Ram Tumuluri “Corporate Travel Expense Management Is Shaping Up To Be Big Business in 2020 “
Travel expenses are one of the highest operating expenses in many companies, and also one of the hardest to control. Yet many companies fail to invest in streamlining their travel and expense management. According to the Global Business Travel Association, business travel spending grew globally to $305 billion in 2018 from $292 billion in 2017 and grew by another 3.1% in 2019. In this article we will take a closer look at this growing trend and the T&E companies that are helping the world’s largest companies manage their travel expenses.
Ram Tumuluri – “Companies can save both time and money with effective T&E management when they invest in resources to modernize their travel and expense processes”
In this article
The trend in travel and expense (T&E) management
Top expense management software
The trend in travel and expense (T&E) management
When companies put resources into modernizing their travel and expense processes, they can significantly mitigate expense report processing costs, mitigate risk exposures and improve overall employee productivity. Technology is the key to identifying areas in T&E management that need improvement. Technology immaturity seems to be an inherent barrier to effective T&E management in many organizations. Many organizations fail to understand the challenges they face in effective T&E management and a large number of companies continue to rely on manual processes and an overall lack of automation. This is where T&E management companies can help them out with travel and expense management technology solutions.
Top expense management software
SAP Concur
Companies count on SAP Concur to manage their spend management processes together in one integrated solution, from system implementation to submitting expense reports, with user-friendly tools.
Certify
Organizations of all sizes rely on Certify to deliver superior travel and expense management solutions such as mobile receipt capture, automated expense report creation and streamlined workflow.
Chrome River
Chrome River Technologies is an American software company that produces expense reporting and supplier invoice automation software with all the modern mobile features. Their customers include fast-growth, mid-sized and large enterprises.
Coupa
Coupa uses internet-based tools to help businesses manage their procurement, invoicing, and expense tracking across categories. According to Rob Bernshteyn, the chairman and CEO of Coupa, “Coupa helps companies spend smarter by giving them visibility and control over their business spend,”
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