Your company is fully remote, full-time back office, or a mix of both; If you’re a finance leader managing business travel expenses for your organization, you know how important it is to have easy-to-manage processes to track your expenses. Especially since the demand for corporate travel is growing and is predicted to continue to grow across the board.
Keeping track of employee business travel and expense reports is no easy task. Depending on how you currently book your business travel, whether it’s through a traditional travel agency or booking flights and hotels on consumer websites, your finance team will be well aware of the struggle of tracking credit card receipts, complex expense management processes. Keep an eye on. And try to get ahead of their travel budget.
Here are 3 key ways that take the stress out of managing a travelpark Business travel expenses and costs.
1. Access real time Reporting Business travel expenses
TravelPerk is a business travel booking tool with an intuitive mobile app where you can book all your employee travel in one place. Our corporate travel management tool has the best list of travel providers on the market, meaning you have more choices to choose from and the best rates guaranteed. Our travel management platform is designed to make both the booking process and travel expense management much easier.
By booking everything in one place, our online booking tool allows finance teams to keep travel costs down, keep track of their travel budget and ensure all travel-related expenses are under control.
Allow us to explain…
Let’s say all 8 of your team members are going to a conference in Barcelona next week. Instead of each colleague booking flights and accommodation through different online providers, a nightmare for your finance team to manage, if they book through TravelPerk, you’ll have all their itineraries and travel expenses recorded in one place. With our sophisticated reporting tools, your finance team can see in real-time where spending is going and stay ahead of budget.
The days of retrospectively tracking receipts to get a grip on travel expenses are well and truly over. All your corporate travel expenses are available in real-time with TravelPerk.
Our customized reporting functionality means you can make well-informed financial decisions. Our reporting tools are as flexible as you need them to be You can generate reports to show per team, employee, travel services, recoverable VAT and more. Reports are also available to export so you can create comprehensive visibility into how your company is spending money and whether you are under or over budget.
See how easy it is to track your business travel budget with Travelperk
2. Seamlessly integrate your preferences Cost management Platform
Simply put, we want to simplify business travel management for your entire company. This means an overall better user experience for your finance team, travel managers and business travelers.
With TravelPerk, not only can you view travel expenses in real-time, we provide one-click integration with your preferred expense management solution. Allows you to book all your travel and manage business travel expenses in one place
This means any time you buy a trip on TravelPerk, the total cost of your trip will automatically sync with your expense management tool. So you can keep all costs associated with the same business trip (including “down route” costs like food, taxis, etc.) in one place, with your finance team in full control. Magic!
We partner with leading expense management software like Expensify, Ramp, Divvy, Yokoy, Circula, etc. Visit our Marketplace for a complete list of our expense management partners.
3. Automatic travel policy and customized spending limits
Instead of hiding your corporate travel policy on your company shared drive, where it can easily be overlooked and forgotten, with a travel management company like TravelPerk your travel policy is ‘baked’ into the booking process. That makes it super easy to keep your travelers loyal and encourages employees and travel managers to make better-informed choices when booking their next business trip. (Which in many cases drives cost savings across the organization!)
When they make a booking on our platform, travelers can filter the results by “policy” and if they forget to do so, we will always notify them if the flight or hotel is out of policy.
Here’s an example of how it works with TravelPark:
Our platform allows you to easily set up customized spending limits and automatic approvals for different teams or individuals within your organization.
Don’t want your sales team to book business class airfare? No problem! Need to allow less restrictive travel arrangements for your CEO? Easy!
Here’s what personalized travel policies look like with TravelPerk.
Not only does travel policy compliance improve your internal workflows by allowing you to set up automatic approvals when your policies are baked into our business travel management solution.
So what does this practice mean?
Olivia, on your sales team, if a client is headed to New York for a pitch and books a flight within policy instead of waiting for her team leadership to approve the trip, you can set it to be approved automatically—since her travel plans fall within budget. Equally, if your finance team prefers to have full oversight of their travel budget and approve each trip, you can set that up too! Either way, you have complete control and flexibility to set up the approval process whichever way works best for you within the TravelPark booking tool.