Relocating yourself or your employees to a new city or country can come with a myriad of challenges and expenses to keep track of. From packing and shipping belongings, to finding and securing a new home and settling into a new environment, the process can quickly become complex. That’s where our expense management services come in. Whether as a standalone service or in combination with our award-winning relocation services, Icon can save you time by managing your relocation expenses for you.
What expenses does relocation involve?
There are dozens of costs associated with relocation. These include transportation costs, temporary accommodation, moving services, storage fees, rental deposits, utilities, furniture, stamp duty and many more. Keeping track of all these expenses manually can be time-consuming and prone to errors. We can save you time and hassle by managing all these payments for you.
What are the benefits of expense management?
Enhanced budget control: relocation often comes with a predetermined budget, whether it’s a personal budget or an allocated corporate budget. Our expense management services collate all expenses in one itemised invoice so you can keep better track of your budgets. This allows you to make better informed decisions and exercise better control over your expenses.
Greater efficiency: managing relocation expenses can be a time-consuming task, especially when dealing with receipts, invoices, and reimbursement claims. We can handle all of this for you, greatly reducing the manual work for you and allowing you to focus more time on other aspects of the relocation process.
Faster payments: there are times when an instant payment is required, including for securing rental properties or serviced accommodation bookings. It is not uncommon for relocators to miss out on perfect properties because the payment cannot be made in time, either due to banking difficulties or internal approval processes. Our expense management solution means we can make an immediate payment on your behalf to ensure you never lose out on a property.
Peace of mind: when pairing our expense management solutions with our relocation services, you can be confident that the entire relocation process, from start to finish, will be managed smoothly and expertly by us.
How can Icon work with you and your assignee to manage expenses?
Expense management was one of the first services we offered when Icon was established 22 years ago. During that time we have streamlined our processes to provide a strong, safe and reactive service to our clients that see’s technology at the forefront of the operation.
Our process is fully automated allowing assignees to upload photos of receipts from their smartphones and send directly to us through our Cosee app or our dedicated expense management system, which mitigates the risk of human error. All receipts are assigned to a dedicated mailbox and processed in our weekly workflow, paying expenses directly back to the assignee or to the client.
We have the capability to track all expenses for every individual assignee – be it medical, moving, travel and more down to the finer details and in the case where the client pays – we can submit a weekly report for each assignee we take care of.
Using our portal, the client can log in and view the expenses for every transaction, for every assignee and track the payment flow.
To enhance the assignee experience we have incorporated cost centres into everything we do allowing the assignee to use this system to easily complete their P11D for HMRC.
Urgent payments? No problem, we offer a very reactive and expedited service allowing urgent and same day payments to take place for your assignee.
In the future, our Cosee app will feed back directly to the individual assignee updating them on their budget and how its being used automatically, allowing them to make informed decisions about their spend at the touch of a button.
Contact us to find out more about our expense management solutions.