Summer Internship Project - PGFB1622

Summer Internship Project Report
Expense Management Automation and Integration (Happay

Card) at India Shelter Finance Corporation Ltd.
Submitted in partial fulfilment of the requirements for the award of

Post Graduate Diploma in Management
Submitted By
Kashish Varshney
PGFB1622
(2016-18)
Under the Supervision of

Ms. Mukti Chaplot
Submitted To
Prof. Ajay Bansal
JAIPURIA INSTITUTE OF MANAGEMENT, NOIDA

A-32 A, Sector 62, Institutional Area, Noida - 201309 (U.P.)
Kashish Varshney / PGFB1622 / JIM-Noida
DECLARATION
I hereby declare that the project entitled Expense Management Automation and Integration (Happay
Card) submitted in partial fulfilment of the requirements of Summer Internship Program for the award
of degree of PGDM at Jaipuria Institute of Management, Noida is an authentic work and to the best of
my knowledge the project has not been submitted to any other University/Institute for any
Degree/Diploma
Kashish Varshney
PGFB1622
PGDM (G) 2016-18
Date:
Expense Management Automation and Integration (Happay Card)
Page 1
ACKNOWLEDGEMENT
Guidance, help and encouragement are the essential requirements for successful completion of
project.
I own my gratitude to all those who have helped me in the preparation of this project report.
I express my deepest gratitude any heartily respect to my Industry Mentor, Ms. Mukti Chaplot (CS,
India Shelter Finance Corporation Ltd.) and Mr. Rahul Gupta (CA, India Shelter Finance Corporation
Ltd.) for their valuable guidance, whole hearted cooperation and useful suggestions and help in
completion of this project.
I would like to extend my sincere thanks to my faculty mentor Prof. Ajay Bansal (Associate Professor,
Jaipuria, Noida) for giving me this opportunity and for his constant support throughout my summer
internship project.
I feel obliged to all the respondents, friends and other who have shared their valuable time and opinion,
for making significant contribution directly or indirectly in the project.
Kashish Varshney
(PGFB1622)
PGDM(G) 2016-18
Jaipuria Institute of Management, Noida
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Contents
EXECUTIVE SUMMARY ............................................................................................................................... 5
CHAPTER 1: INDSUTRY AND COMPANY DESCRIPTION ................................................................... 7
1.1 OVERVIEW OF FINANCIAL SERVICE INDUSTRY: .................................................................. 7
1.1.1 HOUSING FINANCE SECTOR.................................................................................................................... 8
1.1.2 STRUCTURE OF HOUSING FINANCE:....................................................................................................... 9
1.1.3 CURRENT SCENARIO ............................................................................................................................. 10
1.2 INTRODUCTION ..................................................................................................................................... 11
1.2.1 VISION................................................................................................................................................... 11
1.2.2 MISSION................................................................................................................................................ 11
1.2.3 KEY INFORRMATION ............................................................................................................................. 12
1.2.4 INTRODUCTION TO INDIA SHELTER FINANCE CORPORATION LIMITED ............................................... 13
1.2.5 ORGANIZATION STRUCTURE ................................................................................................................ 14
1.2.6 WHY INDIA SHELTER? ........................................................................................................................... 15
1.2.7 PRODUCTS ............................................................................................................................................ 15
1.2.7.1 HOME LOANS ............................................................................................................................ 16
1.2.7.2 LOAN AGAINST PROPERTY ................................................................................................. 19
1.2.8 SWOT ANALYSIS OF INDIA SHELTER FINANCE CORPORATION LIMITED .............................................. 21
CHAPTER 2: INTRODUCTION TO EXPENSE MANAGEMENT AND AUTOMATION THROUGH
HAPPAY .......................................................................................................................................................... 23
2.1 EXPENSE MANAGEMENT ................................................................................................................... 23
2.1.1 EXPENSE MANAGEMENT PROCESS ...................................................................................................... 23
2.1.2 TYPES OF EMPLOYEES EXPENSES.......................................................................................................... 24
2.1.3 REASONS WHY MANUAL EXPENSE MANAGEMENT IS CRUCIAL .......................................................... 25
2.1.4 REASONS WHY MANUAL EXPENSE MANAGEMENT SHOULD BE REPLACED WITH AUTOMAMTED
SYSTEM .......................................................................................................................................................... 26
2.2 EXPENSE MANAGEMENT AUTOMATION AND INTEGRATION (HAPPAY CARD) .............. 27
2.2.1 INTRODUCTION TO HAPPAY ................................................................................................................. 27
CHAPTER 3: JOB DESCRIPTION .............................................................................................................. 39
CHAPTER 4: ANALYSIS OF JOB DONE .................................................................................................. 43
CHAPTER 5: LEARNING OUTCOMES .................................................................................................... 54
CHAPTER 6: CONCLUSION AND RELEVANCE OF SUGGESTIONS ............................................... 57
6.1 CONCLUSION .......................................................................................................................................... 57
6.2 RELEVANCE OF SUGGESTIONS ........................................................................................................ 58
REFERENCES ................................................................................................................................................ 59
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TABLE OF FIGURES
Figure 1 Credit Growth at NBFC over the years ................................................................................... 8
Figure 2 Structure of Housing Finance .................................................................................................. 9
Figure 3 Organization Structure of India Shelter ................................................................................. 14
Figure 4: Products offered by India Shelter ......................................................................................... 15
Figure 5: SWOT Analysis of India Shelter .......................................................................................... 21
Figure 6: Process of Expense Management ......................................................................................... 23
Figure 7: Features of Happay ............................................................................................................... 31
Figure 8: Organization Structure crested by Happay ........................................................................... 34
Figure 9: Process of Automate Expense Management ........................................................................ 45
Figure 10: Registration of Managers ................................................................................................... 45
Figure 11: Registration of Employees Figure ...................................................................................... 46
Figure 12: Employees having Happay Card as per their Designation ................................................. 47
Figure 13: Graph showing increment of Happay users ....................................................................... 48
Figure 14: Loading Money into Happay Account ............................................................................... 50
Figure 15: Loading Money into Happay Account ............................................................................... 51
Figure 16: Setting of limit on Employees' Happay card ...................................................................... 52
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EXECUTIVE SUMMARY
The topic of my project is Expense Management Automation and Integration (Happay Card)
The purpose of this project is to act as a tool to understand the working processes of the expense
management and understanding how various expenses and payments takes place through an automated
software. The aim of this project is to understand how an automated software has been integrated by
India Shelter Finance Corporation Limited to manage its employees expenses like admin expenses,
travelling expenses of loan officers and vendor payments. The automated software integrated by the
company is called Happay.
Happay is a simple and intuitive expense management solution empowers employees to spend and
report expenses digitally while helping company administrators manage all expenses online, this
means less paperwork, less wasted time and happier people. It helps in tracking all employee spending
in one place and sync data easily with companys accounting software, processing multiple vendor
payments at frequent intervals over a month and ensures 100% policy compliance.
The project consists of the various stages of the integration of Happay by India Shelter. Expense
Management is a complex process that, when manually managed, is fraught with extraordinary
compliance risk. For past many years, recording, managing and evaluating expenses were done
manually, with spreadsheets, paper receipts and printed expense reports, but now with the growing
scope of digitization, it has given rise to need of having an automated software to record, track, analyse
the expenses quickly and effortlessly. Automation is a flexible and cost-effective alternative to
traditional and manual expense reporting.
This project shows the scope of Happay in managing the expenses by the finance department of the
company and is regularly integrating this software in to their existing system like ERP (Enterprise
Resource Planning) and other accounting software.
Currently, it is in the introduction stage and the company is still working on this software to fully
automate its expense management by end of this year and is regularly increasing the Active Happay
Users, Vendors for the hassle free payments and keeping control on the spending limits of the
employees.
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CHAPTER 1: INDSUTRY AND COMPANY

