Every month, corporate travel for companies generates a lot of headaches and stress for finance leaders and their staff, as they have to deal with a multitude of invoices for accommodation and transportation bookings for all of a company's business travelers, sometimes making it difficult to obtain some of these travel invoices.
The information of these trips and the reports are usually chaotic, besides obtaining all the receipts and invoices of the different representation expenses such as meals, cabs... of all the travelers is a tedious task to account for.
For SMEs, large companies and multinationals, this means multiplying the large amount of invoices for corporate travel and representation expenses, these and other manual tasks of the department are very time-consuming and end up costing companies a lot of money.
The mission of today's financial leaders is to lead the company to success, not only from a budgetary point of view, but also strategically, being in charge of managing and controlling data to analyze and improve it, reducing costs.
To achieve these improvements in a company's financial processes and protocols, the department has allied itself with technology, thus managing not to waste too much time in generating data, since the automation of processes leads to greater productivity, saving time and money.
This automation in business travel is achieved among others with corporate travel booking management platforms such as Vyootrip, with its TRM (travel relationship manager) offering all the necessary information in a simple way to help make cost-saving decisions. It also helps the financial department to perform a budget analysis in terms of travel of the company much faster and agile, having control of travel expenses and obtaining all the necessary data to optimize travel expenses in real time reports.
By streamlining processes, replacing manual expense reports and internal databases with digitalization, it will be easier to obtain real-time reports on how a company's employees are traveling, thus gaining greater control over travel budget spending, as well as helping more easily to make cost-saving decisions. In this way, we reduce the time spent on processing and analyzing expenses, in addition to obtaining a single monthly invoice for the total number of reservations made each month.
Moving towards digitalization through management software is the only way to continue in the most unstable market of recent times. Finance department managers can count on a collaborative and informative management environment in real time.
Author: Rosa Molina Chica
