123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Technology,-Gadget-and-Science >> View Article

Expense Management Software: Hassle Free Corporate Travel Management

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

Organizations irrespective of its business and employee size needs to have a proper system in place for managing its expenses and the smooth functioning of its resources. Expense management system with its policies and procedures, technologies and services is deployed by organizations to process and pay employee-incurred expenses for travel and entertainment. However, as organizations become global entities, the expanse of the business network spreads beyond geographical boundaries making management of these expenses worldwide a difficult proposition. .

Nevertheless, with the global economic scenario looming large on the organizations to cut corners in its expenses business travel expenses are also affected. In a globalized business environment with offices and branches spread worldwide, the multicultural multinational workforce has to be managed, organized and directed to meet organizational goals and objectives. Though technological innovations have paved way for a virtual interaction and communication with the workforce, it may not be as ...
... effective as the face-to-face interaction. Hence, cutting down on business travel expense on the part of key professionals may not always be a viable option.

Effective business travel management and spend analysis is a prerequisite to strategic sourcing. However, relying on manual processes will result in use of man-hours and increased transaction costs. Automation of this processes either through use of software implementation or through web-based on-demand applications from SaaS providers will pave for better management control and reduced transaction costs.

A number of service providers have designed and developed software for managing of business travel expense. However, the leaders in the industry have exploited the cloud computing technology and have designed software for digital management of the business travel expense and any other expense initiated by the employees and management worldwide. This cloud based business travel expense management software provides end-to-end visibility, control and enhanced spend analysis across the expenses in comparison to the traditional expense management software.

The cloud based corporate travel and expense management software with its various modules offers a number of benefits for the organization. Through effective accounting, invoice handling, travel booking, cloud collaboration with banks, airlines, travel agents and hotels this is automation and optimization of travel expenses. Further, it greatly reduces travel and travel administration costs, provides improved control through compliance with tax regulations and laws prevalent in the region, real-time information of the value network, eliminates repetitive manual task and expedite the travel claim approvals thus paving way for a hassle free business travel


Also read on –
eGovernment
supply chain management solutions

Total Views: 315Word Count: 418See All articles From Author

Add Comment

Technology, Gadget and Science Articles

1. Why Silent Pods Are Essential For Modern Open-plan Offices?
Author: Silent Pod

2. Innovative Design, Unmatched Quiet: Explore Our New Pods
Author: Silent Pod

3. How Silent Pod Is Revolutionizing Workspaces In The Uae?
Author: Silent Pod

4. Discovering The Advantages Of Various Types Of Silent Pods
Author: Silent Pod

5. Drone Spraying: A Game Changer For Hard-to-reach Vineyards
Author: Alex Wilkinson

6. Comparative Analysis Of Glass Cloth Electrical Tape And Fiberglass Tape For Transformer Insulation
Author: jarod

7. Which Certification Is Best For A Java Full Stack Developer?
Author: Shankar Singh

8. Streamlining Operations With Heavy Equipment Tracking Solutions
Author: Asset Tracker

9. Why Choose Laravel : Explore Its Features & Benefits For Building Web Applications
Author: Rob Stephen

10. Why Your Business Needs An Inventory Management Software Solution
Author: nagaraj

11. What Thickness And Width Options Are Available For Polyimide Tape?
Author: jarod

12. Ứng Dụng Máy In Số Thứ Tự Trong Các điểm Giao Dịch Công
Author: xephangsmart

13. Navigating Challenges And Seizing Opportunities In Tech Development
Author: Yash Tamakuwala

14. Business Process Outsourcing Market Insights: The Impact Of Digital Marketing Strategies
Author: Grand View Research

15. Why Your Business Needs E-invoicing Software For Hassle-free Billing
Author: nagaraj

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