The usage of mobile device to book travel is on rise, which means it is getting more difficult for finance managers to ensure compliance and manage spending. With digital disruption taking giant leaps, it has become very important for financial managers to implement T&E solutions that simplify processes and gain access to actionable data.
Embracing mobile technology for T&E is not just critical from an ease-of-use perspective; in fact, the cost savings are significant. While you traverse T&E management, there are three key areas that are top of mind for every financial leader:
T&E tools should sync with the technology people use
Making purchases online using various tools has gotten easier. Employees have started embracing new digital capabilities in their day-to-day lives, and hence they expect to work with more sophisticated tools to manage T&E. Your expense management solution should have built-in features that allow you to manage the expense process end-to-end in a comprehensive way.
Digital disruption becomes a challenge, if you don’t spend time
Tracking employee-generated expenses is itself a daunting task. Surveys reported that expense and cash flow management is the most challenging responsibility faced by financial decision makers. Having more efficient tools to simplify the T&E process is more critical now than ever. Also, the system you deploy should support extensive reporting capabilities so that employees can make smarter decisions while complying with T&E policy.
New T&E technology improves process efficiency & reporting
T&E solutions that are easy-to-use, user friendly, and integrate with other systems are mostly opted by today’s financial leaders. Nowadays, most companies have started adopting T&E solutions to create win-win situations for both businesses and employees.