Corporate travel spending patterns are often a topic of concern for business owners when trying to keep costs down and profits growing. All business expenses can be accounted for with modern accounting and bookkeeping systems, but when it comes to travel, often some of the expenses are overlooked as it is hard to track exactly what lump sums and booking fees are spent where, particularly when considering across border transaction across various travel agents.
While the demand for better travel management systems has been around for years amongst corporate companies, leading travel management software companies, Amadeus and Fraxion have collaborated to create a complete travel expense management solution called TraveluXion.
This cutting edge software makes it possible to track travel spending patterns within the company which makes it further possible to curb unnecessary expenditure and ensure trips that are not a necessity are not authorised.
How does TraveluXion track travel costs?
- The system requires a “travel request” to be submitted when a staff member would like to travel. The intended trip details and reasons for travel will be included in this request.
- Once management has received notification via email of the request, they can approve or deny the initial request within the application.
- The system can then provide a quotation on the costs involved that are requested from the company.
- Management and financial departments can then advise if it is approved or not. Only these expenses will be covered. Details of each payment will be recorded for future reference.
- Any changes made to bookings will also be handled through the system and recorded.
By managing everything through the TraveluXion system each and every expense can be accounted for which makes it easier for the financial department to track costs and see where the company revenue is actually going.
If you want to eliminate extra travel expenses and curb on unnecessary expenditure, TraveluXion is the business travel expense management solution for you.