Despite advancements aimed at shrinking travel in the business world with technology such as online meeting rooms, web conferencing and communication tools, T&E expenditures continue to rise. PayStream Advisors conducted a first quarter 2013 Travel and Expense Management Adoption survey of over 300 professionals from a variety of finance and accounting positions. The vast majority (58 percent) of survey respondents report that T&E spend has increased over the last three years. Automating expense management is critical for organizations looking to rein in costs and improve employee satisfaction. By not automating expense management, many companies are choosing to let employees misuse and abuse expense accounts. Often employees will knowingly commit fraud on an expense report because for some reason, they feel justified. Even employees who are trying to follow procedures can unknowingly be costing their company thousands of dollars in rogue spending.
Innovative expense management solutions, like ExpenseAnywhere, are making it easier than ever for business travelers, as well as those incurring local expenses, to enter expenses while on the go. Improved functionality allows employees to quickly enter expense reports on their mobile devices and smartphone cameras can even be used to capture receipts with little effort. Approving managers also benefit when they are able to drill down on expenses from email and mobile devices to scrutinize expense spend and receipts to approve expenses from anywhere. As a result, employees are able to get reimbursed much quicker, increasing satisfaction with their employer.
When exploring expense management automation solutions, make certain to consider the hottest T&E trends:
- Ease of Use - ExpenseAnywhere has been named the easiest to use T&E Automation Solution in the industry!
- Pre-Trip Authorization (PTA) -ExpenseAnywhere features a built-in PTA module that helps company administrators enforce policy, resulting in much tighter control of overall spending!
- Online Booking - ExpenseAnywhere is the ONLY T&E Automation Solution that is partnered with Orbitz for Business!
- Expense Reporting - ExpenseAnywhere has a full suite of solutions that can automate the simplest and most difficult of expense reports on a global scale!
- SaaS Solutions - ExpenseAnywhere is the only SaaS-based solution that is fully configurable, and can be customized to your companies current processes and procedures—we give you want you need, not what we think you need!
- Mobile Functionality - ExpenseAnywhere offers complete mobility regardless of what mobile device your travelers are using!
- Robust Reporting Capabilities - ExpenseAnywhere features the most robust reporting dashboards with complete drill down capabilities, giving you the information you need when you need it!
Effective expense management automation solutions provide flexible, intuitive and instant access to information. Without travel and expense metrics, companies are unable to view spend patterns to gain complete control over rogue spending. Expense management automation solutions provide crystal clear visibility into spend, providing the opportunity to drill down on opportunities for savings. These solutions also eliminate manual, error-prone processes and streamline the expense approval and reimbursement cycles, while ensuring corporate travel and expense compliance is adhered to strictly.