Managing the travel and the businesses expenses of your employees could easily help you improve the productivity and management visibility of all your employees into the expenses in a timely manner. Given below are some of the ideas and strategies that would help you managing the travel and business expenses of the employees working in your organization. The idea here is to just submit, get the approval and reimbursement.
Gathering information that is necessary: It’s always good when you just ask for the necessary and the other required details. Some organizations ask employees to submit through the entire expense management reports. Such reports are not just difficult to handle but also to process. In short it’s just a waste of time. On the other hand when it comes to expense management report organizations generally do not except the reports with details that just have the date and time. Gathering the name, amount date, and the picture of the receipt for the expense made is a good balance. Doing this you could speed up the entire process of submitting the expense management reports avoiding delays, down the road due to the some kind of potential noncompliance issues.
Educate your travelers on two major aspects: There are two major aspects that the employees of a specific organization need to be educated on. One is when they need to understand how the choices made by them would the organizations travel choice, and second educating your travelers towards expense management system. So work with your travelers and the travel agency in order to use the most cost effective means of transportation whenever possible. Having a traveler work in the airport could save hundred dollars on some days. So do not forget to provide appropriate training for both the expense reporting application and your internal travel expense policies assuring that your users provide appropriate back up when needed and they are not frustrated with surprise limitations.
Work flow rules and regulations: It does become important that you claim all your expenses based on the expense type, the project value etc. Have your system configured so that each and every claim is escalated to the senior manager once certain limits and the rule breaches have been triggered. Try and have the project manager introduced or say the budget holder approval for all the certain types of expenditure related to your business organization.
Having the managers involved in the entire process: A good process is one that is not just simple but yet robust. Generally you need to be avoiding adding the top layers of control and bureaucracy. Managers are enough to check and approve the expense management reports. However he or she does not have to be shy in order to push back something if it does not adhere to the policy of the organization.
Pay up as quickly as possible: Nothing apart from this could turn out to be so demoralizing than waiting for unreasonable period of time being reimbursed. Business expenses are there because the employees here are taking actions helping the businesses grow. You would here certainly not want them to delay the business trip or not invite that potential client as they are scared to be reimbursed swiftly. Studies have shown that payments here should not take much time not more than a week or two, and should go directly to the bank account of the concerned person. Remember prompt payment would here not just improve your more but even the productivity.
To conclude do make sure that each and every employee of your organization here has a clear and better understanding of all policies in understanding. Also make sure that you have things explained in detail resolving the questions that they all have in their minds. With expense management software it does become hard enough to deny the expenses done in the name of the organization, as they are generally believed to be the real company costs. Employees who follow the above mentioned ideas and strategies from the beginning would not have any sort of a difficulty in managing the business and the travel expenses of the employees in your organization.
Melissa Patterson is a freelancer and has experience of over 5 years in expense and travel management software. She has in-depth knowledge about managing travel and different type of expenses incurred in business. She writes about Travel Expense Management as a freelancer.