DESCRIPTION
Page 6
CHAPTER 1: INDSUTRY AND COMPANY DESCRIPTION
1.1 OVERVIEW OF FINANCIAL SERVICE INDUSTRY:

The financial services industry plays an important role in the world economy. It provide funds to
those entities who needs fund from those who have funds. India has a diversified financial sector
undergoing rapid expansion, both in terms of strong growth of existing financial services firms
and new entities entering the market. The financial service sector includes commercial banks,
insurance companies, non-banking financial companies (NBFCs), co-operative banks, pension
funds, mutual funds and other smaller financial entities. Financial services is the lifeblood of
economic growth and development. They facilitate the setting up of big and small businesses and
the expansion of businesses. The financial services industry is among the largest-earning sector in
the world. The financial services sector in India, which reports for 6 percent of the nations GDP,
is growing rapidly.
Financial services provided by NBFC constitute a major proportion in this growth. Non-Banking
Financial Companies or NBFCs in India are registered companies conducting business activities
similar to regular banks. NBFC provide loans, purchase stocks and debentures, and offer leasing,
hire purchase, and insurance services. NBFCs cant accept demand deposits, issue cheques and
the deposits are not insured by DICGC (Deposit Insurance and Credit Guarantee Corporation).
NBFCs are regulated by either Reserve bank of India and Securities and Exchange Board of India
or both.
NBFCs are broadly classified into two categories based on whether they accept public deposits,
i.e. NBFC-Deposit taking (NBFC-D) and NBFCs-Non-Deposit taking (NBFC-ND). NBFCs
contribution to the economy has grown substantially from 8.4% in 2006 to more than 15.7% in
March 2017. In terms of financial assets, NBFCs have registered a strong growth, i.e. a compound
annual growth rate (CAGR) of 19% over the past few years, consisting of 13% of the total credit
and estimated to reach nearly 18% by 2018-19. NBFCs success can be clearly attributed to their
superior product lines, lower cost, broader and effective reach, risk management capabilities to
check and control bad debts, and proper preference of their customer segments. Not only they have
achieved success in the passenger and commercial vehicle finance but they have also managed to
strengthen assets under management (AUM) in the personal loan and housing finance sector.
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The credit appraisal systems of NBFC is reasonably well, that NBFCs has able to transfer the benefits
in meeting the non-corporate needs of the economy, including SMEs (Small and Medium Enterprises)
and retail customers. Other than the growth in SME financing, strong penetration for housing has
driven double-digit growth, Indias housing finance segment has continued to display huge potential
for growth, and HFCs (Housing Finance Companies) with 40 percent of the share are clearly leading
the way.
Figure 1 Credit Growth at NBFC over the years
1.1.1 HOUSING FINANCE SECTOR
In last few years, the housing sector has emerged as one of the sectors attracting a large quantum of
finance. Development of housing in a country is a sign of economic welfare. The Home loan sector in
India is the pi-vital role player in the growth of the real estate scenario in India. In the current economy
of India, the real estate sector has the maximum capacity to generate income and demand for materials,
equipment and services. Home loans are made available by financial institutions to both Indian and
NRI customers at floating and fixed rate of interest and also at attractive EMI (Equated Monthly
Instalment) options.
For construction or buying a new home

For home repairs and renovations
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For purchase of plots

Against mortgage of property
The Indian housing industry has shown strong growth over the past few years. Moreover, with rising
purchasing power, continuously rising population, growing aspirations, increasing nuclear families,
rapid urbanization, governments intervention to provide easy loans, and so on, the housing sector in
India is anticipated to register a strong growth in the coming years.
1.1.2 STRUCTURE OF HOUSING FINANCE:
Figure 2 Structure of Housing Finance
India Shelter Finance Corporation Limited is registered in the list of Housing Finance
Companies (Not valid for acceptance of public deposits) under section 29A of the National
Housing Bank Act, 1987.
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1.1.3 CURRENT SCENARIO
The announcement made by Government has given further momentum to the transformation of the
sector and is a great step to empower people to invest in their dream homes. Government has invested
in schemes like Pradhan Mantri Awas Yojna (PMAY) of Rs. 23,000 Crore and the total allocation for
the infrastructure sector in the Budget stood at Rs 39,6135 crore in 2017-18 which would provide to
achieve Housing for all objective. This would enable small business owners and the middle class
salaried customer to make better progress in their business and take step towards moving in their own
house.
The RBIs decision to increase loan-to-value (LTV) ratio will also enable housing finance companies
to lend more to lower middle income customers.
Overall, the sector outlook remains positive, with several positive supply side initiatives underway
through Pradhan Mantri Awaas Yojna, by building 22 crore houses for urban to enhance transparency
and boost confidence of buyers.
Housing Finance Companies in India

At present, there are more than 40 Housing Finance Companies and 27 Public Sector Commercial
Banks. The housing finance companies market is dominated by large players:
HDFC
LIC Housing Finance Limited
PNB Housing Finance
Dewan Housing Finance Limited
Sundram Home Finance
GRUH Finance Limited
Indiabulls
Sahara Housing
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1.2 INTRODUCTION
INDIA SHELTER FINANCE CORPORATION LIMITED
1.2.1 VISION
To build a profitable and socially useful business by fulfilling the housing credit needs of Low and
Middle Income families and to increase housing stock and improve health and education outcomes
for these families.
1.2.2 MISSION
To provide simple and fast Home loans to every Indian Low and middle income household for
acquiring new housing or to extend and improve their current housing by proactive door step
service.
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1.2.3 KEY INFORRMATION
Setup Date 26th October, 1998
Incorporation Date 12th March 2010
CEO/MD Mr. Anil Mehta
CFO and Head of Operations Mr. Sunil Jain
Head of Credit Soumen Jourdar
Head of Distribution Vikram Chopra
Head Technical Varun Guliani
Head of Human Resources Devraj Dutta
Investors Sequoia Capital, Nexus

