As the world opens to travel once again and enterprises go global, employees are once again traveling for business. Keeping a track of corporate travelers and managing the organizational expenses is a crucial and tedious job. It requires elaborate documentation, filing, reporting, compliance, and reconciliations. Left unchecked, business expenses can quickly grow out of hand and dig into company funds, while causing much confusion for the corporate traveler.
Today’s business travel management solutions free you of your expense tracking woos and speed up your approval and reconciliation process. If you are considering an online travel and expense software, but do not know where to start, this blog will help you identify key features you need to get the most out of the solution.
Corporate travel management solution
A travel expense management software is a modular, customizable HR solution that offers dedicated modules for enterprises to effectively manage expenses and reimbursements for the employee and the organization. A travel and expense software automates expense reporting, making it easier to track, manage, and reimburse your employees’ business expenses. Corporate travel management solutions also eliminate human error in your reporting and reimbursement processes.
If you want to streamline your expense processes, the travel expense management software characteristics mentioned here are essential to extract the most out of any system.
Features to look for in an expense management software
Although the travel expense management software features you need will depend on your unique business needs, however, there are a few key elements essential to any quality business travel expense software. You must consider these characteristics to ensure that you choose a solution that brings value to your business.
- Simplified and intuitive dashboard
A dashboard gives you a detailed insight into your expense tracking and reporting processes, breaking down the various components into easily digestible information. - Powerful Workflow Platform on a mobile application
Unified platform for employees and managers to be able to collate tasks together. Look for travel management solutions with a user-friendly app that your employees can easily navigate. - Digital Receipt Submissions
It can be difficult to keep track of paper receipts, especially when traveling. A business travel expense software that uses Optical Character Recognition (OCR) technology to record expenses and submit receipts can make it easy to file expenses online. - Mileage Tracker
Consider travel expense management software with built-in mileage trackers, where the software automatically calculates the mileage and resulting reimbursement amount based on the start and end points of the employee travel. - Real-time reporting and analytics
A corporate travel management software helps you analyse your data so you can make strategic decisions based on travel spending and avoid unnecessary expenses. - Seamless HRMS integration
A business travel expense software comes as a standalone or as an integration with an HRMS solution It is seamlessly integrated with HRMS, approved expenses are automatically captured in payroll and reimbursed accordingly.
TESS360 is the best business travel expense software that helps you streamline your entire expense tracking system and ensures employees submit policy complaint expense reports. TESS360 is designed to always keep your business ahead. With our travel expense software, the entire information of each business trip can be sorted, retrieved, and checked at any time. Hence, you can identify cost developments in good time and make well-founded decisions.
Consider the features of TESS360:
- Easily book your trip with our travel integrations
- Well-defined templates for raising travel requests and approvals
- Better travel spend management with automated approval & control
- Quick reimbursements of travel expenses with automated control
- Scan expense receipts with OCR to file claims
- Real time management of the entire travel process
- Configure travel policies for different roles in the organization
