Why Travel Expense Management for an Enterprise?
Travel expense management for an Enterprise
Every organization large or small has professionals travelling on business. It involves business development, project implementation, support and maintenance. The list is in fact endless in today’s demanding business scenario. Each travel process goes through multilevel verification and approval for both request and claim. When this is done using the age old method of paper and pen the whole travel expense management process becomes nothing less than a nightmare. This tedious and cumbersome process even discourages the team to travel which in turn works bad for the business.
The best answer to this is the automated solution from Entoss Technologies. Pomfret TEM is an automated business process solution for travel expense management. The cloud based automation solution is the result of a detailed research on the entire business travel process and based on the best business practices of the industry.
“ Companies spend 10% or more of its annual budget on business travel expense management solution, but lacks visibility on the spend and compliance ”, Lacking overall ease of use, understandability and process set by the enterprise for the travel expense management solutions.
In today’s ever-changing world, organizations have a dire need to improve their TEM to eliminate manual and paper based processes, to reduce expense-processing costs, visibility-related issues, and the lack of control into the spending, and to ensure compliance. Below Fig.1 illustrates the drawbacks of a Travel Expense management that needs an improvement in the ease of use and visibility.
Entoss provides Pomfret TEM as a paperless reimbursement process to impart visibility into expense management policies, and procedures while reducing expense processing costs.
Simplified process Travel Expense Management
Displaying remote and real-time accessibility for the same purpose is Pomfret OnHand TEM ; For instance, When employee “ John Doe “ wants to record an expense, he can use the mobile app on his smartphone. Through that he can able to capture the bills, manage, and submit the claims for approval and reimbursement.
As Pomfret Travel expense management acts as an automated connection between TEM (Travel Expense Management) processes and the backend system. It enables John to book travel plans that are compliant and cost-efficient, gain approvals more quickly, and manage expenses without having to keep track of paper receipts or filling out spreadsheets. It also provides John’s manager full visibility into his travelling expenses. Also helps them determine deviant, over-budget, and other non-compliant spends.
TEM benefits for an enterprise
This becomes a one time solution – Pomfret OnHand has a Streamlined Travel Expenses Process. It provides total visibility of travel spending by departments, business units, regions, projects and other parameters. In addition to that it save’s time. Also give’s better experience for company travelers and all those involved in the whole process.
Best solution in reducing voluminous paperwork, turning out a space into a paperless office.
It is a total solution for any sectors in the enterprise. By reducing the amount of data entry work leading to the overall growth of the company. Less data entry, benefit the other levels of work to be done faster with on time progress.
With Less data entry, Paperless office, Complete visibility on travel expenses, Pomfret OnHand and becomes one best solution for all your travel expense needs.
Apart from travel expense management, incoming and outgoing cash flow enables any business sector to fare better in downturns. It allows to reduce and avoid the costs of financial distress which stays a vital importance to businesses. Not for just business growth and success, but for serving their customers better in the long run.