If you are in the process of evaluating several travel expense software offers, you certainly are on the right path to increasing the level of compliance within your organization. You have probably done everything you could to encourage your employees to comply with your travel policy, but costs are still high or increasing. Meanwhile, your financial team is struggling to manage all the receipts and verify compliance.
In the era of automation and digitization, a travel and expense management software might be one of the most important tools you need to keep costs under control, and there are several reasons why this type of software increases compliance within your company.
Travel expense software allows you to reduce the time spent on checking, archiving and submitting paper receipts. Tools such as OCR software allow your business travelers to make a digital copy of their receipts as soon as they receive one from the hotel where they stayed or the restaurants where they ate during their trip. Digitization and automation make it easier for everyone in your company to access the data they need, whenever they need and from wherever they are allowed to. Just think how a travel expense management tool changes the priorities in your financial department or how easy it is to prepare for an audit.
Does your corporate travel policy teach employees how to save money during their trips? It should be short enough to ensure that every traveler reads it, and clear enough for everyone to understand. When your employees know the limits and the exceptions, it is easier for them to be compliant. Also, along with a clear travel policy, you need a simple approval process to keep efficiency up and costs down.
Non-compliance is frequently generated by human errors - it can happen to the best of us, it can even happen to your most loyal and scrupulous employees. If your employees must gather all the receipts from their business trip and wait until returning to the office before submitting them, a lot of errors can occur. Maybe because they are still tired from their previous trip, or maybe they are in a hurry to finish more important tasks.
Instead of making them wait until the last minute to enter their expenses, you can offer them a mobile app that captures expenses on the go as part of the travel expense solution your company plans to implement. Receipts will no longer be lost or damaged and you can also have an automated approval process integrated within the mobile app for your business travelers.
Both business travelers and expense controllers benefit from automation. While employees spend less time submitting receipts thanks to a mobile app, controllers dramatically reduce the time spent looking for possible inaccuracies in expense claims.
A dedicated feature for expense control can point out the differences between the information uploaded by employees and the information on the receipts in the most important fields. Mistakes are flagged so that controllers no longer have to spend hours verifying every claim, looking for faults or fraud.
When you choose an automated travel expense management software, you can integrate your travel policy among all the processes that you plan to automate. Do not expect your controllers or employees to memorize the travel policy. Your employees might forget or not be aware of some of the rules and principles in your travel policy. Automation saves your company from human errors and helps you take immediate action when mistakes, fraud or faults occur.
An automated travel expense tool will certainly help the entire company achieve compliance not only with the travel policy, but also with the legal regulations in your country or in the countries your employees visit for business purposes. From the first day of using an automated solution, you will begin to notice the operational benefits of travel expense software and to see that there is a direct connection between travel expenses and employee compliance with the travel policy.