How MUFG Cut Its Expense Processing Workload by 1 FTE
Discover how one of the world’s leading financial institutions modernized its accounts payable with Klippa, reducing paperwork, increasing efficiency, and enhancing financial accuracy.
About MUFG
Mitsubishi UFJ Financial Group (MUFG) is one of the world’s leading financial institutions, with operations spanning multiple regions, including Japan, Germany, the Netherlands, Australia, Belgium, and Spain. As a global banking leader, MUFG continuously seeks to improve financial processes and operational efficiency across its international branches. Expense management and invoice processing are critical functions for ensuring financial accuracy and compliance.
The Challenges of Paper-Based Expense Management and Invoice Processing
Before implementing Klippa, MUFG did not have a digital expense management process in place. Business expenses and purchase invoices were managed entirely on paper, with no digital workflows or audit trails. The finance teams manually entered data into the legacy OVS system and used a paper-based approval process, requiring invoices to be printed, reviewed, and physically signed.
This outdated workflow led to delays, higher administrative costs, and increased risks of human error. The manual approach also made financial reporting cumbersome, impacting decision-making and resource allocation.
MUFG Digitizes Spend Workflows with Klippa’s Automated Solution
With Klippa’s SpendControl solution, MUFG fully digitized its expense management and invoice processing across multiple branches. The automation of expense reports and invoice approvals eliminated the need for paper-based processes, significantly improving efficiency. Germany also implemented a Human-In-The-Loop (HITL) validation system to ensure 100% recognition accuracy for invoice data, further enhancing compliance and reducing processing errors.
Additionally, Klippa provided a tailor-made XLSX export format, enabling seamless integration with MUFG’s legacy OVS system. The exported data is automatically processed using Robotic Process Automation (RPA), ensuring smooth and error-free transaction approvals across branches. This streamlined approach drastically reduced administrative workload and improved overall financial accuracy.
Why Klippa
MUFG selected Klippa due to its personal approach during the sales process and its co-creation mindset, ensuring that the digital solution aligned seamlessly with MUFG’s complex ERP system setup. The ability to automate complex financial workflows, improve data accuracy, and integrate effortlessly with existing banking systems made Klippa the ideal partner.
The combination of OCR-powered invoice processing, HITL validation, and customized data exports provided an end-to-end solution tailored to MUFG’s operational needs.
By leveraging Klippa’s SpendControl solution, MUFG has successfully modernized its expense management and invoice processing workflows, achieving higher efficiency, cost savings, and streamlined financial operations across its international branches.
The Benefits for MUFG
Fully digital expense and invoice processing
Eliminates paper-based workflows, streamlining approvals and record-keeping.
Greater financial control & accuracy
OCR technology and Human-In-The-Loop (HITL) validation ensure 100% data recognition and compliance.
Seamless ERP integration for smooth processes
Custom XLSX exports and RPA automation enable smooth processing in the OVS system.
Reduced administrative workload
Automation cuts manual data entry, saving time and reducing the need for additional FTEs.