Hospitality Management
Article | July 19, 2023
Discover the solutions and services of the top 25 revolutionary travel management companies that are transforming the industry in 2023. Integrate the one adhering your business needs and budget.
Businesses seeking stress-free and streamlined corporate travel solutions can rely on travel management companies. These experts provide customized travel arrangements, taking care of every aspect of business travel, from flight and hotel bookings to travel policy compliance, support, car rentals, and more. With advanced technology and online booking tools, they offer cost-effective deals while ensuring adherence to corporate travel policies. Additionally, they empower businesses to design their travel expense policies, resulting in an enhanced corporate travel experience for employees.
1 Expertise in Field
Travel management companies (TMCs) are experts in the field of business travel. They handle emergencies with proper understanding and remedy measures. Some travel risk management companies are specially devised for this purpose.
2 Being More Organized
TMCs organize the operations of business travel more efficiently. Business travel involves massive paperwork, especially in big groups and itineraries. The paperwork associated with corporate travel is managed by international travel agencies in a way that is organized, thereby enabling travel companies to allocate their attention to other crucial matters.
3 Making Informed Decisions
Employees must adhere to the corporate travel program or policy when they travel for business. Travel policies vary across different organizations and typically encompass guidelines that employees are obliged to follow while traveling. They make travel decisions for the company according to their travel policy. TMCs also advise employees to meet business travel requirements without breaking the company travel policy.
4 Enhanced Networking
TMCs have established relationships with travel and hospitality companies worldwide over the years sent in the industry. Business travel companies or clients could get exclusive rates on travel occasions through TMCs. They provide better deals within a travel budget than any direct travel booking.
5 Expense management
TMCs are specialized in finding and negotiating the best travel deals with enterprise providers and partners. They have special access to lower rates on the airline, hotel rooms, and transportation. As a result, they reduce overall business travel costs and offer competitive name-brand selections.
6 Business Travel Support
The companies can reach out to the travel consultant day and night with business travel support. Furthermore, the employees are free from the stress of tracking various vendors, as they can get all of them on one platform, which is accessible through a variety of different channels.
Top 25 Revolutionary Travel Management Companies
To enhance their business growth, travel companies can utilize the following list of travel management companies as a reference:
1. Emburse
More than 12 million business professionals, including CFOs, finance teams, and travelers, trust Emburse in spend optimization for expense, travel management, and payment solutions. It helps FORTUNE 100 corporations, startups, public sector agencies, and nonprofit organizations, through automation, analytics, and spending control. It streamlines processes and increases spending visibility, compliance, and positive financial outcomes.
2. East West Hospitality
East West Hospitality has more than 30 years of success in businesses like association, vacation rental and property management, developer support, hotels, spas, fitness, restaurants, and retail operations. It simplifies complicated travel operations. It makes stay effortless with its extensive experience and local expertise. It offers memorable destination experience through its trusted hospitality services.
3. Wexas Travel Management
Wexas Travel Management is a full-service travel provider to companies and organizations that travel on business. It works with businesses in different sectors like financial, legal, marine, oil and gas, insurance and pharmaceuticals. Its consultant-managed and digital tools are customized to individual requirements. With the support of a well-established account management team, it provides a broad range of travel-related services.
4. Nomadix
With over 25 years of experience, Nomadix has over 5 million daily internet connections in 150 countries. It helps hotel and property owners, brands, property management groups, and managed service providers (MSPs) with solutions like internet access gateways, application management appliances, visitor-based networks, digital voice assistants, bandwidth management, and managed Wi-Fi.
5. HotelKey
HotelKey has direct connectivity to major OTAs or GDS channels. Its all-in-one system includes core PMS, built-in CRS distribution, automated revenue management, property website hosting, and a no-commission direct bookings engine. In addition, its platform provides web apps for the back of the house and mobile apps for the front desk, housekeeping, and maintenance teams.
6. Bonotel Exclusive Travel
Bonotel Exclusive Travel, an inbound tour operator for luxury travel, offers exclusive deluxe hotels, resorts, and upscale boutique properties. It has a vast network of suppliers, direct access to the international client base, and tour operators worldwide. It has developed strong business relations with tour operators and can provide access to hotel partners which makes it unique.
