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Expense Management Automation & Why it’s Important

Posted by on Jul 11, 2017 in Business Expense Management, Travel Spend Management | 0 comments

This month our digital media strategy focusses on Expense Management automation and covers many different facets throughout the month. Today’s blog focusses on the fact that according to an Aberdeen survey conducted in 2012, over 80% of companies globally for the last 4 years recognise that T&E Expense Management is no longer a back office function or responsibility due to the strategic nature of the spend and the dire need to track behaviour and spending, however, very few companies have actually made inroads into driving automation and most rely on the third parties involved in T&E, to assist with automation! We decided to highlight just a few reasons why automation is essential and why it needs to be driven and owned by the company concerned, we trust that you will find the blog informative and we are always available for comment or suggestions. I believe that all too often when Companies consider T&E, they focus on the actual request and the booking thereof, subsequently focus tends to wan when it comes to expense claims and the processes attached to the submission of expense claims. Fraud occurs in expense claims in two major areas,namely: Submitting a fictitious claim; Charging for items that were actually personal in nature – hotel bills Billing for travel that never occurred i.e. cancelled airline tickets, seminars or events Seeking reimbursement for items that were never purchased i.e. gifts for clients Collusion amongst employees who both claim mileage when it was actually in a shared vehicle Outright falsifying or manipulation of receipts – taxi’s etc. Inflating business expenses; Claiming for meals in excess of policy or for items not reimbursable under policy i.e. alcohol, sports tickets. Adding tips to meals when tips are already included Adding tips to reimbursements that were greater than the tip given Flying in higher yielding airline classes when lower classes were infact available Using inflated mileage totals when seeking automotive travel reimbursements The above may seem menial, but it is a definite reality. Some companies report that 14% of all fraud occurs in just this area alone! This should be reason enough to ensure that your T&E processes are automated, to ensure that your company funds are...

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How TraveluXion can combat “Traveller Friction”

Posted by on May 11, 2017 in Business Expense Management, Travel Spend Management | 0 comments

Trending in 2017 is “Traveller Friction”, this trend is overtaking the importance of understanding the total cost of travel, which is one of the benefits of an expense management system. What does this mean exactly? Scott Gillespie from tClara is quoted as saying “Frequent business travellers will realise that friction means the wear and tear on the traveller and the resulting cost, not only to the traveller but also to the company, as a result of that traveller having to travel for business.” It manifests as potential bouts of jet lag, red eyes and late-night return flights. The cause, staying away from family and eating bad sandwiches on the run, it can even lead to illness and unproductivity caused by stress or lack of sleep. He also goes on to say that expense management solutions cannot account for this equation. TraveluXion however was purpose designed to offer independence to Corporations and to offer best in class on-demand reporting to highlight and extrapolate such equations as part of an organisations’ Duty of Care. Tips on how to minimise this ‘wear and tear’ on the business traveller, and, as a result, reduce travel costs: 1 – Budget owners must set traveller-related goals for example consider reducing work days lost by business travellers on the road by 5% or improve staff retention by 10%. 2 – Procurement and human resources should agree on a measure for tracking costs of traveller wear and tear. 3 – The travel manager should provide travel strategy plans that link to traveller-related goals for example improving expense reimbursement processes, providing en-route booking support and offering trip hardship allowances. 4 – These goals should be monitored, the total travel costs assessed and travel strategies adjusted...

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The sharing economy and the impact it has on Business Travel

Posted by on Mar 28, 2017 in Corporate Travel | 0 comments

We all understand and realise the impact technology has had on travel in general, specifically in a leisure space. Naturally, individuals that travel on behalf of their company expect to enjoy the same ease when securing trips on behalf of their company. They challenge the traditional booking mechanisms currently in place to secure trips. This is a progressive mindset and the rationale cannot be questioned, however, the balance of allowing this “open-policy” approach is often the greatest challenge for corporations as they need to protect themselves from a host of issues that could arise, ranging from abuse, fraud, neglect and potentially litigation when it comes to Health and Safety of travellers, this just to name a few. TraveluXion understands this challenge all too well and has built solutions to cater for this. Enter the sharing economy with Accommodation provider AIRBNB leading the way, a business which is valued at USD10 billion, needless to say, is thriving and again challenging the traditions. It definitely faces legislative issues around tax avoidance and zoning in many cities, but for now, it is a serious game changer. A game changer in the car sharing industry is naturally UBER, one either loves them or loathes them, but this does not negate the fact that they have been a game changer and whilst their future or tenure is uncertain, they definitely are making an impact! It is not surprising then that Information Technology enjoys the highest impact of the sharing economy and here is where it becomes interesting in that Business Travel and Leisure Travel were in the past an industry serviced by the Service Industry, however, the most effective way to manage Business Travel now is through the Information Technology Industry. Many are skeptical of the impact of the sharing economy beyond Information Technology, but Forbes is quoted that revenue flow through the sharing economy is estimated at surpassing USD3.5 billion directly back into people’s wallets. I believe it would be wise then for all Corporations to seek Business Travel Solutions that drive savings and innovation from Technology Providers. TraveluXion is technology that is specifically geared towards managing the lifecycle of Business Travel Spend and embraces open policy as well managed spend. Email [email protected] to see how we can assist you in driving innovation and savings through this particular Economic climate! Shirley Le Roux – Concept Founder –...

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Company policies with business travel are not a problem with TraveluXion

Posted by on Feb 10, 2017 in Corporate Travel Automation Software, Innovative Solution | 0 comments

With the array of Travel Apps infiltrating social media and the offering of travel specials on the internet, companies will continue to have a tough time offering travellers the freedom to embrace technology whilst adhering to company policies and procedures. Listed companies and corporates that see the benefit in applying protocol can expect travellers to pose the argument that they can find travel cheaper online. What will become important to corporations? How will price, group of car and the hotel category weigh up against saving company money whilst allowing travellers ‘perks’ if achieved at a lower rate. Whatever decided, TraveluXion can enforce Travel Policies and or cost parameters, whilst still providing the company with the necessary controls, as un-managed and managed spend is tracked in our application. We can also accommodate the use of multiple travel agencies or booking channels. The system is flexible enough and incredibly robust to follow the parameters each individual company wishes to apply. Shirley Le Roux – General Manager,...

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Our Latest Technology Innovations

Posted by on Jan 17, 2017 in Innovative Solution | 0 comments

TraveluXion’s R & D team pride itself on constantly evaluating the impact our application has on its users. The more customers we engage with, the more we listen and the more we innovate. The Approvers in the T&E cycle no longer have to access the application to generate approvals. Our system dynamically returns all information pertaining to the Request, as well as available budget information directly to the required Approvers in a secure email format. The Approvers can approve on e-mail making use of any mobile device.   Whilst our Travel Request creation template only takes a mere 33 seconds to create, we understand that busy travellers don’t want to be fussed with change management. Our latest innovation merely requires the traveller to send an email with a specific subject header; our application dynamically populates information in the background and generates the Request for approval. What this means for organisations is that we have reduced the UI without compromising on functionality and still delivering an application that safeguards companies against T&E abuse and potential fraud. Shirley Le Roux – General Manager,...

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