Travel expenses softwares

Travel expense software is a critical tool for Travel Expense Management – providing an online environment to manage and streamline an organization’s processes and the effort required to submit and approve travel expenses incurred during business travel.

 

The benefits of travel expense software fall into two categories:

  • Cost control:
    • Travel expense software is configured to reflect an organization’s travel policy; out-of-policy claims are reduced because they are immediately highlighted to travelers and approvers
    • The online environment allows travel and expense managers to configure reports to analyze spend, so that they can amend and enforce policy accordingly
    • Travel expense software records and calculates tax (eg VAT), facilitating reclaim if cost-effective
  • Productivity gains:
    • Travel expense software is easier to use than offline or spreadsheet-based systems, so travelers save time. For instance, credit card expenditures can be directly imported to an expense claim, reducing the need for manual data entry and any resulting mistakes
    • Errors are checked during the claim submission process, which reduces administrative effort downstream
    • Travel expense software creates the reports required to meet an organization’s fiscal accounting obligations, saving time and effort for the finance department

 

Travel expense software can be hosted by the software provider and sold via a software as a service (SaaS) model, or hosted behind the client’s firewall. In either case, the travel expense software will need to link to the client’s accounting and reimbursement systems.

Increasingly, travel expense software is enabled for mobile devices so that data (e.g., photos of travel expense receipts incurred during business travel) can be captured during a trip – while the information is fresh – further reducing instances of claim errors.

 

Learn about expense management solutions from KDS.