7. Peachtree Hospitality Management
Peachtree Hospitality Management, a division of Peachtree Hotel Group, is a best-in-class hotel management company that creates loyalty among the stakeholders like associates, guests, and owners. Its proprietary systems and processes maximize financial performance, enhancing efficiency and customer experience. In addition, it provides dedicated hotel management services with the extension of expertise to owners as a third-party hotel manager.
8. AmTrav
AmTrav enhances the productivity of business travel. It offers services for expense management, corporate travel, software, travel productivity, and business travel management. In addition, its platform provides personal service with travel experts and relationship managers through advanced technology, which is helpful for business travelers, travel arrangers, and travel managers.
9. Boatsetter
Boatsetter, a leisure, travel & tourism company, is specialized in boat rental and charter, collaborative consumption, marine industry, travel, and adventure. It has partnered with GEICO and BoatUS to design an exclusive Peer-to-Peer Boat Rental Policy, inspiring boat owners’ engagement and encouraging entrepreneurship on the water. It helps to review the booking requests and inquiries from renters, manage all their bookings on the website or the application, and the payouts, which are processed quickly and connected to their bank account directly.
10. Norse Atlantic Airways
Norse Atlantic Airways offers affordable transatlantic flights with environment-friendly and comfortable Boeing 787 Dreamliner aircraft. It offers affordable fares to destinations and service on board modern and fuel-efficient Dreamliners for corporate and personal travel. It strengthens the employer-employee relationship and has entered into collective bargaining agreements with cabin crew and pilot unions in the U.S., U.K. and Norway. It incorporates a low-cost business model and approach for the cost-efficient airline without prior financial restraints.
11. InsureMyTrip
InsureMyTrip, an online travel insurance comparison site, serves customers worldwide with its licensed customer services. Its unique customer advocacy program provides assistance throughout the travel journey. It provides recommendations of best plans per the trip details and the best travel insurance plan that matches the traveler’s need, irrespective of the commission or company, with a money-back guarantee. In addition, its licensed representatives, Anytime Advocates, help with the insurance claim process.
12. Sonder Inc.
Sonder Inc., a hospitality company, provides a seamless business travel management experience through technology and innovation. It offers a variety of accommodation options, from rooms to suites and apartments. Its application empowers guests with self-service features and 24/7 support. Without any formality, it offers simple self-check-in to boutique bathroom amenities.
13. Operto Guest Technologies
Operto Guest Technologies, a hospitality automation and IoT operating system for vacation rentals, hotels, and serviced apartments, is revolutionizing hospitality management. It provides personalized stays, contactless check-in, guest satisfaction, operational efficiency and more revenue opportunity through technology that connects teams, guests, managers, smart devices and ancillary third-party service providers. With purpose-built software and smart IoT devices, it offers property managers unique real-time visibility and control. Its automation features include integrated keyless entry, energy savings, noise and occupancy monitoring, and personalized in-suite technology.
14. Life House
Life House is a vertically integrated hotel software, brand, and management company. It provides operational expertise to build robust software to enhance profitability and operational ease in independent hotels. It specializes in hotel software development, financial reporting, interior design, product management and operations, hotel management, and enterprise SaaS.
15. PCH Hotels and Resorts
PCH Hotels and Resorts is a franchised management company with Marriott. Beginning with the acquisition of the Grand Hotel Resort & Spa, PCH has grown to become the top hospitality employer in Alabama. Currently, PCH manages four Renaissance Marriott resort properties, three Marriott resort properties, one Autograph Collection resort, one select service IHG property, and one Outlet Shop. Each property is minutes from the extensive world-class Robert Trent Jones Golf Trail.
16. Spotnana
Spotnana powers unparalleled global travel experiences. It modernizes the travel industry's infrastructure to bring travelers freedom, simplicity, and trust everywhere. Its travel-as-a-service platform makes travel simpler and affordable for corporations. It's our ecosystem of agency, supplier, and technology provider partners to increase operational efficiency, new revenue opportunities, and innovation.
17. GetYourGuide
GetYourGuide is a travel bookingplatform connecting travel enthusiasts, experts, and technologists with people. It helps in discovering the destination’s best activities and attractions. In addition, it simplifies the digital travel reality by offering data-driven insights, technology, and market expertise through its destination management company database.
