Introducing: Relocation Expense Management

HR teams often spend a lot of precious time on managing relocation expenses, and relocating employees often need to go through a lot of back and forth communication in order to get their expenses reimbursed. 

Settly’s new Relocation Expense Management functionality takes away the hassle of having to manage relocation cost reimbursement inhouse and manually!

Read on to understand the feature's details, how it will benefit you, how it stands out from traditional relocation expense management methods, and a glimpse into its mechanics. 

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Understanding Relocation Expense Management

To put it simply, Expense Manager is a new, integrated solution in the Settly web platform that allows HR and Global Mobility teams to overview all the expenses incurred by an employee relocating. 

It simultaneously empowers employees with the tools to upload, manage, and monitor their own expenses, ensuring a streamlined and efficient reimbursement process for all involved. 

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Relocation Expense Management Challenges 

Let's dive into the distinctive challenges faced by both employers and relocating employees when it comes to expense management. 

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How does this process look from the HR Team managing an employee’s relocation? Let’s take a look.

Coordinating new employee’s moves is critical for the HR team, especially ensuring that they have a positive transition. As they collaborate with Settly to manage the major logistics, some additional expenses, not directly covered under Settly's relocation services, arise from time to time. 

Without Settly’s Relocation Expense Management functionality, the HR team is swamped with receipts, coordinating with finance teams, and chasing approvals.

Compared to traditional relocation solutions where expense management is a very manual process, Settly’s Relocation Expense Management is an automated workflow with approval and payment status tracking functionality for both the employee and the employer. 

Employers can easily see employee expenses and track costs more easily using this functionality.

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‍Let’s meet Jacob! 

Jacob's gearing up to relocate for his job from Dubai to Amsterdam. There are a few expenses that pop up that are included in his company's relocation policy but aren’t part of our services, such as flight tickets, the taxi ride to his hotel once he lands, and some basic items for his stay. 

Without this feature, Jacob would have to manage these receipts manually, and would have to follow up via email if he wanted to know the status of his expense reimbursement requests. 

With Settly, submitting expenses is a matter of a few clicks, and Jacob will have an easy overview of the status of his reimbursement requests at all times!

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‍Want to save time on managing employee relocation expenses?

How Relocation Expense Management Works

The Employer’s Perspective

Log into Settly and head to the relocation expense management overview section under “Expenses” in the left-hand menu. Here, you can see an overview of expenses submitted by each employee relocating without any manual interventions.

What are the benefits for you? 

You can gain insights into relocation expenses connected to every employee being relocated, without the hands-on work, ensuring transparency and compliance with your company’s policies in place. 

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The Relocating Employee’s Perspective

Navigate to your expenses tab by clicking on “Expenses” in the left-hand menu in the platform. Upload your amounts and receipts, manage your currency conversions, and track your reimbursements in real-time.

‍One clear view for all your relocation expenses

You’ve got your hands on a user-friendly interface that provides clarity on all your relocation-related expenses and reimbursement statuses. Plus, our dedicated hosts are available to answer any queries you may have, ensuring a smooth relocation experience!

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Easy Relocation Expense Management for Peace of Mind

Remember Jacob? After relocating to Amsterdam, thanks to the Expense Manager feature, he can now swiftly log each of the expenses incurred such as the flight, the taxi fare, and his immediate hotel necessities. Everything's organized, with an easy overview of reimbursement request status for peace of mind. Jacob can focus on settling in, while all his costs are easily tracked and managed. 

As for the HR teams behind his relocation, it allowed them to track all associated expenses in real-time, saving a lot of time usually spent on alignment and ensuring nothing slipped through the cracks. It not only gave them peace of mind, but also reinforced their commitment to providing their employees with a streamlined and efficient relocation experience.

You will no longer have to worry about collecting receipts or manually tracking costs as Settly will automate this for you. And your talent won't have to play the waiting game on reimbursement statuses. Everything you need is neatly tucked within the app.

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Get in Touch

Let's make relocations smoother, together. If you’re interested in offering the Relocation Expense Management add-on to support your employees or would like to explore how Settly can help make employee relocation a smooth and exciting experience for your team, get in touch with us here.