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Eight ways travel expense management consultants benefit your business

Posted by on Dec 28, 2015 in Travel & Expense Management Consultancy | 0 comments

Managing corporate travel can be time consuming and the travel spend can easily get out of control if your business does not have good systems in place. Although big corporates have entire teams, or departments of people, dedicated to making travel arrangements, getting approval and conducting recons for reimbursements, there can still be errors and delays in reporting. Using travel procurement software is a great way to consolidate your travel programme which can save your business a lot of time and money. If your company does not have the expertise or knowledge to formulate and manage business travel, it may be a good idea to consult with a company like TraveluXion, who can guide you in your formulation of travel policy, risk management or management of travel spend. There are many advantages to using the services of expense management experts, such as: Helping you get a handle on the rising costs of your business travel programme. Consolidating all the important information around business travel and the reporting post-trip. Balancing the unique requirements of your business to achieve cost control. Demystifying all the products and services available in the travel and expense space. Helping to eliminate your paper requisition process and replacing it with a more robust solution. Assisting you with the structure for proposals or tenders for T&E services. Reducing the amount of time you spend on travel administration. Helping you understand the best practices and offering you expert independent opinion. Effective and easy-to-use travel management spend products and services from TraveluXion TraveluXion are the industry leaders in procurement spend management software. Their software and consulting services offer the best in travel management controls and they understand the needs of your corporation. A key part of their sales cycle is to assist and refine the business processes around the procurement of all business travel related expenditure. They really understand the industry and would love to simplify your corporate travel management. Contact them to find out more about how their solutions can transform your...

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What is travel risk management?

Posted by on Dec 21, 2015 in Corporate Travel, Travel Spend Management | 0 comments

To people outside of the world of corporate travel, risk management can bring to mind extreme images of earthquakes, tsunamis, riots and bombings. While this does form part of travel risk management, the more conventional understanding of the term is about the risks a company faces when their employees travel. A corporate conducting business in other areas of their own country, or internationally, has to ensure they think of every risk possible, both to the employee doing the travelling and the company itself, in terms of liability and reputation. When looking at the safety and security of the traveller, one has to consider the destination, is it in any kind of political turmoil with potential terrorist activity, including kidnappings or hostage situations? Does the destination have any current health risks, such as an outbreak of Ebola, malaria, yellow fever? Are inoculations needed prior to travel? When it comes to a company’s reputation, it’s important for the employee to know they are the face of the company when travelling, so they have to conduct themselves accordingly. Misuse of travel expenses or illegal activities conducted will damage a company’s reputation considerably. There are many other risks, such as the loss of company equipment or information, or the employees’ personal effects. Legal risks are another aspect to be taken into consideration – failure to comply with tax or immigration requirements and attempts to bribe officials are just the tip of iceberg. There are four elements to be used when planning your corporate travel risk policy: Assign management responsibility: travel risk management involves a team effort from every department, including HR, security and medical. Aspects unavailable internally should be outsourced, such as specialist travel security providers, medical assistance or travel management companies. Determine the types of risks: create a list specific to your organisation. Assess the risk exposure: identify how effectively your organisation will be able to manage risks – this may involve a specialist advisor. Mitigate or manage: the means to managing and mitigating travel risks include education, tools, reporting and third-party services. TraveluXion offers professional consultancy services for travel procurement With years of experience, the team at TraveluXion can help you formulate your corporate risk management policy. They have specially designed travel expense management software which provides organisations with an easy-to-use travel spend management tool which will transform the way your company organises travel arrangements. Contact them today to see how they can assist your company...

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Simplifying your travel expense reimbursements

Posted by on Dec 14, 2015 in Travel & Expense Management Consultancy | 0 comments

Organising travel arrangements for employees needing to conduct business in other areas, whether domestic or international, is no quick task. It starts with searching for flights, at the right price, at the right time and then checking availability. Then there’s accommodation, transfers, travel allowances and the myriad of other details that go into booking a corporate trip. On top of it all, once you have the costs, you might still need to get approval and have the expenses signed off by senior management, which can also be time-consuming and complicated. Once it’s all approved, booked and the travel underway you breathe a sigh of relief, only to be faced with a mountain of slips in foreign currency when the traveller returns. It’s an unfortunate reality that fraudulent use of travel allowances occurs, especially in bigger corporates where the offender may think he won’t be caught if he upgrades to a better suite in the hotel, or takes a bunch of friends out for dinner and picks up the tab. Keeping track of all the expenditure and working out how much to reimburse can be a nightmare which takes up significant time in your day that could be spent more productively. The travel expense management software from TraveluXion has been designed with you in mind Our expense management solution captures the entire trip costs, from initial quotation, costs escalations and expense claims for true end-to-end reporting. This allows companies to track and measure their direct and indirect travel expenditure with their own travel technology, while providing a convergence of data, real time reporting and visibility. TraveluXion is business travel procurement simplified. The advantages of using corporate travel software are numerous When you start to look at the many ways travel expense software can benefit your business, it really makes sense to get it now. All the processes are simplified – from shorter expense approval cycles, to improved compliance and reduced labour costs. The online booking technology with Amadeus reduces the time spent trawling the internet for cheap flights, while the real time reporting is a bonus few companies could ignore. Why don’t you contact TraveluXion today to find out how their travel and expense management systems can benefit your company? In addition, they offer a consulting service, should your company need expert advice from industry experts, on any aspect of corporate travel...

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The top six risk management considerations for corporations

Posted by on Dec 7, 2015 in Corporate Travel Automation Software | 0 comments

When it comes to corporate travel, risk management is a very important part of corporate governance. There are a number of considerations that need to be reviewed on an ongoing basis, to ensure your company’s risks are kept to a minimum. While there are many aspects of business travel to analyse, here are the top six you should be reviewing: Risk to personnel: Example: Employees travelling to high risk countries, whether it be for political reasons (civil wars, bomb attacks), or health (Ebola outbreaks, malaria) and safety (fatigue through over-travel) reasons. It is vital to ensure the travel insurance covers security and health concerns. Risk to reputation: A company can be criticised very publicly if their carbon footprint is too high, or if their employees contract a disease due to the failure to inoculate prior to travel. Misuse of travel allowances or unethical conduct by employees can also be very damaging. Risk to data/equipment: Data carried or collected by employees could be stolen (laptops), or other specialised equipment could be lost or damaged. Legal risk: Companies need to ensure their travel compliance policy is up to date and covers every area, such as tracking employee travel to high risk areas, ensuring that foreign tax laws are complied with, or having plans in place if any illegal activity should be conducted by travellers. Financial risk: Misuse of travel expenses and allowances remains a constant problem with corporate travel. Unauthorised upgrades on flights, or in hotels, or non-related expenses being claimed post-trip are examples of common internal fraud activity. It is extremely important to track all expenses and conduct audits regularly so travel expenditure is accurate for reporting. Risk to productivity/trip effectiveness: If baggage, equipment or personal items are mislaid en route, productivity can be lost, or important meetings missed. Mobile phones may not function properly in other countries, or a failure to meet immigration requirements can all delay travellers, which could have a negative effect on the business they are there to conduct. Reduce a lot of these risks by using travel management software A well designed travel expense software package can significantly reduce the risks a company faces when their employees travel for work purposes. TraveluXion, an industry leader in the T&E space, have purpose-built procurement management software that can assist in travel spend management, online booking, expense management and financial controls. Part of their sales cycle involves assisting companies with their processes around the procurement of all business related travel expenditure, as well as identifying and correcting risks to the company. If you have a need to take control of your corporate travel spend, contact TraveluXion today to find out how they can...

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