18. VTrips
VTrips offers services for vacation rental property management, guest management with dedicated property managers and best advertising and marketing approach. It is the premier property management company serving in Alabama, Florida, Georgia, Hawaii, Maryland, New Mexico, North Carolina, South Carolina, Tennessee, and Texas. It also provides vacation rental guest experiences through its quality management and personalized services for real estate and corporate travel.
19. Trip.com
Trip.com specializes in OTA, flight tickets, hotel booking, train tickets, and internet services. It has an extensive hotel network for a diverse choice of accommodation. Its flight network has over 2 million individual flight routes connecting more than 5,000 cities around the globe. It combines 24/7 English customer service and various travel products necessary for a successful trip.
20. Deem, Inc.
Deem, Inc., a corporate travel booking software, helps in policy adherence, better travel decisions, employee engagement, and cost control through secure solutions. It allows travel managers to customize their travel programs. It integrates into travel and expense management companies & travel agencies with powerful APIs and design.
21. Mondee Holdings, Inc.
Mondee Holdings, Inc is a group of travel technology, service, and content companies driving innovation in the leisure, corporate, and retail travel markets. It delivers a revolutionary technology platform of SaaS, mobile, and cloud products and services to a global customer base. Major corporations, SMBs, travel agencies, and new gig economy workers use its easy-to-use technology platforms to access global travel content, services, and products. Corporations like Rocketrip and TripPlanet trust it for cost-saving, employee safety, and sustainable future.
22. Priceline
Priceline, a part of Booking Holdings, Inc., provides the best deals for hotel rooms, flights, rental cars, vacation packages and cruises. It specializes in online travel services and ecommerce through its internet publishing platform. It uses cloud computing to provide personalized and alternative recommendations for travel.
23. Egencia
Egencia, an American Express Global Business Travel Company, is a B2B travel tech platform. As part of the valuable marketplace in business travel, it provides data insights and AI-driven innovation that power the travel programs of 9000+ companies in more than 60 countries. It specializes in online business travel booking, purchasing, technology, travel management, corporate travel management, and travel app.
24. Forbes Travel Guide
Forbes Travel Guide renders hotel, restaurant, and spa reviews, travel advice, learning tools, service training, guest experience, and customer services. Its star rating standards reflect the industry's highest levels of service and facility measurement worldwide. With experience in the industry, it provides more reliable information about the travel recommendations and booking.
25.ADTRAV
ADTRAV provides technology solutions for business travel management of corporations, government agencies, and non-profit organizations. Through the help of federal contractors, it maintains compliance with federal travel regulations and fulfills the audit requirements of the DCAA with its government travel expertise.
Conclusion
Collaboration with travel management companies has many advantages, like expense management, business travel support, enhanced networking, making informed decisions, being more organized, and expertise in the field. However, business travel must integrate with the companies according to their budgets and requirements. The travel companies must keep aside the stress of planning, booking & tracking the travel vendors for employees' business travel and rely on TMCs for a cost-effective and comfortable corporate travel experience.
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Hospitality Management
Article | June 29, 2023
Corporate travel and entertainment are almost every company's second-largest controllable expense after payroll and other benefits offered to employees. When it comes to such expenses, manually recording them on paper, saving crumpled receipts, or even creating Excel spreadsheets doesn’t ensure efficiency.
Businesses are implementing software that automates travel and expense management to streamline operations, cut costs and reduce the frustration that repetitive tasks bring. They are leveraging expense data to categorize their travel spends based on projects, departments, and cost centers to stay on top of all their travel-related expenses and financial operations.
Control & Transparency Matter
Global accounting teams put two things above all else: control and transparency. Without these two, they leave room for risk and mishaps and cannot function efficiently. Travel and expense automation allows financial and accounting teams to see where every dollar is spent. Bills and reimbursements are paid diligently and without much scope for error or expense fraud. Accurate, transparent data can then become the foundation of business decisions on spend and expense forecasting.
Employees Dislike Mundane Tasks
Your employees have important job functions that they need to carry out on a daily basis. A cloud-based tool that they can access at anytime and from anywhere helps them look at travel expense reporting in a different way. They can spend their time doing productive tasks that do not involve mundane paperwork or tallying expenses manually.
Managers Expect Budgeting Compliance
No manager is a fan of going over a long paper trail of expenses and verifying if every expense complies with company policy. A travel and expense management software highlights employee travel expense that does not comply with business policy. As approvers, managers can access this data from any place, discuss the matter with the employee in question, and get a quick resolution.
