End-to-end solutions: the key to agile business travel
Could end-to-end technology solutions be the future of business travel when it comes to managing reservations, payments, contingencies or automatic data returns? During these challenging times, these solutions offer countless advantages.
Whilst the need for simplicity and flexibility is transforming business travel, consolidated management tools dealing with both Travel and Expense components seem to be the most attractive breakthrough innovations.
Typically with this type of end-to-end travel and expense tool, the end user is invited to fill in their profile using a number of different documents, such as their car registration document or their corporate card. After making the reservation, a validation step will then allow them to enter expense reports. Business card expenses are imported into the client company’s accounting tools, as well as all other expense lines. This can then be checked directly within the tool. Certified PDF files containing expense reports and associated receipts are then generated. Throughout the process, the generated report will not only integrate travel data but also any associated costs. The Travel and Expense sections are integrated within the same tool.
A consolidated solution of this type is also an interesting way to reduce non-compliant activities such as open booking, thus improving compliance with the companies travel policy. Other advantages include better visibility of actual total costs, process optimisation, a paperless system, and better compliance due to the reliable monitoring of employees on the go. Another positive is increased passenger satisfaction due to the time saved in completing the expense process and receiving the reimbursement of expenses.
These systems also include a fully automated expense report management solution. A simple photo of an invoice for a restaurant meal ensures that the expense is automatically integrated into the company’s accounting tool, without the need for further input. Note that in 2018, Traveldoo launched a new version of its mobile expense management application, with the aim of simplifying the reimbursement process of professional expenses using an intuitive smartphone solution. In addition to the benefits of advanced transaction automation, features also include multi-currency management, geolocation and OCR technology, the ability to capture expenses by photo.
The possibilities for the evolution of this type of solution are also very attractive, as the platform is capable of incorporating data from a number of different partners. The aim is to facilitate operations for expenses relating to taxis or, for example, VAT recovery. This function is particularly important, as it can be complex when travelling to a foreign country.