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- Amadeus cytric expands into Chinese market with INEOS Styrolution to bring efficiencies in expense management
INEOS Styrolution chooses cytric Expense for its China & Hong Kong operations to help seamlessly process travel expenses and other work-related purchases
Technological change is nothing new. But last year digital transformation across corporations happened at a pace never seen before. Along with focusing on organizational transformation, businesses have accelerated investment in technologies that reduce manual labor and repetitive human task to the minimum. This automation of business processes helps free professionals to take on more challenging creative tasks that directly impact organizational success.
It’s against this backdrop that INEOS Styrolution has extended its use ofAmadeus cytric Expense for its China and Hong Kong operations. cytric Expense will enable a better user experience and improved processes for INEOS Styrolution employees when it comes to claiming and processing expenses in these fast-growing markets. It will also bring meaningful cost savings and added efficiencies across its various entities in China.
With more than 3,600 employees and manufacturing sites in 10 countries, the German-headquartered INEOS Styrolution is the leading global styrenics supplier across various industries, including automotive, electronics, household, construction, healthcare, packaging, toys, sports and leisure. The company has been using cytric Travel & Expense to manage travel and expenses in key markets like India, Singapore, South Korea and Thailand.
YongKap Lee, Head of Reporting & Accounting Asia, INEOS Styrolution, said “Deploying cytric Expense across China and Hong Kong operations will help our finance employees move from a mix of manual expense processing and using different in-house tools in different markets to one platform that is uniform across the region. As a tried and tested solution, it will not only help reduce manual workloads but also decrease the time needed to work on processing expenses.”
Arlene Coyle, Senior VP Commercial, Corporations, Amadeus, said, “It is a pleasure to be working even more closely with INEOS Styrolution as we expand with them into new markets. Our breakthrough into China provides advanced expense solutions to help companies ignite growth and innovation. In the current climate, corporate customers in China will be able to experience our unique cytric Expense solution, which helps corporations retain control and visibility over their spending across the entire expense process.”
The tool will provide an improved user experience and integration with existing systems. It will allow travelers or travel arrangers to upload invoices and receipts and easily submit their expense claims, whether travel or non-travel related, using an easy-to-use interface that will guide them through the process. Approvers will be able to check and validate expense claims against corporate policies using the same portal or reject if a correction needs to be made. Auditors and accountants will be more efficient and effective, verifying receipts and exporting expense files into the accounting, HR or Payroll systems.
The rollout of the cytric Expense tool will lead to improved reporting as all of it can be done from the same system which gives INEOS Styrolution a clearer vision of expenditure. Ultimately, one single platform and database helps to make sure that data will inherently be accurate and standardized.
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