Controlled Spending Makes C-level Execs Happy
Implementing travel and expense management software helps keep the company’s spend under control. Low spends and high profits make every C-level executive happy. To top it off, it also makes them happy to make their employees happy while maintaining travel spend transparency.
Features of T&E Management Software That Make a Difference
Extracting important expense data from receipts by scanning
Option to submit expense reports via commonly used apps and text messages in a single click
A comprehensive view of a trip spend in a single, error-free report
Option to set up automated expense approval workflows
Quicker employee reimbursement turnaround time
Instant expense report submission notifications for prompt review
Bottom-line
Streamline your T&E process, tackle expense reporting challenges for traveling employees, and simplify expense tracking, approvals, and reimbursements using T&E management software. Empower your finance teams with complete visibility of travel spend to create a seamless automated expense management experience.
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Hospitality Management
Article | June 19, 2023
If a kid comes to me nowadays and tells me about his passion for working in the hotel industry, he goes back home with a dream to become a pilot. I am not saying that the hotel industry is the worst kind of industry currently existing in today’s environment, but I am also not denying that.
Now, no offence to the hoteliers. You guys rock! It is no joke to work on a New Year Eve and see other people celebrating it while you guys make it happen. You have my respect! But I am probably not that tough. It took me a whole trial and error approach to declare this industry a nightmare for me. But I have so many of my friends still working in hotels and loving every second of their life. (At least that’s what they tell me.)
So why were our experiences so different? Why do I know that so many people are not really made for this industry? And what does it take to be a hotelier? I will try to answer these questions through my experience and observations.
Why Hotel Management?
It is that one question that is the most common and important one. Before taking any big decision, one should be asking a similar question. But what was my why?
Allow me to rewind my journey. I was in my 12th with commerce stream, and I was going through that self-enquiry phase. What after this? There was no 13th, nor did I enjoy accountancy too much to do it until I die.
So I used to surf the internet and explore different career options almost every day. That was one of my significant hobbies during that time. I used to evaluate my choices, and very soon I understood that I had limited options in the commerce field. So it was arts then? But what was the median salary in that sector?
After a lot of research, I realised the median salary in the arts sector was ‘disappointing’.
But still, if not that, then what? What was I going to do with my life? It was then that I saw the picture of a cruise ship and remembered 'Titanic'. It was then that I imagined the luxury of a 5-star hotel. It was that moment where I was about to make one of the stupidest decisions of my life.
I had never stepped into a kitchen nor showed the slightest interest in making any dish. I never really fancied cleaning glasses, nor did I like managing people under me. I also didn’t know absolutely anything about what was this industry all about.
But I dared to share it with my sister, and she was like, wow! It sounds so different! I told this to my friends, and they were like, wow! We always knew you would be doing something different! I told this to my father, and he told me students have to clean toilets during the internship, and I shouted, ‘But that’s not a big deal! Anyone can do that!’ Dad said, ‘Do whatever you want to do then, my son.’
Well, so what did I want apart from freedom in my life at that point? Maybe maturity? Oh! Screw that!
So I gave the entrance exam and got a decent rank. I desired to stand in the lobby of a 5-star-hotel and meet salacious women. I was pretty sure that many women would choose that industry apart from me. That was enough motivation! So yes, my reasons to choose the hotel industry was very logical and thoughtful, suffice to say.
What Happens in a Hotel?
The hotel industry is one of the most glamorous industries out there. Everything is so clean, eloquent, expensive, and pretty. People come to a 5-star hotel, are warmly welcomed, served drinks; they are provided comfortable beds to sleep in, and they enjoy their stay and endless services. Then they simply check out.
My only mistake while considering this option was that I wouldn’t be treated like one of those ‘People’ there. In our very first lecture, the term ‘Guest’ was taught to us and how we are not them. We are the ones who would serve them. We would be the waiters, the cooks, the greeters, the bartenders, etc. We wouldn’t be drinking with them but watching them while they would be cavorting.
That was a shocker! So many things happen in a hotel, and hoteliers make those things happen. They do all the hard work. The Bakery Chef would spend hours decorating the cake, which the guests would smash on each other's faces. The housekeeper would clean the bathtub while the guest would take five more baths after that.
The front desk agent would be greeting the guest during check-in, and the guest would throw tantrums because of his arduous journey. Suddenly my bubble broke, and I realised what I really signed for. I signed for an everyday vacation in hell.
