Infographic: Have You Outgrown Your Travel & Expense Management System?
Here are 10 sure signs that your existing T&E solution isn't working as effectively and efficiently as it could. Do any of these sound familiar? Find out today.
Here are some clues that your company will benefit from a Travel & Expense management system makeover: Resources aren't being used wisely, non-compliance is the norm, fraud prevention is patchy and reactive, and spend's true value isn't maximized. Want to learn how to identify problems with your existing T&E system? Download our infographic to find out if you could benefit from unlocking the power of your T&E spend!
FAQ
What are the ten ways you can tell your travel & expense management system is wasting a lot of money and causing frustration for your users?
1. You're using manual methods for creating expense reports.
2. Complex approval chains are needed to get your expense reports to be paid.
3. There are often mistakes on expense reports.
4. Your existing system can't track taxes incurred outside the US.
5. Employees book travel themselves, not necessarily at the lowest available costs.
6. It's difficult to point employees to the best deals, especially pre-negotiated rates.
7. Humans have to spend time on auditing expenses, so there's lots of error and fraud.
8. You detect fraud after the reimbursement is already made, often when it's too late to do anything.
9. Figuring out which expenses should be moved to contracts is challenging.
10. Benchmarking and making improvements are both difficult, since clear KPIs are hard to find.
2. Complex approval chains are needed to get your expense reports to be paid.
3. There are often mistakes on expense reports.
4. Your existing system can't track taxes incurred outside the US.
5. Employees book travel themselves, not necessarily at the lowest available costs.
6. It's difficult to point employees to the best deals, especially pre-negotiated rates.
7. Humans have to spend time on auditing expenses, so there's lots of error and fraud.
8. You detect fraud after the reimbursement is already made, often when it's too late to do anything.
9. Figuring out which expenses should be moved to contracts is challenging.
10. Benchmarking and making improvements are both difficult, since clear KPIs are hard to find.
What makes for an effective Travel & Expense management system?
1. Expense reports can be created swiftly and easily with the latest digital methods.
2. Approval of expenses is simple and fast.
3. Errors on expense reports are minimized and easily caught.
4. It's no problem to track and process taxes outside the US.
5. Employees can easily book travel though the system at the lowest cost.
6. You can guide your employees to take advantage of pre-negotiated rates.
7. Audits of expenses are done with digital methods to reduce fraud and minimize headaches.
8. The system detects fraud easily and quickly.
9. It's a breeze to identify which expenses should be moved to contracts.
10. You have full visibility into expenses and can easily compare against best-in-class KPIs.
2. Approval of expenses is simple and fast.
3. Errors on expense reports are minimized and easily caught.
4. It's no problem to track and process taxes outside the US.
5. Employees can easily book travel though the system at the lowest cost.
6. You can guide your employees to take advantage of pre-negotiated rates.
7. Audits of expenses are done with digital methods to reduce fraud and minimize headaches.
8. The system detects fraud easily and quickly.
9. It's a breeze to identify which expenses should be moved to contracts.
10. You have full visibility into expenses and can easily compare against best-in-class KPIs.