Venture Partners, Westbridge
Capital
Other Details:
Industry Finance
Type Company Public
Size 201 to 500 Employees
Revenue 100 to 500 million (INR)

per year
Website www.indiashelter.in
Headquarters Gurgaon, Haryana
Competitors Gruh Finance, Shubham

Housing
Page 12
1.2.4 INTRODUCTION TO INDIA SHELTER FINANCE CORPORATION

LIMITED
India Shelter Finance Corporation Limited (Formerly known as Satyaprakash Housing Finance India
Limited) is a public company founded in 2010, registered under National Housing Bank (NHB). The
company size is of 500-1000 employees. India Shelter is a Housing Finance Company, engaged in
providing home loans and Loans against property to low income borrowers for a period of up to 20
years.
India Shelter is operating in, 54 branches of 52 cities of 9 states and the head office is in Gurgaon. The
company has branches in areas of Rajasthan, Chhattisgarh, Maharashtra, Madhya Pradesh, Delhi,
Gujarat, Odisha, Uttar Pradesh and Uttarakhand etc.
India Shelter provide loans up to Rs. 20 lakhs to urban borrowers for up to 20 years and aspire to fulfil
the progressively increasing need of first generation urban families that need help in accessing housing
credit.
India Shelter Finance Corporation aims to empower middle-income households with credit to acquire
new homes or to extend and improve their current homes. So far, India Shelter have helped over 16000
families by disbursing over Rs. 600+ crores in loans!
These loans can be used by low income borrowers for home improvements, home extension and for
construction of dwelling units on plots owned by borrowers. The company had a loan portfolio of Rs.
451 crores as on June 30, 2016.
Sequoia Capital invested in the company to meet the requirements of its first phase of growth. Later
Sequoia Capital, Nexus Venture Partners and Westbridge infused more capital in the company to help
accelerate growth.
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1.2.5 ORGANIZATION STRUCTURE
Board of
Directors
Head of Head of Head of Head of

Human Operations/ Head of IT
Credit Distribution
Resources Finance
Sales &
HR Finance Credit Distribution IT Manager
Manager Manager Manager Manager
Finance Credit Team Sales & IT Team

HR Team Team Distribution
Team
Figure 3 Organization Structure of India Shelter
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1.2.6 WHY INDIA SHELTER?
The main objective of India Shelter is to provide credit to middle income

households to acquire new housing or to extend and improve
their current housing.
Customer Orientation
3-25 Lakh Loan
Easy Documentation
Loan without proof of income document
No DSA or Agent
One - Window Clearance
SMS and voice call updates facility about status of loan
Speedy Approvals
All Day Customer Support
1.2.7 PRODUCTS
Home Loan
Loan New Home
Against
Purchase Property
Improvement and
Extension
Home Construction
Figure 4: Products offered by India Shelter
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1.2.7.1 HOME LOANS

India Shelter provide home loans amount up to 20 lacs to the urban households for construction,
extension, renovation and purchase of new home.
India Shelter Finance Corporation Home Loan Interest Rates as on 30th June
2017:
India Shelter aims to provide the best for its housing loan customers and the same goes for the rate of
interest offered on the housing loans. The bank offers both fixed and floating rates of interest on its
housing loan options. The current rate of interest proposed on the housing loan is 11.75% for both men
and women customers.
Home Loan Tenure Rate of Processing Fee Rate Type

Amount Interest
3 Lakhs to 20 20 Years 11.75% to 22% 2%-3% Fixed
Lakhs
Loan Purpose
Purchase of property
Plot purchase
Self-construction
Adding additional rooms
Put up an additional floor to an existing home
Internal or external repairs to existing homes
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Eligibility for an India Shelter Finance Home Loan

If you are: 0104
At least 18 years old
Less than 70 years old
Salaried / Self-employed with regular income
Earn more than the minimum income required
India Shelter Finance Home Loan amount eligibility is based on following

factors:
EMI limited to about 50% of monthly income
Loan capped @70% of the cost of property
EMIs of other loans lower your eligibility
On the contrary, you can increase your eligibility for India Shelter Finance Home
Loan amount by these steps:
Make your spouse a co-applicant, and her income will be added to your eligibility
Apply for longer tenure loan i.e. from 5 year to 20 years
Alternatively add your parents
Documentation needed to apply for an India Shelter Finance Home Loan:

Signed application form with photograph
ID and residence proof
- Identity Proof- PAN Card, Voters ID, DL, Bank Passbook, etc.
- Proof of Age- Any of the documents mentioned above or Birth certificate, 10th or 12th
Pass certificate, etc.
Approved Building Plan
Last 3 months Bank Statements
Documentation for salaried applicants:
- Last 3 months salary-slips
- Form 16 or Income Tax Returns
Documentation for self-employed applicants:
- Last 2 years Income Tax Returns
- Last 2 years CA Certified Profit & Loss Account
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Feature and Benefits of India Shelter Home Loan:

The following are the advantages of India Shelter Finance Home Loan.
1. Loan amounts ranging from Rs.3, 00,000 to Rs.25, 00,000 lakhs.

2. Fixed rate of interest that ensures that monthly EMIs are a steady, predictable number.
3. Maximum repayment tenure of up to 15 years.
4. Loans are also offered to households that cannot produce any income proof.
5. Easy documentation, zero red tape and loan approval within 7 days.
6. No pre-payment charges if the borrower closes the account from his/her own source of funds.
7. Minimal processing fee of 3.0% inclusive of service tax.
8. Robust tele customer support, in both Hindi and English.
9. Direct-to-Home service is available and administered in the applicants local language.
10. Home loan can be availed for the following purposes- a) Purchasing property including plots and/or
completed houses, b) Construction of house, c) Extension of house including addition of rooms,
floors, etc., d) Internal or external repairs to existing house.
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1.2.7.2 LOAN AGAINST PROPERTY

India Shelter extends loans amounts up to 10 lacs to urban households with monthly incomes
(documented or undocumented) and more.
Loan purpose:
Business
Personal
India Shelter Finance Corporation Loan against Property Interest Rates as on