Who Survives?
I think adulthood is about that realisation when you get to know that bread isn’t free. And what buys that bread isn’t that easy to get. And how much that thing matters to you is going to decide how happy you are going to be in your life.
If I was that guy who had grown up watching Masterchef and experimenting in the Kitchen all my life, then a Gordon Ramsey could have come out of me.
If I were a fastidious guy who wanted everything to be clean and perfect, then an entrepreneur or a manager could have come out of me who would have tried to do that during his job.
If I were a guy who loved making people smile, then interacting with guests while serving the food or taking their check-ins would have been the best things out there for me.
You get my point! There are so many things that could have made hotel management an ideal career choice for me. It really is a glamorous industry, and it can provide satisfaction as a career option to some people out there. But that wasn’t the case with me. Sadly that wasn’t the case with many of my batchmates and colleagues of mine as well.
After completing my three-year graduation, four-month industrial training, and one-year job as a Front Desk Agent, I quit. Nor could the managers inspire me, nor any other incentives that the industry had to offer. My future looked as grim as the life of an insect (No offence to you if you are an insect.)
So yes, be wise before choosing this industry because this industry demands a lot! It is one of the most selfless jobs out there, and you have to be prepared for the nasty feedbacks after all your hard work. So do some self-inspection (Unlike me) if you are stuck in this industry or are planning to do so.
And if you love where you are right now, then as I said, you have my respect.
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Business Travel
Article | December 10, 2020
As every department is going through digital transformation in travel companies, finance processes are no exception. The advancements in technology are influencing how travel expense management is evolving. Technology is widely affecting how travel expenses are captured, submitted, audited, processed, and reimbursed. The automated travel expense management is helping most of the corporate travel companies with inclusion of the latest travel management and expense management tools.
In 2016, the share of corporate travel expense management was US$1.3 trillion; therefore, by 2023, it is predicted to hit US$1.6 trillion. Companies today are rethinking modern travel expense management policy and developing corporate travel expense management system including expense management best practices. They are actively using travel management and expense management tools to create a smoother workflow.
Looking at these developments in expense management policy, it’s important to understand what companies were facing before implementation of automated version of expense management system.
Main Hurdles While Managing Travel and Expense
Policy violations
Multiple layers of forms
Delayed submission of expense reports by employees
Increased processing cost
Lack of visibility into the process
Heaps of productive hours were wasted because of the manual processes involved in the expense management policy. Managing the excel reports and cross-verification for policy compliance resulted in increased costs. Delayed submission of expense reports caused late input tax credit claims, which affected businesses to generate revenue. Consequently, to minimize the hurdles of managing travel expenses, an automated travel expense management system, and some best practices for travel expense management were the need of the hour.
An Overview: Modern Travel Expense Management
Modern travel and expense management systems and its practices help employees manage the financial process in real and measurable ways. The system governs how the finance team spends company money on corporate travel and other related expenses. It includes an automated expense management process, which has drawn attention to seamless receipt generation, auditing, reimbursing, submission of finance reports, and cost savings.
To implement modern travel expense management, some best practices for travel expense management are suggested to help build a consistent workflow. Many corporate travel companies have included it to automate the expense management process but are little aware of practices that can enhance their workflow. In this scenario, it's important to know the importance of including the best practices for travel expense management.
Why Talk about Best Practices for Travel Expense Management?
In the finance department, various types of frauds such as multiple reimbursements, overstated expenses, fictitious expenses, and more always stay at the top of the mind for most CFO’s. A well-controlled travel expense management system helps prevent misuse of company assets and prohibits misconduct from dealing with such situations.
According to the Aberdeen group’s research, 43% of top travel companies and their CMOs consider T&E management a critical strategy for their company to handle travel expenses. In comparison, 48% of them say they “need to reduce expense processing costs,” which is why they implemented best practices for travel expense management.
Whether large or small, companies realize the potential benefits of a well-managed travel spend mechanism that had best practices for travel expense management to automate the expense management process. They invested heavily in expense management software, which helped them frame a consolidated expense management policy.
In the end, corporate travel policy best practices need to be tailored specifically to employees to create best-in-class expense management and improve performance. By following expense management best practices, you can also define and implement an accurate policy and ensure your employees implement potential tools to automate the expense management process. This will create an efficient finance process that will lead to a friction-free travel and expense management system. If you are updating your finance functions, this small expense management guide to the best practices for travel expense management will help you far to reach your goals.
