The purpose of “Create a Trip” request not only serves as an approval tool for employees to adhere to company policy, it also allows us to categorise and consolidate different trips and the respective expenses incurred.This allows you to separate different trip expenses for future analysis into your travel expenditure.
How An Automated Travel And Expenses Work
We all know that time is money and with a new tech advancement. This is excellent news for finance.
Less time spent on administrative work and more time focused on the things that will really drive your business.
One area where automation should be more than welcome is travel and expense management.
A task that typically feels tedious. A good travel and expense management can save your company money and feel intuitive when automated.
With EzBizTrip, your employee can start a new trip by creating a trip request. Let’s say they are searching for Singapore to Jakarta, Indonesia for five days in December.
EzBizTrip automatically uses your employees’ origin, destinations and trip dates to calculate an accurate trip budget based on real market rates.
If there’s an event happening during the time of their trip, the travel cost will be higher due to high demand, that will be counted on the budget.
If your company has set up a travel policy in the company settings, these factors will also be taken into consideration.
The budget that is shown on the platform is the average price of the cost of the total trip so they know how much they can spend while staying within policy. If the traveller selects a ticket within the average price, they are able to book and an expense will be automatically created.
During the business trip, the employee can use EzBizTrip to snap photos of their receipts on the go.
When the employee submits their expense report, the manager will receive a notification so that they know there is a report awaiting for their review and approval.
The manager can reject the expense report, sending it back to the employee to adjust any errors, or approve it, which routes the approve expense report to the finance team. From there, the finance team also has the option to reject the report, sending it back to the employee for adjustment, or approve it.
Employees can securely add their bank details to EzBizTrip to allow for expedited direct deposit reimbursement. Automating the process allows employees, managers, and the finance team to stay focused on the work that matters while keeping administrative tasks in order.
Developing Your Travel Policy
When it comes to planning your corporate travel policy, it’s necessary to bring together key stakeholders from your business. This should involve the finance team, human resources, executives, and of course, employees that represent your business on the road
Managing the team together can help to ensure that the policy not only represents your business objects, budgets, and safety but also studies the needs of your travellers.
Developing a corporate travel policy that lessens spend, has great compliance measures, and improves employee happiness is totally possible. Keep in mind that travel policies can be improved to meet the needs of your company.
If you have a corporate travel policy in place, don’t hesitate to review it annually and make changes.