30th June 2017:
Home Loan Tenure Rate of Processing Fee Rate Type
Amount Interest
Maximum 10 10 Years 20% 4% Fixed
Lakhs
Documentation needed to apply for an India Shelter Finance Loan against

Property:
Application form with photograph duly signed by all applicants
Identity proof Voter ID, PAN, Driving License, Bank Passbook, etc.
Age proof Voter Id, PAN, Driving Licence, Passport, Birth certificate, pass certificate of 10th
or 12th
Property documents
Coloured passport size photograph
Last 3 months salary slips
Income Tax Returns of the last 2 years or Business Records
LIC Policy
FD or RD
Details of any other loan account that you are replaying currently
Any other savings or investment details
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Feature and Benefits of India Shelter Loan against Property:
Easy 10-years repayment option available

Loan amount offered is between Rs 300,000 Rs10, 00,000.
Loan Approval within 7 days
Easy monthly repayment schedule
Loans are also available to households that do not have any income proof
We provide direct-to-home service in local language
Assistance on phone available at local call rates in Hindi and English
Our loans are available at a fixed rates. That means that the EMIs dont vary with The volatility
in the market or a change in the interest rates
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1.2.8 SWOT ANALYSIS OF INDIA SHELTER FINANCE CORPORATION

LIMITED
Easy Process and Lack of competetive

Disbursement strategy
Loan without High rates
Income Disclosure (compared to banks)
Home Service
Fixed Interest rate
irrespective of
market volatility
Strength Weakness
Opportunity Threat
Untapped Rural
Market
Can provide e-loans Many players in the
market
Figure 5: SWOT Analysis of India Shelter
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CHAPTER 2: INTRODUCTION TO EXPENSE

MANAGEMENT AND AUTOMATION
THROUGH HAPPAY
Page 22
CHAPTER 2: INTRODUCTION TO EXPENSE MANAGEMENT AND

AUTOMATION THROUGH HAPPAY
2.1 EXPENSE MANAGEMENT

Expense management is the technique and procedure followed by a business to process, pay, and audit
employee-expenses. These spending and costs include expenses incurred for travel, food and
entertainment etc. Expense management includes the policies and procedures which govern such
spending, as well as the technologies and services utilized to process and analyse the data associated
with it.
2.1.1 EXPENSE MANAGEMENT PROCESS
An expense management process helps companies to monitor what they are spending on employee
expenses. This process is used to create and understand records for expense claims, to make sure
that appropriate permission has been sought for all claims, and to make certain that all expense
payments are able to be audited. This process is initiated by accounting team for processing expenses
after receiving an expenses request.
Figure 6: Process of Expense Management
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2.1.2 TYPES OF EMPLOYEES EXPENSES
Travel: Sales people are the ones who travel the most owing to the nature of their work.
While some organizations have travel desks that books tickets for the employees, in most other
places, employees book their own tickets and get reimbursed later. Intra-city travel generates
bills for cabs and buses, which are usually reimbursed to the employee.
Food: Meals while out on the field are usually counted as business expenses and this include
meeting important clients over lunch or drinks.
Accommodation: Outstation travels require a safe, secure and reliable accommodation for
the employees. Most well established companies choose to host their employees in their local
guest houses at prominent cities, while most other opt for hotels within the company budgets.
The bookings can happen via the travel desks or from employees personal accounts.
Fuel: Marketing and sales teams have work to be done within their city itself. Company cabs
ferrying their employees is slowly gaining popularity, but majority of the organizations still
rely on employees personal vehicles. The money for the fuel used on these rides is usually
reimbursed at the end of every expense cycle.
AdHoc: Ad-hoc expenses can range anywhere from buying a water bottle on a field trip to
spending on a stack of paper for photocopies of documents. With appropriate bills in place,
employees will get reimbursed for the same at the end of the companys expense cycle.
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2.1.3 REASONS WHY MANUAL EXPENSE MANAGEMENT IS CRUCIAL
1. Manual expense management = Loss of Time + Money:

Managing expenses manually, with spreadsheets, paper receipts and printed expense reports,
consumes more time and money leading to inconsistencies and frequent fraudulent practices.
2. Manual expense management = 30-45 day delayed spend visibility:

Manual expense reporting deals with spreadsheets, late submitted paper receipts and lengthy
approval processes; which hinders the real-time and end-to-end visibility of expenses. Thus,
drawing insights from financial data becomes difficult with different information of cash-inflow
and cash-outflow.
3. Manual expense management = risk of fraud + errors:
Manual processes are prone to fraudulent practices and risk of errors in entering data, like
unreasonable costs, rounding up mileage, etc.
4. Manual expense management = poor policy compliance:
Threat of non-compliance due to manual practices can result serious cash leakage for your
company. The challenges are harder for a business working in various geographic locations and
multiple countries.
The problem with Business Expense Management

Expense incurred by 5-6 different teams, each with a different submission cycles.
Expenses are filed manually in vouchers or spreadsheets.
Approvals are slow and involve multiple follow-ups.
Finance Department over-loaded with paper work.
No centralized visibility and control for management.
Different platforms used for payment and reimbursement.
Collecting receipts is messy.
Tracking of expenses and employee spending is tricky.
Keeping record of transactions is a difficult task.
Assessing who, when and how the money is being used takes a lot of time.
Control over expenses and reconciliation was not easy to manage.
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2.1.4 REASONS WHY MANUAL EXPENSE MANAGEMENT SHOULD BE

REPLACED WITH AUTOMAMTED SYSTEM
An automated system facilitates coding, approving, and reporting expenses much more
speedily and efficiently than the traditional method. Cost of processing expense reports reduces
by around 78 % per transaction through automation.
With automated processes, the expenses are easily integrated with other business processes like
accounting etc. in real time. This amalgamation leads to end-to-end visibility of business
processes thereby helping in managing budgets and controlling spending.
Automated expense management makes sure that fair and consistent rules are applied to all
departments and employees by refraining them from entering wrong data or out of policy
claims through customized or pre-populated fields. Thus, time is saved through automated
consistency checks and fair practices across expense management processes.
Automating the processes enables accuracy, easy auditing and quick changes to policies based
on legislative changes.
Automated expense reporting system enables lower processing costs, faster reimbursement
times, enhanced travel policy enforcement and increased visibility. Thus, automation is a
flexible, scalable, and cost-effective alternative to traditional and manual expense reporting.
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2.2 EXPENSE MANAGEMENT AUTOMATION AND INTEGRATION

