Fundamental Aspects of Travel Expense Management Software Gone are the days when people met, exchanged pleasantries, interacted with each other, discussed businesses and made deals. Instead, today more and more businesses are turning to technology for meetings. Thanks to the internet and its paraphernalia, people could save considerable amount of their time, money, and efforts by meeting up on the net rather than face-to-face. Emails, voice mails, teleconferencing, videoconferencing, etc have made it easy for business people to disseminate information rapidly and within no time. As more and more people took to virtual meetings, the number of face-to-face meetings started to dwindle. Moreover, when the businesses were hit by economic recession, companies and organizations as part of their strategy to cut down superfluous spending took no time to reduce business travel budgets. However, the fact of the matter is considering the numerous benefits of face-to-face meetings, companies and organizations are taking a great risk by cutting down business travel budgets. Instead of taking the extreme step, companies and enterprises must try improving their business travel management to make business travels more organized and cost-effective. Since it is difficult to achieve proper spend analysis with traditional expense management software, companies and organizations must invest in effective travel expense management software. There are many in the market but opt for one that is different from the traditional ones. Fundamental Aspects of Travel Expense Management Software The following are some of the aspects that the companies should look for in their travel expense management software(TEMS): ·
TEMS that configure country-specific and company-specific rules and regulations to provide
solutions that suit specific customer needs. ·
TEMS that have flexible, simple-to-use interfaces for maintaining profile information, making
bookings, reporting expenses, settling invoices, etc; tools for BPR configuration and master data management, and strategic tools for reporting and follow up. ·
TEMS that accomplish a very high level of automation by ensuring that the same correct master data
is always shared by all involved parties. ·
TEMS that execute the automated end-to-end travel process by connecting customers with travel
agencies, travel providers (such as taxi companies, airlines, and hotels), credit card companies, banks, and travel account providers. ·
TEMS that is always up to date.
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TEMS that helps customers to connect to third party services such as currency conversion sites,
video conferencing sites and so on.
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TEMS that ensure that all technical functions are working correctly all the time.
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TEMS that allow customers to select the level of service of their choice.
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TEMS that is highly configurable, customizable and with integration interfaces that can be adapted
to customers’ back-end systems. Also read on - Digital management, eGovernment