T&E Management: Understanding Travel Spend & Cutting Costs

Apurva Pathak | August 5, 2022 | 793 views | Read Time : 02:29 min

T&E Management: Understanding
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.

Spotlight

Delta Air Lines

In 2018, Delta was named to Fortune’s top 50 Most Admired Companies in addition to being named the most admired airline for the seventh time in eight years. Additionally, Delta has ranked No.1 in the Business Travel News Annual Airline survey for an unprecedented seven consecutive years.

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Leveraging AI English Language Training Tools to Address Travel Surge

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Following the relaxation of travel restrictions worldwide, the travel and hospitality industries are bracing for a surge in demand, which will be exacerbated by the upcoming holiday season. As widespread delays and cancellations become more likely, companies like airlines are looking for new ways to put customer experience first. In a global workplace, not being able to speak more than one language, especially English, can hurt productivity and customer service. For this reason, people who work with customers need to have good communication skills. Investing in AI English Language Training Tools Traditional training for staff in the travel and hospitality industries requires in-person sessions. It can be expensive and impractical because employees have tight work schedules and staff operates in different time zones. AI app-based training alternatives solve these key issues, allowing employees to learn "on-the-fly" whenever possible. Digital training alternatives can provide greater levels of personalization for task assignment and user feedback. This individualized approach to staff development is difficult to replicate in large in-person sessions. Because all tasks are given and done digitally, management teams can track each user's progress and how well training is going for the whole department. Offering Excellent Customer Experience English communication is vital to offering an excellent customer experience and long-term profitability as the travel industry recovers. Artificial intelligence-powered English language training solutions stand out from the crowd. This technology has the potential to constantly advance and improve over time, thanks to its own learning community. Ed-tech learning tools that incorporate future-proofed AI technology will enable providers to confidently invest in training, increase staff engagement, and provide best-in-class customer experiences to global travelers. As a result, companies in the travel and hospitality industries that put communication skills training at the top of their list of priorities and speed it up can increase customer loyalty and stay competitive with other market leaders.

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Smart Airports: Hassle-free Air Travel & Revenue

Article | August 4, 2021

Airports are embracing data and technology to improve the experience for both passengers and vendors. Such ‘smart airports’ where internet-connected devices control functions like thermostats and security using cloud-based technologies to enhance the consumer experience, are quickly becoming commonplace. The Emergence of Smart Airports Smart Airports were made to solve control and management problems that airports are having more and more of because of the number of people and goods that go through them. Because of this, experts from all over the world are focusing on smart airports, which use the latest developments in telecommunications, infrastructure, robotics, and the Internet of Things (IoT). Advantages of Smart Airports Real-time data improves operational efficiency. Cost reduction, productivity improvement, and operational perfection. Demand optimization through passenger flow control and entry automation. Improved passenger handling, flight control, check-in, etc. Biometric monitoring systems, advanced cyber security, and reliable operations and maintenance improve surveillance and security. Better ground and health surveillance (cleaning frequencies, availability of amenities, etc.). The Revenue Angle A smart airport uses Wi-Fi access points as sensors to track passengers’ location and record their dwell times. With this data, the airport could place signs and ads where they would be seen. While landing travelers previously made few purchases, this airport placed signs for products they may want to buy before leaving where they would be seen. The result was increased sales for retailers and landside revenue for the airport operator. (Source: Deloitte Study) Traveler’s & Airport Operations Experience A traveler constantly interacts with technology systems and stakeholders during his journey through the airport. The smart airport systems influence the traveler’s safety, convenience, and overall experience at the airport. Operations like bag tracking, indoor navigation, in-store beacons, geo-fencing, queue analyzer, biometric screening, Wi-Fi passenger tracking, and building management systems are powered by IoT implementations that make an airport smart. Creating a Smart Airport: The Checklist A well-structured planning process can assist airport leaders in navigating all of the options and gaining confidence in achieving the airport's business objectives. The checklist includes the following steps: Selecting an IoT solution that aligns with your business goals Determine the organizational and technical abilities required to implement the solution Craft a road map to address gaps between the required abilities and existing abilities

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Big Data In Travel: Triggering Business Transformation

Article | July 7, 2022

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Delta Air Lines

In 2018, Delta was named to Fortune’s top 50 Most Admired Companies in addition to being named the most admired airline for the seventh time in eight years. Additionally, Delta has ranked No.1 in the Business Travel News Annual Airline survey for an unprecedented seven consecutive years.