(HAPPAY CARD)
More than 3000 businesses use Happay to manage their business expenses like Emami Limited, EROS,
Aditya Birla Group, Dharma Productions, Kajaria, Urban Ladder, etc. India Shelter Finance
Corporation Ltd. is among these business houses that uses Happay for the companys expense
management whether it is the payment to its vendors or reimbursements of employees.
It was launched in India for the first time on September 21, 2016 by a Bangalore based start-up, Happay
The USP of Happay is being that it can be completely controlled using the web or mobile interface.
The main objective of using the Happay in the companys management system is to bring a change in
the way expenses were managed and controlled by the India Shelter Finance Corporation Ltd.
2.2.1 INTRODUCTION TO HAPPAY
WHAT IS HAPPAY?
Happay is the quickest and easiest-to-use expense reporting tool there is.
We all know how frustrating it gets and how long process it is to create expense reports, be it
remembering to record all expenses of employees, attaching multiple paper receipts and bills, spending
long hours lling data in spreadsheets and nally, ling reports for approval.
Happay makes expense reporting eortless. All you have to do is spend on the happay card and we
take care of the rest.
Dont waste time ling expenses. Give more time to tasks that matter.
What do you get when your company signs you up for happay?
1. HAPPAY VISA CARD

2. HAPPAY MOBILE APP
3. HAPPAY WEB DASHBOARD
4. HAPPAY MASTER CARD
Page 27
1. HAPPAY VISA CARD

Happay Visa card is a corporate card funded by the company. It works like any other Visa
Debit or Credit card. Use the Happay card-
At any online or in-store Visa merchant
At ATMs to withdraw money
2. HAPPAY MOBILE APP

The Happay mobile app allows you to report expenses no matter where you are. Record
expenses, snap photos of receipts and submit expense reports, on-the-go, and right from your
Android phone or iPhone.
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3. HAPPAY WEB DASHBOARD

The happay dashboard is a streamlined online platform that enables your company to fund,
control and manage all happay cards, as well as get a 360 degree view of all
business expenses, in one place. You dont need to download additional software for
using the happay dashboard. Being a cloud computing-based platform, you can access it
anytime, anywhere, from any computer or mobile device. Every task on the happay mobile
app can be alternatively done through your happay web dashboard - check balance, add
expenses, and generate expense reports online, anytime.
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4. HAPPAY CARD
Card is a Digital Business Expense Card, i.e. a prepaid card, designed to track, monitor and
control spends and conversions on daily, weekly and monthly basis. The new card is
exclusively designed to suit the monetary requirement of a marketing team and give them
detailed financial summary of expenses and track the transactions on real time basis. It is
basically used to monitor the marketing budget and expense on real-time basis.
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Unique Features of Happay Card

Complete real- time visibility of all digital spends
Track and control all expenses in real-time.
View transactions and automate expense reporting in an instant from anywhere.
Setting limits & policies on marketing expenses: This ensures 'zero' over spending
Monitor spends on multiple platforms concurrently
Data analysis on tap of a button
With a single swipe of the card, one can capture images of receipts, record cash expenses and
submit the same speedily, while on-the-go.
Figure 7: Features of Happay
Page 31
Types of Business Expenses dealt by Happay:

Petty Cash Expenses
Supplies Expenses
Admin & Utility Expenses
Travelling and Entertainment Expenses of Loan Officers.
Food and Medical Allowances
Digital spends
Forex
Benefits of Happay.
Its an intelligent and intuitive expense management solution consisting of Happay Prepaid
cards that can be managed and controlled via Happays web dashboard and mobile app.
Happay has reduced the reconciliation time by 90%.
It has helped companies save over 300 hours annually.
Employees dont need a new Bank account to access and use Happay Card.
Employees can control the card with an App in their phone and use it to load money, withdraw
money instantly, and can set spending limits. Employees spend using Happay Prepaid Expense
Cards and report expenses on their Happay mobile app.
Company Administrators fund cards, track expenses, set limits and manage employee spending
from Happay's admin dashboard, via web or mobile.
The Happay card allows to restrict the usage, increasing security benefits and can also block
the card if you dont need it anymore.
It streamlines organizations expense workflow from end-to-end i.e. expense reporting to
reconciliation.
It gives real time visibility and control over business spends.
7 times faster reimbursements and 96% less paperwork.
Page 32
Process of getting started with Happay

Sign up for a Business Happay Account
Load Money into Happay pool account using NEFT (National Electronics Fund Transfer) or
IMPS (Immediate Payment Service)
Once done, order as many cards as required
Delivery of the cards at Business address
Set up your organization structure like admin, manager and employees and assign cards to your
employees
Fund cards instantly with the Organizations Happay Account
Heres what happay can do for you:
1. Automates and streamlines your expense management workflow from expense filing to
accounting
2. Eliminates the whole hassle of maintaining receipts, remembering to record all expenses
and spending hours on creating expense reports.
3. Happays Travel Card is a new age corporate card built for international business travel,
acting as your cheques and forex cards.
4. Simplify petty cash management in your organization by replacing physical cash with
Happay cards that are linked to a software.
5. Happays Flexi benefits allow HR teams to manage all employee benefits from food
vouchers and medical to mobile and fuel benefits from one platform and with zero
paperwork.
6. Our innovative solution brings all employees and expenses on one platform giving you
centralized visibility and control over all employee-incurred business expenditure.
7. You can integrate Happay with the accounting software you already use and export data
directly to them, cutting down on the data entry.
Page 33
HAPPAY ORGANIZATION STRUCTURE
Happay enables an Organization Structure of the Company to access the Software.
THE KEY PLAYERS IN HAPPAY
COMPANY ADMINISTRATORS EMPLOYEES

Fund, control and manage happay cards, and Make business expenses using happay cards.
approve/ verify expense reports from the admin Record expenses and submit expense reports
dashboard or the mobile app. through employee mobile app or employee
dashboard.
Company administrators are of 3 types
Admins
Managers
Finance
Figure 8: Organization Structure crested by Happay
Page 34
Expense Management Features for:
- Employees
- Management
- Finance Teams
1. Features for Employees:
- TRAVEL REQUISITIONS Employees can get their travel itinerary pre-approved by
their manager details include travel date, purpose of travel and expected cost.
- PER DIEM EXPENSE Define per diem rates and allow employees to create and
submit Per Diem expenses/allowances.
- UPCOMING TRIP REMINDERS Happay syncs with Google Calendar and prompts
employees to record travel expenses based on meetings/events.
- OFFLINE EXPENSE CAPTURE Expenses captured offline auto-sync with the app
as soon as the phone connects to 3G or Wi-Fi.
- ONE-TAP MONEY REQUESTS Employees with Happay Cards can request funds
right from their app. If approved, funds are loaded on Happay Cards immediately.
- CARD SWITCH ON-SWITCH OFF Employees with Happay Visa or Master Cards
can easily deactivate lost cards right from the Happay app- with just a click of a button.
- AUTOMATIC GPS TRACKING (Best Voted Feature) Employees using personal
vehicle for business, enable them to easily track and record mileage via Happays App.
2. Features for Management:

