Traveling Today, Reimbursed Tomorrow

January 1998
Financial Executive;Jan/Feb1998, Vol. 14 Issue 1, p11
Academic Journal
The article discusses the operations of the Stanley Works Immediate Funds Transfer (SWIFT), an innovative funds transfer system that reimburses employee's expenses in 24 hours. According to Stanley Works, SWIFT has not only reduced employee expense turnaround time, it has also saved the company about $150,000 dollars annually. The system works with the company's existing technologies, so Stanley Works didn't have to buy or train employees on new software. Currently, about 80 percent of their employees in the U.S. to file expenses electronically.


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