Expense Management Software: Hassle Free Corporate Travel Management

Expense Management Software: Hassle Free Corporate Travel Management

Organizations irrespective of its business and employee size needs to have a proper system in place for managing its expenses and the smooth functioning of its resources. Expense management system with its policies and procedures, technologies and services is deployed by organizations to process and pay employee-incurred expenses for travel and entertainment. However, as organizations become global entities, the expanse of the business network spreads beyond geographical boundaries making management of these expenses worldwide a difficult proposition. .
Nevertheless, with the global economic scenario looming large on the organizations to cut corners in its expenses, business travel expenses are also affected. In a globalized business environment with offices and branches spread worldwide, the multicultural multinational workforce has to be managed, organized and directed to meet organizational goals and objectives. Though technological innovations have paved way for a virtual interaction and communication with the workforce, it may not be as effective as the face-to-face interaction. Hence, cutting down on business travel expense on the part of key professionals may not always be a viable option.
Effective business travel management and spend analysis is a prerequisite to strategic sourcing. However, relying on manual processes will result in use of man-hours and increased transaction costs. Automation of this processes either through use of software implementation or through web-based on-demand applications from SaaS providers will pave for better management control and reduced transaction costs.
A number of service providers have designed and developed software for managing of business travel expense. However, the leaders in the industry have exploited the cloud computing technology and have designed software for digital management of the business travel expense and any other expense initiated by the employees and management worldwide. This cloud based business travel expense management software provides end-to-end visibility, control and enhanced spend analysis across the expenses in comparison to the traditional expense management software.
The cloud based corporate travel and expense management software with its various modules offers a number of benefits for the organization.  Through effective accounting, invoice handling, travel booking, cloud collaboration with banks, airlines, travel agents and hotels this is automation and optimization of travel expenses. Further, it greatly reduces travel and travel administration costs, provides improved control through compliance with tax regulations and laws prevalent in the region, real-time information of the value network, eliminates repetitive manual task and expedite the travel claim approvals thus paving way for a hassle free business travel

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Simplify Your Travel Expense Management Procedure

If your enterprise truly wants to reap in the benefits of a well managed corporate travel policy, then it should concentrate on one aspect more than anything else. That is compliance. Unfortunately, the explosion of Self Booking Tools might offer you a great amount of freedom of selection; it also renders the compliance more challenging. Almost any technology that assists increase in compliance to policy has got its merits. It will help you in securing your enterprise expense and get back the advantages of corporate travel.

Hence, what most companies require is a channel through which 100 percent of the organization’s corporate travel activity can pass. In this corporate sector, perhaps the only feasible channel is the payment mechanism. It is believed that getting remunerated is the definitive leveler. If you are making use of a corporate credit card as the payment mode, assisted by a travel expense management solutions as well as suppliers reporting back with a reasonable data level, you have a great scope to support the compliance objective.

A compliance friendly travel expense management solution that processes card transaction and other electronic payment process needs the traveler to justify personally all the deviations from the policy to their supervisor. This is to be done on a transaction by transaction basis. However, keeping in mind the various requirements, today eminent service providers have come up with travel expense management solutions that assists you in all your goals, whether they be to lessen the direct travel expenses, assure that the internal policies and rules are followed, speed up an individuals travel administration, or to attain a better spend analysis. This solution is a quantum leap from what were offered previously by the conventional expense management solutions.

These solution use the Cloud Process, by the way of which your business attains continuous visibility and you are able to mange the business travel expenses. The solutions come with an innovative order management system and other best practices for invoice and account handling, easy to use interfaces, travel profile management, travel booking, and many others. At the same time there is a business process network of preconnected groups that comprises of banks, travel account providers, credit card companies, international booking systems, travel agents, hotel websites, rail organizations, taxi enterprises and car rental organizations. Some of the benefits of this solution are:-

·         Minimized Costs
·         Better  Control
·         Minimized Lead times
·         Enhanced Customer Satisfaction
·         Simplicity of Operation

Thus we see that the modern day travel expense management solution using the Cloud Process is a complete control, optimization and automation of your travel spend analysis.


