What are the technology trends for managing travel expenses and how do they impact savings?

FERNANDO PACCINI, Senior account executive Cloud Financials & Suite de SAP ESPAÑA

 

The cost of managing an expense sheet semi-automatically or manually is a company's cost to a company tripling operational expenses compared to another company that processes them in an automated manner and with fully integrated systems .

Current innovative trends in travel management, such as online self-booking platforms, mobility, digital capture and OCR recognition of receipts or automatic integration of credit card expenses, are some of the capabilities of this solution;These are some of the capabilities that companies are adopting to improve travel management processes and the traveler experience, as well as to comply more effectively with the company's corporate travel policies.

Every business trip begins with the planning and booking, and ends once the expenses have been reimbursed. This is why it is essential that all the new capabilities and trends mentioned are integrated with the backend of the company and allow organizations to complete in an automated way the process from start to finish. To sustain under a technology that can meet these requirements is vital to be able to have complete visibility of the expense, and thus to be able to analyze it in detail.

Companies now have a huge opportunity to control and reduce travel spend and achieve increased employee satisfaction and experience in managing their spend.