Are Travel Expenses Eating Up Budgets? Are You Sure?

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Many employees who travel to meet customers or manage projects will collect receipts along their journey and stash them in a folder until they return to the office.  After a week or two of travel, an employee could spend quite some time organizing the receipts by trip and customer.  You may not know whether budgets are blown until weeks after the fact.  Control your projects and budgets and get greater visibility into travel-related expenses by implementing a powerful expense management solution.

You promised customers that you would complete their projects on time and within the proposed budget.  It’s difficult to fulfill that promise when your team is submitting receipts days or weeks after incurring project-related expenses.  Equally important is living within corporate budgets, which are necessary for your business to remain in good fiscal health and profitable.  In order to make sure that your budgets aren’t being depleted faster than you can calculate expenses off an expense report, you may consider an upgrade in technology to streamline your travel and expense program.

Concur Expense can make it easier and more efficient to manage project or corporate expenses.  While your business travelers or field services teams are out of the office, they can use their smartphones or tablets to snap a photo of receipts as they collect them.  The receipts can then be attached to an expense report which can be reviewed and approved by project or departmental managers.  Credit card charges or cash expenditures can be uploaded or imported and associated with the proper expense report.  Real-time expense reporting can provide the control that your managers need to manage budgets as well as the opportunity to respond faster to expenditures, particularly unexpected spending or cost overruns.  An added convenience offered with this time-saving technology is the automatic payment feature that can reimburse expenses to the employee or vendor from your designated bank account.  No more late payment fees or unhappy employees waiting for their reimbursement checks.

If you aren’t sure whether travel or other expenses are eating up your budgets, then it may be time for a change in technology.  Contact Concur Technologies, Inc. to learn more about Concur Expense and how you can get ahead of spending before it’s too late.

By Concur Technologies, Inc., a Travel & Expense Solution Provider out of Washington

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