- GUIDED REPORT REVIEW Review not all but only those expense reports that need
your attention. Take action on fraudulent expenses with our alerts and notifications.
- REAL-TIME RECON REPORTS Stay on top of your companys expenses with
Happays on-demand reconciliation reports complete with spends and outstanding
balances.
- CORPORATE CARD PROGRAMS Along with employee reimbursements, Happay
offers you the choice to pre-fund expenses via Happay Visa and Master Cards.
- CENTRALIZED VISIBILITY AND CONTROL (Most Coveted Feature) Get
complete visibility and control over your company finances, budgets and cash flows in
a single place.
Page 35
- RICH BUSINESS INTELLIGENCE Filter expense data by cost centres, categories

time period, teams, etc. Easily analyse spending trends and identify saving
opportunities.
- ADVANCED POLICY ENFORCEMENT Create budgets and rules within the
system. Flag policy violations for review or alternatively block policy violations,
ensuring 100% compliance.
- INTERNATIONAL TRAVEL With Happay Forex Cards, power your International
Business travel across 175+ countries.
3. Features for Finance Team:

- GL CODE MAPPING Import GL codes from your accounting software depending
upon the organizations requirement, including categories, department, employees, and
more, and automatically map their expense data in Happay.
- AUDITOR ACCESS Give auditors access to expense data they need without allowing
full admin rights.
- ONE-CLICK REIMBURSEMENTS Add employees bank details to Happay and
reimburse money back to employee bank account with a click of a button.
- DATA BACKUP FOR 7 YEARS No limits on receipts uploaded or reports created
or submitted. Happay stores data for you for a long time
- NO DOUBLE DATA ENTRY (Most Coveted Feature) Integrate Happay with
accounting software you already use and export data directly to them.
Page 36
HOW TO GET STARTED WITH HAPPAY AS A COMPANY
Invite Employee/Add Admin
Load Money into Happay
Issue Cards to Employees
Download Happay Admin App
Load Money into Cards
View Expenses and Summary
View Money Request
Impact and value creation of Happay in India Shelter

o 7x Faster Processing of Expenses
o 96% reduction in paperwork
o 0% leakage on false submissions
o >30% improvement in labour productivity
o Savings = 4-17% of annual spends
Page 37
CHAPTER 3: JOB DESCRIPTION
Page 38
CHAPTER 3: JOB DESCRIPTION
TITLE OF THE PROJECT:

Expense Management Automation and Integration (Happay)
WORKING CONDITIONS:
Working environment was friendly and staff was very supportive. Companys Happay Accounts ID
and password was given for the operating of the software. Learning of operating Happay and Excel
was also provided. Sharing of company information was strictly prohibited due to compliance issue.
WORKING HOURS AND REPORTING:
The reporting time was between 10:00 a.m. to 10:30 a.m. and departure time was between 6:00 p.m.
to 8:00 p.m. depending upon the work load. The reporting persons were Mr. Rahul Gupta (CA) and
Ms. Mukti Chaplot (CS)
JOB DESCRIPITION
Title of the job- Intern
Department- Finance Department
WEEK WISE PLAN

WEEK 1
In initial days of my internship I read the admin file of Happay Card and understood the entire
process of Happay card from my mentor i.e. from issuance of Happay card till the delivery
process and why they have the company adopted the new automation process for its expense
management.
I read the user guide of Happay to know how employees operate, access and understand the
Happay Visa Card, Happay App and Happay Web Dashboard, to manage the spending,
recording of their bills and keeping view of the limit they still have in their card.
I was provided the training of using the Happay software and its mechanism. I studied about
the types of expenses India Shelter records using Happay and how the vendor payment takes
place. I was also asked to help in accounts department for assigning the bills against the claims
and to check for errors.
Page 39
WEEK 2
For Happay Card, I first maintained the record of all the employees and vendors of the India
Shelter, with their respective details. I updated and reconciled the Account no., from CTR file,
PAN card details, and Bank details in Vendor Master File.
After this, I reviewed the employees who holds Happay Card and maintained the list for those
employees who should be given Happay Card with the recommendations and remarks
according to their designation and their purpose of using the card.
WEEK 3
After some days, the records that I maintained about the vendors, I, then registered, updated
and entered their details on Happay Card dashboard online and have given remarks for any
changes and if any problem arises.
I set the payment frequency of vendors, like the payment should be made on everyday basis,
once in a month, once in a week or on a specified date of the month.
WEEK 4
I made the reconciliation of Happay users and Active Happay Cards of India Shelter washboard
file on weekly basis to keep the record of expenses, vendor payment, employee spending, and
the balance left in their card to upload the amount again on managers approval.
I helped in the accounts department in checking of the pending bills of the vendors like
technical, legal, rent and arranging, segregating them branch wise for easy recording and
tracking of expense each branch has done. I have reconciled the bills against the amount
claimed for checking any error of omission, commission, and fault transaction etc.
WEEK 5
After some days, when company was trying to settle the claims of the junior employees not
with the Axis Bank but through Happay Account only but on condition of not giving each
employee a new Happay Card (another facility provided by Happay, on approval of employees
reporting manager).
For this I have registered the employees first who holds the Happay Card, as a Manager again
on Happay, and I registered new employees under their reporting managers for claim of their
expenses on approval of their managers.
Page 40
WEEK 6 & 7
I learnt how the payment process take place in case of vendors and how finance manager after
analysing the report reimburse the expense of the employees.
On last days of my internship, I set the limit on each employees Happay Card and also set the
auto load limit in each employees Happay Card on the basis of each employees spending
nature in a month so that there is always a balance available in their account and if the spending
limit still more than the set limit they can further claim the amount by showing bills against the
same.
WEEK 8
I learnt from my mentor how she claims her own expense, to understand the entire process of
expense management from booking of a bill to, payment, reconciliation, analysis and to check
if there is any point of issue arises.
Apart from all this, I also read the financial statements of the company, its credit policy, have
done minutes of meetings and other secretarial work for purpose of book keeping.
Page 41
CHAPTER 4: ANALYSIS OF JOB DONE
Page 42
CHAPTER 4: ANALYSIS OF JOB DONE:

