The all-in-one human resources (HR) platform "Flex" announced on the 6th that it has launched an "expense management" service. As it is based on the HR platform, it features the capability to organically connect existing organization and member information with time zone and amount-related expense information, making it manageable all at once.
Starting with the newly launched expense management service, Flex plans to expand its business scope into the finance sector in conjunction with HR.
Founded in 2019, Flex has attracted a total of 49.5 billion won in cumulative investments and is noted for its integrated functions within the HR industry.
Recognizing that many client companies utilize its simple electronic approval (workflow) function for expenditure purposes through its own big data analysis, Flex embarked on the development of this service.
The company identified various inefficiency factors, including the complex processes associated with managing multiple fragmented expense management tools, the resource waste from simple repetitive tasks like preparing expenditure resolutions, and the significant time spent reviewing the legitimacy of expenses. It aims to focus primarily on automating and streamlining these processes.
Members can easily submit expenses incurred through any means, including corporate cards, tax invoices, and cash receipts, to the administrator for approval.
Financial managers can flexibly set various expense policies and conditions based on organization and member information. If an expense occurs that does not comply with the policy, an immediate warning message can be sent to the member and administrator to prevent misuse.
The expense management service can be applied for a one-week free trial on the Flex website.
Jang Haenam, CEO of Flex, noted, "By organically linking the data of HR and finance that have been operated in segments, we can maximize the work efficiency of members and derive multifaceted insights from a management perspective."