The business that made it through the most recent recession probably have a thing or two to share about cost-cutting. After downsizing and squeezing every penny, businesses of all sizes and types were forced to spend wisely or risk closing. However, one common expense seems to remain out of reach: travel and expenses (T&E). T&E is one of the most controllable expenses, yet is often overlooked. Rethink this expense and improve your bottom line by implementing an efficient expense management solutions.
Download the eBook by Concur, “You’ve already cut costs. Now what?”, to learn how you can rethink the travel expense reporting process and find new ways to save money on travel and related costs as well as improve productivity. You can start the process by asking these questions:
- How quickly are you aware of travel accommodations made by employees? Employees often book their own accommodations. If you don’t know which hotels, car rentals, or airlines your employees are using until you see an expense report, then it’s too late to correct decisions before incurring costs.
- Are employees complying with your T&E policy? Your T&E policy should be clear and precise and employees should, ideally, follow it. However, if you aren’t aware of spending issues until after the fact, then it becomes difficult to monitor situations when employees avoid policy guidelines and how much their decisions can impact project or corporate budgets.
- Can you make budget-related decisions based on travel and related spending? Monitoring project budgets or corporate budgets is challenging with out real-time visibility into travel and related expenses. Waiting until an employee submits an expense report and makes it difficult to determine when you are getting close to or exceeding budgets. This can lead to unsatisfied customers should projects go over budget and can also lead to problems with cash flow.
You can gain greater control and insight over travel and related spending by replacing paper-based expense reporting with a more powerful cloud-based solution. Your employees will save time on the reporting and approval process, you can control decisions between booking and spending, and you’ll find additional ways to cut costs as you identify trends with travel spending. Download “You’ve already cut costs. Now what?” and contact SSi Consulting to learn new ways to spend wisely and control travel costs.