What do other companies do to decrease their travel expenses? You might be surprised, but one of the key differentiators is an integration between two of the most important software solutions in your company: the ERP system and the travel and expense management software.
How big is the impact of this measure? Well, looking at a research from the Aberdeen Group among companies that leverage integration between ERP and T&E management solution, it looks like the impact is very important for the success of your management actions:
The integration of your ERP system with your T&E solution impacts not only your travel manager's activity and results, but also has a positive impact on all the departments and all the levels of management in your company. To learn more about the importance of integration, let's look at the combined power of these two softwares and the real benefits for your business.
Integrating these two vital technologies in your company helps you overcome a lot of challenges that managers from all over the world face when it comes to keeping travel costs under control and business travelers happy:
Challenges that the best-in class companies face when managing travel expenses
With this, we can conclude that ERP integration with you Travel Expense Management solution has three main benefits for your company:
1. Informed decisions
When you and other managers in your company have no visibility over the travel expenses, you can easily fall in the trap of exceeding your allocated budget, making it very hard for your to take immediate action. An integration of your travel expense management tool with your ERP solution enables you to see data from both sources and obtain valuable insights. Based on the data from your finance department and your travel team, you can make informed decisions that allow you to gain control over travel expenses.
2. Cash flow
ERP integration with travel expense management brings you a better view over your cash flow and allows you to take immediate action, such as taking advantage of a limited offer for your team's next business trip, knowing the status of all accounts.
3. Travel costs
Combine the data from an ERP solution with your corporate travel policies and your business plans and you will generate an increased purchasing power. Integration between the two softwares gives you more details regarding the savings you can start making, the changes among your vendors and the way money is spent on business trips, among others.
Integration with ERP solutions is an efficient process when your travel management software supplier is an open partner. If you want to take this important step towards a new improvement in your travel expense management, be sure to collaborate with a company that understands your needs.