Business travel has become globally connected and the demand for more efficient monitoring of expense reports and cash flow visibility has risen. An increased number of organizations are deploying their entire travel and expense management workflow into advanced automation solutions to attain greater ROI and save indirect costs.
Automation brings simplicity to the organization’s expense management process in many ways, such as reduced time in approving pre-travel authorization, ease in submitting receipts, customized approval workflow as per the organizational needs, compliance with companies’ policies, and integration with prepaid card transactions.
Cost savings – Top of the agenda!
With automation in travel and expense management, you can assure cost savings to the organization by avoiding duplicate and fraudulent expenses, as ExpenseAnywhere tracks such transactions in the simplest way. You will be notified about such transactions automatically through an advanced receipt matching and validation OCR technology. Also, if any errors or out-of-policy claims arise, the system will flag the occurrence so managers and employees are able to resolve discrepancies. Finance departments will be happier to know that our automated TEM system reviews each line item to ensure it complies with company policy.
Many of our clients have gained upwards of 52% of cost savings and up to 44% of cash flow visibility by automating their travel and expense management system with ExpenseAnywhere.
The time has come to think and act strategically towards implementing accounts payable automation to help businesses overcome challenges related to cash flow management. In the meantime, business travelers are seeking drastically reduced amounts of time and less chaos when it comes to preparing or submitting expense reports. With smart finance technology in place, this can be achieved successfully as they move away from manual and paper-based systems. Our products and company’s success are time-tested, we’ve gone above and beyond our client’s expectations to bring ease of use, simplicity, and accurate reporting for business and travel expense management with our range of automation offerings.
There is an immense potential for businesses to save cost and time as automation in managing T&E will bring control and unlock greater ROI.