123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Key Elements In Travel Expense Management

Profile Picture
By Author: martin well
Total Articles: 364
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Business travel is a necessary requirement for proliferation and expansion but the associated expenses are a matter of great concern as it can consume a major chunk of your budget. You require an efficient travel expense management process that provides improved controls and lowers the costs and lead times effectively. A streamlined process for the management of business travel expenses provides opportunities to deliver leveraged performances and improved customer satisfaction. Here are some key components of travel expense management that you have to consider

• Process Management Capabilities

The business travel expense management process should be flexible so that they can be customized to meet specific requirements of your business. You should have an efficient workflow to manage the trips right from the booking stage till the generation of expense reports. The process should also provide configuration facilities based on the company and country’s special rules and regulations for better management of allowances and reimbursements.

...
... • Tools to Facilitate the End-Users

The business expense management process should employ simple and flexible tools for hassle-free profile information maintenance, for making bookings, for reporting expenses, reconciliation of invoices and a gamut of other functions. The tools have to be adept at master data management to facilitate follow-ups and reporting efficiently.

• Master Data management

The enforcement of an automated process is necessary to maintain the individual accounts as well as the organizational hierarchy. The master data management process should provide the facility of updating the traveler’s profile from their back-end systems and sharing it with the business process network so that a single and correct master data is shared and a high level of accuracy is achieved.

• Business Process Network

The business travel management process should provide a platform to connect easily with the providers in your process network such as travel agencies, hotels, taxi companies, airlines, credit card companies and banks etc. It should ensure that that accurate information is circulated so that the travel management process is fulfilled satisfactorily.

• Monitoring Information for Improved Services

The business travel expense management process has to be continuously updated through regular information monitoring for enhancing performances and delivering optimum services.

• A Secure Environment

The process is responsible for providing a safe and secure environment and helps you in choosing the level of service you require.

• Availing Third-Party Services

The business travel expense management process should provide you the facility of benefiting from third-party services such as video conferencing and online currency conversions.

Also read on –
order fulfillment,
Regional development

Total Views: 272Word Count: 430See All articles From Author

Add Comment

Business Articles

1. Lawnmower Engines: Some Of The Basics In Understanding How They Work And How To Maintain Them In Chatham-kent
Author: Denny Hawk

2. Keep Your Chainsaw Running Smoothly: Chatham-kent’s Leading Chainsaw Parts Repair Service
Author: Denny Hawk

3. Enhance Your Brand Visibility With Expert Signage Solutions In Auckland
Author: Tinting Experts

4. Driveworks Support - Design And Automation Services
Author: Design Automations

5. Professional Driveworks Training Course - Design Automation
Author: Design Automations

6. Driveworks Implementation Services - Design And Automation
Author: Design Automations

7. Why Kitchener Businesses Need Mobile Optimization For Seo Wins
Author: Vishal Sharma

8. Local Seo For London Businesses
Author: Mandreel

9. Navigating The Competitive Seo Landscape In London
Author: Mandreel

10. Miami Seo Company Solutions Designed To Grow Your Business
Author: Mandreel

11. The Power Of Miami Seo: How To Dominate Your Local Market
Author: Mandreel

12. Local Seo Strategies For Small Businesses In Toronto
Author: Mandreel

13. The Rise Of Tech Startups And The Role Of An Seo Agency In Toronto
Author: Mandreel

14. Emerging Trends In Ppc Advertising
Author: Mandreel

15. Ppc Management Strategies For Small Businesses In The Uk
Author: Mandreel

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: