenses

Managing expenses across multiple entities and currencies has long been one of the most challenging financial operations for global, multi-subsidiary businesses, and a top priority for finance teams to solve. Traditional expense management processes that rely on manual reports, reimbursements, and cross-department approvals result in bottlenecks for both the finance team and employees. Studies show that employees spend on average 24 minutes each day on expense processes, including expense reports, while businesses claim losses of around €800 per employee each month due to manual data entry.

This is why we're excited to introduce you to Fyorin's comprehensive expense management solution, built to streamline multi-entity expenses with unprecedented control, visibility, and efficiency.

Our platform was purpose-built for businesses operating across multiple jurisdictions and managing expenses across multiple entities. Here's how our consolidated platform gives you centralised control without sacrificing flexibility:

Configure ledgers and cost centres for various entities

Set manual accounts for out-of-pocket expenses and enable cross-entity charging

Customise cost categories to align with your ERP or define new ones

Generate detailed reports by entity or currency

Maintain full control while streamlining processes

One of the biggest pain points for finance teams is scrambling to consolidate expenses across multiple entities during month-end closing. Our solution introduces automated categorisation of card transactions and real-time expense tracking, dramatically simplifying this process. Expenses from all subsidiaries are automatically sorted into the correct ledgers and cost centres, while smart rules handle VAT codes and tax compliance across different jurisdictions.

For businesses operating across multiple jurisdictions, tracking expenses in real-time has been virtually impossible without manually consolidating expenses from different entities. This lack of accurate visibility leads to overspending and poor decision-making. Fyorin's platform provides both group-wide and detailed per-entity views of all expenses. Finance teams can now track spending trends, optimise cost control, and prevent budget overruns.

The traditional reimbursement process creates friction for both employees and finance teams. With Fyorin's solution, employees get instant access to company funds through virtual and physical cards linked to pre-approved claims with an allocated budget. The system automatically populates expense reports with transaction details, while employees can submit receipts on the go through our web app.

Employees gain real-time access to their expense status through an online portal, showing remaining claim balances and flagging any missing documentation. Finance teams get a comprehensive dashboard highlighting pending claims and missing receipts, minimising time spent identifying incomplete reports.

Managing expenses across different currencies no longer needs to be a headache. Our virtual and physical expense cards in EUR or GBP allow employees to make payments in the desired currency, reducing foreign exchange fees. Real-time FX data ensures your books stay accurate, regardless of where expenses occur.

Say goodbye to multi-tiered approval bottlenecks. Our system introduces pre-approved claims for specific periods and budgets, eliminating the need for multiple approvals per transaction. This transformative approach keeps business operations moving while maintaining full control through customisable spending limits and rules.

Staying compliant with various local tax laws across different jurisdictions is not an easy task. Our system automatically applies the correct VAT, GST, and tax rules based on merchant data and entity settings. Finance teams retain full flexibility while reducing errors and maintaining compliance across borders.

With Fyorin's Expense Management solution, finance teams can easily automate and transform expense management processes, eliminating common bottlenecks such as manual reconciliation, receipt-chasing, and complex multi-entity expense handling. At the same time, employees are empowered with instant access to company funds and automated expense reporting.

See Fyorin’s Expense Management in action and book a demo today!