26
May

The New Alternative to Corporate Travel Management Processes

Corporate Travel and Expense Management

Corporate travel management is a specialized business function that balances employee needs with corporate goals, financial and otherwise. Corporate travel management ensures cost tracking and control, facilitates adherence to corporate travel policies, realizes savings through negotiated discounts, and serves as a valuable information centre for employees and managers in times when travel is not as smooth and carefree as it used to be.

Corporate travel management is a specialized business function that balances employee needs with corporate goals, financial and otherwise. Corporate travel management ensures cost tracking and control, facilitates adherence to corporate travel policies, realizes savings through negotiated discounts, and serves as a valuable information centre for employees and managers in times when travel is not as smooth and carefree as it used to be.

 

But corporate travel management is still misunderstood and undervalued by some organizations today. Therefore, the role of business travel within the corporate structure must be placed in proper context so that its value can be measured and appreciated.

Common travel costs, such as hotel and food, should be clearly written out. If your organization has a partnership with specific chains or a preferred list of businesses, provide a convenient reference sheet to save time and reduce complexity. Some employees look for low-priced hotels to save money but end up paying more than they would with the partner company.

Are your corporate travel management policies or processes confusing or difficult to understand? It is okay to see yes because you are the only reader of this blog. You are not the only organization to acknowledge that the policies and processes are not working the way they should be.  If employees do not know exactly what falls under an acceptable payment, then they have no way to avoid running into issues.

Did you know that manual processes make it difficult to stay on top of the incoming costs, particularly if you have hundreds of employees sending their information at the same time? This problem gets even worse if you handle paper receipts, as they may be hard to read or provide an incomplete record into the costs.

Your present system or third party corporate travel provider may not be sufficient to give you the required data in meaningful forms. For example, if you can only view a limited set of reports, you may miss out on important insights. Information from other databases may shed additional light onto particularly tricky situations, but only if you have a way to pull this data into your accounting system.

Effective corporate travel management is a tricky process, especially if you have outdated or inefficient systems lying underneath. By identifying your problem areas and putting the right solution in place for each, you can improve the way your organization addresses travel expenses. As you are aware, gathering travel data and setting up travel agreements with providers is important but it is merely the first step to realizing actual financial benefits. If you are the corporate travel manager, then you are responsible for developing corporate policies that optimize the organization’s travel dollar. In order for an organization to get the most out of their negotiated discounts, policies must be created that compel employees to make their travel arrangements through a corporation’s travel department, using these negotiated rates with preferred suppliers. Our Corporate Travel Solution package will resolve the issues described.

Okay, you have an awesome corporate travel management policies and processes in place but are the policies and processes being adhered too? If your team is not following the policies that have been defined, your organization may be wasting money through more expensive bookings with non-preferred travel suppliers. A managed corporate travel management program guides employees to travel the way management recommends. By taking advantage of supplier discounts, a managed travel program pays for itself through cost avoidance and negotiated revenue streams (rebates, incentive payments, etc.).

A corporate travel management program is not just about saving money. The program should consider the safety and efficiency of its travelling employees. Corporate travel employees are responsible for providing a valuable service to the organization’s travellers. This involves ensuring travel is both safe and productive. Corporate travellers need a smooth, efficient travel process in order to reach a company’s business objectives. And during times of national, corporate, or personal crisis, employees are crucial to reducing the risk to a company and its travelers through employee tracking and emergency assistance.

TESS360 can help your organization streamline you Travel and Expense management process. Our mobile app solution will take care of all your travel and reporting requirements plus our solution has the audit tools that are needed to ensure that your organization remains compliant. Imagine if you had these key features in the palm of your hand for when you really need to make a booking for a flight or hotel, your employees can process their travel authorization and expenses online or to get the reports that you need to manage your business!

TESS360 is easy to use, available 24 hours per day/7days per week, integrates to most accounting packages and offers many other features. Look at some of our exciting features that you will find in our mobile app:

  • Manage all Travel activities in one App
  • Obtain your boarding or seating pass direct to your phone or tablet
  • Recording all travel expenses
  • Track your car mileage
  • And so many more features and benefits

Our pricing plans are simple and affordable. Contact our team today for a demonstration and let us show you how TESS360 will help your business.