Let’s get to grips with invoices
I’ll always remember the bemused look on the face of a financial manager of a large French company who was put in charge of a programme to optimise expenses.
His company had just taken a very important step and deployed an online booking system in record time, very quickly achieving an adoption rate of over 80%, which had been unimaginable just a few months earlier. The outlook was initially very rosy, with all travel approved, happy users and a group-level solution put in place. A presentation meeting was held with all the partners and got off to a flying start; “so far, so good”… until the last minute, when someone innocently asked: “How are invoices checked?” Blank stares. The partners looked around the room as an awkward silence descended.
The project teams had concentrated, successfully, on securing and optimising the order process, strengthening preliminary checks and implementing centralised invoicing. But they hadn’t made any allowance for checking that invoices matched up with orders. In our industry, travel procurement, this is very common, particularly because corporate financial IT systems (e.g. ERP) are generally not suited to dealing with the nuances of travel procurement. Even so, invoice flow automation solutions offered by centralised payment providers and TMCs do not guarantee that invoices will match up.
Every mismatch reveals how the process is far from perfect. Some are genuine mismatches that can be put down to the complexity of a procurement process in which prices fluctuate, while other issues need to be scrutinised and rectified, such as booked prices that differ from stated prices, orders issued but not validated, unwarranted administrative fees, missing or incorrect cost accounting details, and so on.
To address this problem, Traveldoo has introduced Traveldoo Invoice, which makes it possible to reconcile the invoices issued by each service provider (travel agency, hotel reservation provider, etc.) and the orders validated by the company. With their intimate understanding of the distribution chain, Traveldoo’s teams help companies get to grips with controlling orders and invoices.