SEE Engineering

About

SEE Engineering is a leading provider of comprehensive engineering and project management services, operating as a division of SEE Holding. Their expertise spans various disciplines, including architecture, civil engineering, mechanical engineering, electrical engineering, infrastructure engineering, and computer engineering.

By combining technical excellence with a commitment to sustainability, they deliver high-quality infrastructure solutions that contribute to the development of thriving cities.

The problem

Increased risk of fraud using petty cash

The finance team at SEE Engineering faced significant challenges with its traditional expense management process. The company relied on providing cash advances to employees, which led to several issues:

• Fraudulent Transactions: The use of cash increased the risk of unauthorised spending and fraudulent activities.
• Inefficient Monitoring: Expense tracking was manual and time-consuming, involving the use of spreadsheets and manual reconciliation.‍
• Lack of Control: There was limited visibility into employee spending patterns and difficulty enforcing spending limits.

The solution

Increased control and monitoring of expenses, thereby reducing chances of fraud

Alaan’s corporate cards and the centralised expense management software addressed the main concerns of SEE Engineering. 

1. Reduced Cash Handling: The introduction of corporate cards significantly reduced the need for cash, leading to a 70% decrease in cash handling. This not only minimised the risk of fraudulent transactions but also streamlined the expense management process.

2. Enhanced Cost Monitoring: By consolidating expenses onto a single digital platform, the finance team could better monitor and manage spending across different departments and segments. This granular visibility enabled better financial control and informed decision-making.

3. Improved Spending Discipline: The use of corporate cards helped build greater discipline in spending habits. The team (employees) could easily see where and how much they could spend using the company’s money. 

4. Elimination of Cash Withdrawals: The top-up feature for corporate cards eliminated the need for cash withdrawals, further reducing the risk of fraudulent activities and simplifying the expense management process.

Key Benefit

According to Punit Sejpal, the Group Finance Director of SEE Engineering, one of Alaan's top features is the easy upload and approval of bills. The system uses a maker-checker concept and lets the team assign expenses to specific cost centres and codes, creating a convenient flow for tracking and managing expenses.

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Conclusion

Corporate cards proved to be a valuable solution for SEE Engineering, effectively addressing the challenges associated with traditional expense management. By reducing cash handling, automating processes, and providing enhanced visibility, Alaan helped SEE Engineering improve efficiency, reduce costs, and strengthen internal controls.

Have similar problems while managing your company’s expenses? Explore Alaan. We might have a solution for you!
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