The starting point
BMI is the leading manufacturer and marketer of products and solutions for flat and pitched roofs in Europe. The company has customers all over the world and is also part of a multinational, so corporate and representative trips are constant.
In Spain, more than 50 employees travel frequently for business purposes. The management of representation expenses is manual. On a monthly basis, each corporate traveller has to make the settlement and attach all the receipts corresponding to the expenses. In turn, the human resources team reviews these statements one by one. Finally, the documentation is sent to the accounting department, which manages the payment part.
In addition to the time spent on a task with little added value for the company, the manual management of representation expenses can lead to errors and disputes that need to be resolved. There is also excessive use of paper.
Finally, the finance department identifies that it is practically impossible to obtain an invoice for each representation expense in order to be able to recover VAT, as allowed by law.
As part of a global digitisation strategy, BMI Spain decided to digitise and automate the management of corporate expenses and VAT recovery. To do so, they have the support of two technological tools.
On the one hand, they use the Concur expense management tool to digitise the management of representation expenses. Using an app, the employees photograph the receipts and digitally prepare the statements. On the other hand, they contact DevoluIVA for automatic VAT recovery.
With more than 100,000 shops affiliated to its network, DevoluIVA is able to issue invoices for all representation expenses automatically and integrate them into the company’s ERP ready to complete the Suministro Inmediato de Información (SII). Moreover, the VAT recovery with DevoluIVA is a process that is always in progress: every month DevoluIVA checks retrospectively if there are expenses in the new shops of the network, which is growing day by day, and issues the corresponding invoice.
“The DevoluIVA service is fast, simple and automatic. The intervention of employees is almost unnecessary and errors are avoided”, explains Fernando Del Castillo, Financial Director Spain and Portugal at BMI Group.
Over the last year, DevoluIVA has been able to issue more than 7000 electronic invoices corresponding to BMI Spain’s corporate expenses to recover the VAT on these expenses.
Thanks to a 100% digitised and automated corporate expense management and VAT recovery process, BMI Spain’s teams have gained in efficiency, time savings and speed.
Specifically, corporate travellers save more than 2 hours per month in the management of representation expenses. In the administrative team, the person in charge of reviewing these expenses can now spend more than half of their time on other more value-added tasks.
In addition, the digitisation and automation of this process has contributed to a drastic reduction in the use of paper and, consequently, to improving the sustainability of BMI Spain as a company. “In BMI’s struggle to reduce its carbon footprint and digitise processes, DevoluIva has been a great ally,” says Fernando del
DevoluIva and BMI Spain are now working on implementing the VAT recovery of international representation expenses in order to continue contributing to the company’s efficiency and savings.
per corporate traveller.