Expense Management is the system by which organization pays, process and initiate
employee expenses like travelling, entertainment etc.
Many organizations nowadays, uses licensed software to claim, authorize, audit and repay
these expenses.
While thinking of automating the expense management, companies look for software that can
reduce the cost of processing and auditing the expense reports, can improve employees
productivity, and is compliance focus with internal and external policies and regulations.
Earlier, expenses were managed manually. The process involves an employee majorly from
accounts department for completing a paper, spreadsheet file, or a Graphical User Interface-
based expense report which they then forward, to a manager or other controller for approval.
Once the manager has approved the claim, they forward it on to the accounts department for
processing. The accounts staff then key each expense item into the company's finance system
before filing the claim and receipts away. It was a long and a time-consuming method. But,
now with latest software, these processes are largely automated and the submission and
approvals processes are transacted electronically.
India shelter finance corporation ltd. is no other exception than companies in using and
adopting the software to automate its expense management. India Shelter in collaboration with
Happay automates and manages its expenses. Happay is an Expense Management Software for
businesses. Happays software was adopted by India Shelter in February 2017 and now the
company is keen to integrate Happay for its expense management.
Happay software lets India Shelter to customize the applications provided by the software
according to the necessity of the company to improve the expense management by integrating
this new automated software.
Earlier all the employees and vendors expenses were settled by AXIS Bank, some of them are
still claimed by the Bank though like technical and legal expenses. But now, most of the
expenses are reimbursed or paid using Happay. The idea was to of course to reduce the cost
but was more focussed on instant payment, to track and control the transaction to check frauds
etc.
Page 43
Understanding Mechanism of Happay

For employees, reporting expenses is really easy. All they need is to swipe the card and spend
using the Happay card, all the transactions are automatically recorded, just take the photo of
the receipt and save it on the go.
Cash expenses can also be added to Happay, for this add in the details, all is set and done.
Now, select the expenses and submit for approval to the manager.
As a manager, one can view and approve the employee expense reports on the go.
As finance, one can verify reports and directly export expense data to your accounting system
like Oracle, Tally, and SAP etc.
Also, one can analyse Companies business spends by month, by employee or by category. Can
also track budgets in real time and take proactive actions
Some of the Conclusions drawn on the basis on my job done are:

India Shelter is very proactive in its payment process on daily basis be it employees expenses
or vendor payment.
All the records are kept and maintained on daily basis of the Happay Card users and Active
Happay Cards like users PAN card, IFSC (Indian Financial System code), Bank Account
number, Employee code etc. A reconciliation is also maintained on weekly basis to check he
inventory and issued Happay Cards.
All the expenses that are claimed by the employees on the approval of managers are firstly
cross checked against their bills and processed by the accounts department after checking
finance expenses called payer, initiate the payment and then the Finance Manager check the
payment, called the First Level Approval (FLA), then these payments need the approval of
CFO of the company called the Second Level Approval (SLA). Expense reports are also duly
checked by the Finance Manager to detect the fraud using Happay Dashboard. Final reports
and progress are then conveyed to CFO of the company.
Page 44
Figure 9: Process of Automate Expense Management
The managers of different branches across 9 states are registered in Happay to be an active user
and on the other head for the permission on approval of claim by the employees.
Figure 10: Registration of Managers
Page 45
In Happay there are two ways of log in: As a Admin/Manager/Finance to improve management
control and to process the claim, the other is: As an employee to claim the expenses using a
Mobile App which provides records of transaction on real time basis.
Registering new employees using Happay for easy payment and reporting experience to
employees. Employees spend using happay cards and report expenses on the happay mobile
app.
Figure 11: Registration of Employees Figure
Page 46
India Shelter issues Happay Cards with their unique Happay ID and account to employees like
CEO, CFO, Department Heads, Managers etc. and posts like executives and associates to
reimburse their expenses. For this Happay charges Rs. 140 per month for the card issued to
India Shelter employees.
Employees Having Happay Card

8
2 19
6
13
72
28
Area Business Manager Assistant Manager Associate Manager

Branch Manager Regional Manager Executives
Chief Manger Credit Manager Others
Figure 12: Employees having Happay Card as per their Designation
Page 47
Initially, there were 161 Happay cards issued to the employees, and 277 Happay users in total
which expanded to 242 Active Happay Cards and 373 Happay Users, till date and still in
counting.
Active Happay Users

400 373
350 319
294 301
300 277
No. of Happay Users
250 223
193
200 170
161
150
100
50
Date
Figure 13: Graph showing increment of Happay users
Out of 600 vendors, initially we registered with 108 vendors in early May, 128 vendors by end
of May, 144 vendor in June and now we have 161 registered vendors in total and the target is
to register more than 400 vendors by the end of July, 2017.
Page 48
Progress on Increament of Happay Users
Page 49
India Shelter started with reimbursing only employees expenses using Happay and were still
paying to its vendors through Axis Bank. Then, they tried registering with the rent vendors
initially and now the target is to pay all the vendors using Happay Account except technical
and legal vendors.
Loading of the money takes place on monthly basis and as required for the timely payment of
the expenses using NEFT.
Figure 14: Loading Money into Happay Account
But, they somehow faced problem in initiating the payment to the rent vendors, then
they increased their limit of loading the money from Rs. 2, 00,000 to approx. Rs. 10,
00,000 into the Happay Account for easy payment option and they are still working on
the issues or bugs arising in instant payment.
Page 50
Figure 15: Loading Money into Happay Account
Finance Department is currently working for an automatic refill loading of Rs. 2000 Balance
in Employees Happay Account, otherwise the current limit is Rs. 10,000 in case of KYC of the
employees is not there, and Rs. 50,000 in case KYC is there.
There is a customized software for use of both employees as well as admin access. Vendor and
Expense report are generated automatically from Happay dashboard which helps in
reconciliation and maintaining records hassle free.
India Shelter is actively using this software for managing the expenses and is going to use
Happay for paying to the vendors and employee reimbursement on a large scale and decreasing
access through banks. The target is to increase the no. of users in Happay.
Recently, India Shelter have set the limit on Happay Card per employee basis i.e. an employee
cant spend more than the limit set for them using the following method:
POS
ATM
ONLINE
o Like, POS No restrictions and limit set.
o ATM - Max of Rs. 5000 can be transacted through ATM in 3 transactions in a month.
o Online No limit and restrictions set.
o Total Max of Rs. 50000 can be transacted total in a month
Page 51
Figure 16: Setting of limit on Employees' Happay card
India Shelter has also updated the auto load limit on each employees Happay Card called the
threshold limit and upload amount.
Like,
Designation Threshold Upload
Limit Limit
Executives 5000 10000
Regional Business 10000 10000
Manager/Regional Business
Operation Manager
Associate/Assistant Manager 5000 5000
Branch Manager 5000 5000
Credit Manager 5000 5000
Head of HR/Head of IT/Director 15000 10000
Area Business Manager 5000 10000
CEO/CFO 25000 25000
Page 52
CHAPTER 5: LEARNING OUTCOMES
Page 53
CHAPTER 5: LEARNING OUTCOMES
- HAPPAY MECHANISM
I have learnt about the mechanism of Happay that how it is the all-in-one platform for Business
Expense Management that provides real time expense reporting, one click reimbursements,
100% policy compliance, and automatic accounting sync.
- EXPENSE MANAGEMENT PROCESS