Best Practices for Travel Expense Management
Create Ownership of the Policy
Before you start implementing T&E management as a critical strategy, defining ownership of the policy clearly is crucial. Ideally, your finance team needs to understand it thoroughly while using the best expense management software. Creating ownership of the policy will benefit as follows:
First: You will have clear ownership that will ensure that your finance team tracks the policy accurately and makes necessary changes to cater to corporate travelers and their requirements.
Second: Your employees will be able to address queries and concerns related to corporate travel a defined way. This way it will become easier for them to handle multiple queries at a time and cater to possible services.
Include Simple Policies
Your expense management policy should outline what it is accurately. It can only be practiced if you keep policies simple based on the company’s culture and its budget. Using the right travel management and expense management tools, your company’s travel expense management mechanism will be quick and easy for employees to work on expenses claimed by corporate travelers, submit, and audit them. Including simple policies will help employees track receipts through mobile applications and even upload them immediately. This entire process will help minimize errors and lessen receipt loss possibilities.
Accurate Expense Reporting
To include accurate expense management reporting is considered one of the most successful best practices for travel expense management. Around 30% of CFOs believe that to review expenses reporting for policy violation is the biggest pain point. As you automate the expense management process, the mechanism of expense reporting and expense claim management also gets smarter. There are multiple benefits to have a sound reporting system.
It gives budget creators a better understanding of how a specific travel expense budget is consumed.
Finance teams get a proper structure and create a defined spending pattern to identify transactions so that there are no fraud possibilities in the management system.
The reports under expense reporting become accountable because the total spends are available to senior management for a broad review.
Expense Payments Are Timely Processed
The right expense management software usage can help your employees process expense payments on time and faster to reduce errors. By implementing this expense management best practice, your employees can present expense reports timely to managers. An automated expense management system eliminates the tedious job of manually checking expense payment violations and encourages initiating flawless expense payment processing.
Creates Accountability
To keep accountability in expense management is vital for a finance manager. The automated travel and expense management system creates an opportunity to enable accountability option for your company’s expense plan so that managers are made aware of the transactions, submission of reports, expense claims, reimbursements, and more that are taking place. In order to gain high accountability in these areas, the new travel expense management process provides easy access to review and gives appropriate reports. You can easily implement this corporate travel policy best practice to your system and keep a check using expense management software that provides access via mobile applications. Practicing this will give your finance team more power and guide them to generate better revenue annually.
Conduct Regular Audits
By implementing this as best practices for your travel and expense management, you can efficiently conduct regular audits of the travel expense. Many CMOs have followed it and attained success while implementing it. Similarly, a regular audit also identifies areas of improvement and can point variances that could generate exemplary revenue. Practicing this in your finance process will also help uncover expense fraud. In this case, the Association of Certified Fraud Examiners’ (ACFE) reveals, 20% of small businesses and 13% of larger firms reported fraudulent expense reimbursements in 2019. The activities that were highlighted as
Access expenses
Non-characterized expenses
Fictitious expenses
Multiple reimbursements for the same expense
After putting your time and effort into recreating a new travel and expense management system and inculcating best practices for travel expense management in your company, it is crucial to choose the right ways to enforce it. Consistent use of best practices for travel expense management will let you save costs, and there will be no adverse impact on your company's budget. You can make effective decisions for your business as it eradicates your finance team's hurdles that were before.
Frequently Asked Questions
What is a travel and expense policy?
A travel and expense policy is a set of rules that covers the process of reimbursement and claims for expenses that are incurred by employees on corporate travel plans. This policy outlines how a company’s employees should set procedures for corporate travel.
What is business travel management?
Business travel management includes policies that set a company’s function in a strategic way. It includes various types of contracts made with airlines, hotel chains, rental car companies, and other business travel related management services.
What is expense management?
Expense management works according to two key elements—how a business pays for employee-initiated expenses and how to track all employee-initiated spending. In this, management of costs is included mainly for corporate travel, accommodation, meals, flights, and car rentals.
What is expense management automation?
Expense management automation encourages services like collection, storage, submission, reporting to function automatically. It implies the use of analytical tools to help companies maintain accountability and compliance through accurate tracking and reporting process.
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