The spread of globalization has transformed worldwide travel from a rare luxury into a frequent norm. T&E management is a major focus area for companies, especially in view of the recent economic downturn and increasingly strict regulation on corporate governance. T&E refers to the costs associated with traveling for the purpose of conducting business-related activities. Or, expenses incurred by an employee while he/she is traveling for work and/or entertaining a business client. Some T&E examples could be money spent on lodging, transportation, and meals. Entertainment expenses may include taking a client to dinner, to a theater show, or to a sporting event. Travel and entertainment expenses are usually tax-deductible. However, it is vitally important that the employee keep supporting documentation such as receipts, travel logs, etc. in order to claim the deduction.
Constant Baggage Claim
In the scramble of packing and planning, meetings and presentations, usually the employee-on-move has less time and focus on billing and expense mathematics. And for the employee who pretty much makes several sales calls within one location on a given day, the relevance of his/her productivity is more beneficial to his company, than time consuming travel proof submissions.
Between sanctioning and approving budgets, and claiming travel expenses, laborious paperwork, lost time can reduce overall productivity and burden the road warriors of an organization. Smarter time management is of the essence for a travelling employee and speedier approvals add value to their purpose.
The Wrinkle Free Travel Suite
Whether it is hours clocked in a day, or miles flown across a week, an automated Travel & Expense module, available round the clock is the answer to maximize productivity for workforce on the move.
PeopleWorks Travel & Expenses Module combines compliance and control with fast and easy processing of expenses. PeopleWorks offers a cloud based Human Capital Management product suite which drives sophisticated reporting control and analysis. Planning and booking can be done ahead of travel, and approvals are available instantly as per the policies. Built-in workflow and audit rules allow transparency for managers to speedily approve in-policy expenses. The Expense Pay feature reimburses employees directly to their bank account via payroll/payout, and all transactions are online and paper less.
From individual employee travel details to big picture trends, there is a scope of instant visibility into T&E spends. The Management can analyze where and for who spend is happening and hence determine the true cost of business. And major cost savings from reduced paperwork and administration are always accruable for your business.
Iron out the wrinkles from your Travel and Expense methodology. PeopleWorks’ robust and user friendly T & E model can help in cutting major costs on T&E processing if your organization currently outsources the T&E processing or uses a paid web based solution.
As Marcel Proust quotes “The real voyage of discovery consists not in seeking new landscapes, but in having new eyes.”