Get the maximum value out of your T&E solution
It’s not unusual to hear business people stating that they are not entirely satisfied with the efficiency of their T&E process. Most business people want to improve the management of their T&E process, to reduce costs or enhance visibility and control. Traditional processes can be time consuming and tedious.
In order to get the maximum value out of your T&E solution, consider these five key points.
Expect and plan for a great implementation. T&E programmes touch many areas of the organisation, so look for a provider that offers a consultative approach to implementation, in order to make recommendations tailored to the structure and culture of your organisation. Particularly important is the relation and transition between implementation and support, and how incentives are aligned using SLAs.
How to measure success? High adoption and hitting KPIs = a successful program. Agree and then track your KPIs from the outset, when you start the implementation process. A powerful and visually based business intelligence solution is essential for this. Just like driving a car, having the right instrumentation on your dashboard is going to help you get to where you want to go and achieve your objectives.
How important is an end-to-end? From a business perspective, selecting a provider that offers an end-to-end solution is key. Research published by the Aberdeen Group shows that companies that manage Travel and Expense as a single concern on a single platform generally do better against their KPIs. In contrast, not utilizing a unified solution can lead to a problematical and often disjointed process.
How is the UX? A great user experience is essential as it drives the adoption of the tool by employees … a key fact in its success. And the key to adoption is providing users with an easy and agreeable experience, where the navigation and customer journey is straight forward. Designing your T&E tool to reflect the consumer experience we all see in our home lives is a good approach here, to help maximise the adoption rates.
How mobile enabled is it? Avoid systems that encourage a policy of one claim per month, this strategy often creates a month-end bottleneck for finance and reduces the visibility into cash flow. The more mobile capable the system, the more it encourages users to submit reports throughout the month. The increased frequency of submission can lead to greater efficiency and enhanced visibility into cash flow.
Keeping these basics points top of mind is essential when making your T&E supplier selection. The industry, economy and technology continue to evolve around us, but the concerns around T&E will remain for the foreseeable future.