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After Sales Service - Benefits of After Sales Cloud Processes

Numerous sales staff’s are not able to comprehend the immediate ROI that might accrue to an organization through a sound after sale service.  Most employers are of opinion that post the sales procedures and commissions spent, any further time contributed to a customer or client is a waste of valuable time. They think that the sales staff is not gaining remuneration to retain a customer. However, effective after sales follow ups lead to grater profits and revenues.
Market analysts’ harps on the significance of an efficient after sales service process at work.  As a sales staff is following up with client(s), he is delivering more value than the client has paid for.  This very aspect would result in increased referrals, word of mouth promotion, greater business, and sales. Business consultants suggest three important steps:-
• Continue selling
• Work up to playing a chief role when a customer/client meets any issue with account management
• Try to be accessible 24x7 for customer inquiries
Concisely, after sales service refers to running and organizing the products after selling them and dealing with client behavior.  Today, numerous organizations have come up with after sales service solutions by using cloud processes.  They render users a competitive advantage. As a result, your company would own a greater market share. Other benefits include reduced after-sales related overheads on products and services and better customer retention.  Ten essential components of after sales cloud process are:-
• Master data management
• Business process network
• Business process rules and business process management
• Cloud process systems dedicated to end-user members
• Performance management
• Cloud process hosting
• Cloud process customization
• Process improvement services
• Information management and monitoring
• Third party best-of-breed cloud brokering
In addition to that, there are certain advantages that a company would witness from after sales solutions using cloud processes. They are-
• Approximately 68 percent of returns are free of technical faults
• Lead time minimized by 20 to 50 percent
• Improved customer satisfaction
• Cost reduction of 10 to 50 percent
• Improved control
In the recent times, the market scenario is competitive where each brand or organization wants to make great profits and leave a mark. A sound after sales service procedure guarantees increased sales returns as well as greater customer maintenance.

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Importance of Cloud based Supply Chain Management Solutions

Supply chain management solutions are of great significance to every business organizations today. The two important aspects of revenue recognition are availability of products and sound market coverage. Both these aspects are dependent on sound implementation of the supply chain strategy. Simply put, as soon as a new product is advertised and launched in the market, all sales counters need to have it for customers to purchase. Any delivery bottlenecks that hinder the product delivery will make the customer loose demand and interest on that particular product that might in turn lead to low revenue. Transportation network management and design thus are of great significance to marketing strategy and supporting sales. 

Two other important elements of supply chain management solutions are inventory visibility and inventory control. In any operations, these two elements are considered as cost drivers and have an effect on bottom lines included in the balance sheet. To any organization inventory is synonymous to value and is an asset. Every organization has its own criteria for inventory turnaround. It refers to how many times the same have been replaced and sold within a year.  Hence, the inventory health is indicative of the business health and condition.

Speaking of a global business scenario sometimes completed goods inventories are stopped at various distribution centers and locations, and are organized by third parties. There are cases when they are also held up in pipeline transportation rather than retail stocking points.  Owing to the fact that, any kind of inventory loss is synonymous to value loss, a sound control of inventory and visibility is an important aspect of the supply chain management function. 

Today, service providers of supply chain management solutions use Cloud process for effective results. These cloud based solutions help various kinds of companies, for instance manufacturing, distribution, consumer good, transportation, third party logistics and retail to enhance and attain real-time authority on the supply chain. It works in the following three steps or approaches:-

• Streamline – Helps in setting up a supply chain with transparent quantifiable processes.
• Focus – Helps in recognizing and concentrating on the concerns that requires attention.
• Improve- Helps in making apt business decision that in turn optimizes and improves the supply chain process.

Supply chain management solutions with Cloud processes offers web-enabled visibility that covers up every supply chain customers and members to provide higher customer value and minimized cost.  

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