Why businesses should consider pre-trip approval process?
One of the big issues that employees usually face is that how long it will take for an expense report to get approved. The length of the approval process depends on your expense line items. The delay in approval process will discourage employees from taking business trips. In most cases, employees just don’t show interest in business trips due to long delays.
Expense report solution can expedite the reimbursement process and reduce the possible delays for approvals. An expense report can be reviewed by the finance department as it happens and then the process can be accelerated. For people who are looking for a faster way to process reimbursement requests can go with the pre-trip approval process.
In pre-trip approval process, employees and finance managers can have a close look over all the activities that are involved in a business trip. In general, you can know the cost estimates, travel allowances and other anticipated costs along with the duration and purpose of the business trip. Once everything is added to the report, it should be sent to your finance department for approval, which means all your expenses involved in the business trip will be pre-approved so that reimbursement can be quickly done.
After the business trip, the employee is required to file the expense report using our expense management solution. Then, the actual report can be compared with the pre-trip approval request such that your accounts department can look over the cost estimates versus actual expenses.
Likewise, any additional expenses can be figured out and any fraudulence activities can be identified easily. This approach would also provide analytics that can give you a deep insight over the expenses. All the reports that match with the pre-trip approval requests can be reimbursed easily, whereas, those reports that shows drastic difference in the expenses can be rechecked and re verified. Likewise, the expense reimbursement process can be accelerated with the pre-trip approval process.