I have learnt about the process of managing expenses i.e. how the bills against each claim is
checked by accounts department, then the payment is initiated, and as for analysis part finance
manager checks it is called First Level Approval and last stage of approval by CFO of the
company is called Second Level Approval.
- REGISTRATION OF VENDORS, MANAGERS AND EMPLOYEES

I personally done maximum work on this, I understood what details like PAN Card, Bank
Account Number, ISFC code, Employee Code etc. are needed for registering them on Happay
so that they can excess the software.
- VENDOR PAYMENT AND REIMBURSEMENT OF EXPENSES

I came to know how India Shelter makes the vendor payment using Happay, and how the
finance department checks the claim, reimburse the expenses, analyse the expense report, and
records if there is any point of issue.
- SETTING THE LIMIT AND UPDATING AUTO LOAD LIMIT ON

HAPPAY
Recently, I came to know how the limit is set on different method of payment of employees
like, ATM, POS etc. and to set the auto load limit on each employees card so there is always
a set balance available in their card in case of spending the set limit in the card.
Page 54
- RECONCILIATION OF ACTIVE HAPPAY CARDS AND HAPPAY

USERS
I have learned to make the recon of Happay users to maintain the record of inventory of Happay
cards, this helped me to learn Excel to a decent point and different applications of it.
Page 55
CHAPTER 6: CONCLUSION AND RELEVANCE

OF SUGGESTIONS
Page 56
CHAPTER 6: CONCLUSION AND RELEVANCE OF SUGGESTIONS
6.1 CONCLUSION
A successful and effective expense management is one which results from creating an inclusive
business process that generates maximum value for every rupee of employee-generated spending.
Expense management is an essential business process. 97% of the companies reported that they still
manage and evaluate expenses manually. The cost of processing expenses manually is 4x compared to
an automated system.
Now, we are equipped with modern and hi-tech automated expense management applications that can
provide complete control quickly and economically, it is mandatory for all organizations to integrate
an effective expense management program that help business firms to cut costs and reduce risk.
Happay is one such software that has been integrated by India Shelter Finance Corporation Limited
for managing its expenses through an automated software. Happay is an All-In-One Business
Expense Management Solution that bring all your business expenses on one platform.
Benefits to India Shelter:
Happay software lets India Shelter to customize the applications provided by the software
according to the necessity of the company to improve the expense management by integrating
this new automated software.
Now, most of the expenses are reimbursed or paid using Happay. The idea was to of course to
reduce the cost but was more focused on instant payment, to track and control the transaction,
to check frauds etc.
Page 57
6.2 RELEVANCE OF SUGGESTIONS
India Shelter should plan to merge the tax plan in the Happay software, so that it can calculate
the payable amount automatically after TDS and GST.
India Shelter should try to migrate the software with the financial system so that the uploading
of the database of all the expenses could be automatic.
Currently, India Shelter uses Happay only for Expense Management like, vendor payment and
employee reimbursements. As company is growing and will be expanding in the coming years,
it can use digital marketing as a tool for promotions also, so Happay digital marketing cards
can be given to the marketing team for paid campaigns, tools and online purchases.
India Shelters HR/admin teams can also distribute employee benefits like food vouchers and
medical allowances on Happay cards and manage these benefits using the software.
Page 58
REFERENCES
http://www.happay.in/
http://www.indiashelter.in/
http://www.happay.in/blog/
https://www.ibef.org/industry/financial-services-india.aspx
Happay Admin Guides and Employee Guides
Page 59

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Summer Internship Project Report

Expense Management Automation and Integration (Happay

Submitted in partial fulfilment of the requirements for the award of

Under the Supervision of

JAIPURIA INSTITUTE OF MANAGEMENT, NOIDA

PGDM (G) 2016-18

Expense Management Automation and Integration (Happay Card)

Expense Management Automation and Integration (Happay Card)

Expense Management Automation and Integration (Happay Card)

Expense Management Automation and Integration (Happay Card)

CHAPTER 1: INDSUTRY AND COMPANY

Expense Management Automation and Integration (Happay Card)

CHAPTER 1: INDSUTRY AND COMPANY DESCRIPTION

1.1 OVERVIEW OF FINANCIAL SERVICE INDUSTRY:

Expense Management Automation and Integration (Happay Card)

Figure 1 Credit Growth at NBFC over the years

1.1.1 HOUSING FINANCE SECTOR

For construction or buying a new home

For purchase of plots

1.1.2 STRUCTURE OF HOUSING FINANCE:

Figure 2 Structure of Housing Finance

1.1.3 CURRENT SCENARIO

Housing Finance Companies in India

LIC Housing Finance Limited

PNB Housing Finance

Dewan Housing Finance Limited

Sundram Home Finance

GRUH Finance Limited

Expense Management Automation and Integration (Happay Card)

Expense Management Automation and Integration (Happay Card)

1.2.3 KEY INFORRMATION

Setup Date 26th October, 1998

Incorporation Date 12th March 2010

CEO/MD Mr. Anil Mehta

CFO and Head of Operations Mr. Sunil Jain

Head of Credit Soumen Jourdar

Head of Distribution Vikram Chopra

Head Technical Varun Guliani

Head of Human Resources Devraj Dutta

Investors Sequoia Capital, Nexus

Type Company Public

Size 201 to 500 Employees

Revenue 100 to 500 million (INR)

Headquarters Gurgaon, Haryana

Competitors Gruh Finance, Shubham

Expense Management Automation and Integration (Happay Card)

1.2.4 INTRODUCTION TO INDIA SHELTER FINANCE CORPORATION

Expense Management Automation and Integration (Happay Card)

1.2.5 ORGANIZATION STRUCTURE

Head of Head of Head of Head of

Finance Credit Team Sales & IT Team

Figure 3 Organization Structure of India Shelter

Expense Management Automation and Integration (Happay Card)

1.2.6 WHY INDIA SHELTER?

The main objective of India Shelter is to provide credit to middle income

Figure 4: Products offered by India Shelter

Expense Management Automation and Integration (Happay Card)

1.2.7.1 HOME LOANS