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TDCX expands in the Philippines to meet growing demand for complex customer experience solutions

TDCX | September 29, 2022

TDCX, Inc. (“TDCX” or the “Company”) (NYSE: TDCX), a high-growth digital customer experience (CX) solutions provider for technology and blue-chip companies, continues its expansion path with a new office in Iloilo in the Philippines. This is TDCX’s sixth campus in the Philippines and strengthens the company’s capacity to serve Global English end-markets, such as North America, United Kingdom, Ireland, Australia and New Zealand. The outsourced CX services market outside of Southeast Asia is expected to grow to US$86.3 billion by 20251. With the expanded operations in the Philippines, TDCX will meet the increasing demand for CX services. 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Optii Announces Connectivity to Oracle Hospitality Integration Platform

Optii | September 29, 2022

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Cain Travel and Sabre | August 05, 2022

Sabre Corporation (NASDAQ: SABR) a leading software and technology provider that powers the global travel industry, announced a new distribution agreement with Cain Travel, a US-based travel agency. This new agreement will enable Cain Travel to complement services to their customers worldwide, drive efficiencies and support their economic growth by leveraging their proprietary technologies along with Sabre's travel marketplace (GDS). Cain Travel will have access to Sabre's marketplace of more than 400 airlines, 750,000 hotel properties, and hundreds of tour operators, rail, car rental and cruise providers, to sell customized travel packages from suppliers around the world. Additionally, the travel agency will use their proprietary technologies – powered by Sabre API's – along with the reach represented by the Sabre GDS to differentiate its services among their competitors. "The key reasons Cain Travel chose Sabre were its technology and strategic vision on NDC. We were looking for a travel technology partner that could help us address many aspects of our business – driving revenue, reducing costs, and improving our efficiency, Sabre's technology strategy including its approach to NDC will make it easier for our staff to find the content and personalized offers that our customers expect. We look forward to a successful and bright future with our new partner." -Michael Cain, President of Cain Travel Group of Boulder Founded in 1985, Cain Travel is one of the nation's largest independent travel management companies, providing a unique set of travel solutions. "As the industry continues to recover, travel companies face the challenge of quickly adapting their business to this dynamic market's changing needs and requirements, We are excited to serve as the strategic technology partner for Cain Travel and to bring them onto the Sabre GDS where they will have full access to Sabre's leading technology and broad travel content." -Andy Finkelstein, senior vice president, Global Agency Sales and Corporate Solutions for Sabre Today, thousands of agency points of sale are shopping, booking and servicing NDC offers through the Sabre marketplace. Sabre continues to broaden its NDC capabilities, coverage and content from multiple airlines. About Sabre Corporation Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com. About Cain Travel The Cain Travel Group of Boulder, Inc. (Cain) is a certified Woman Owned Small Business founded in 1985. Since our inception, Cain has grown to become among the largest privately held TMCs in the country. Cain has achieved this success through a combination of employing extremely experienced and dedicated staff, enjoying unparalleled employee and customer retention rates and conceptualizing, developing and deploying new technologies designed to enhance traveler experience and facilitate the success of travel programs. The Company is based in Boulder, Colorado.

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TDCX expands in the Philippines to meet growing demand for complex customer experience solutions

TDCX | September 29, 2022

TDCX, Inc. (“TDCX” or the “Company”) (NYSE: TDCX), a high-growth digital customer experience (CX) solutions provider for technology and blue-chip companies, continues its expansion path with a new office in Iloilo in the Philippines. This is TDCX’s sixth campus in the Philippines and strengthens the company’s capacity to serve Global English end-markets, such as North America, United Kingdom, Ireland, Australia and New Zealand. The outsourced CX services market outside of Southeast Asia is expected to grow to US$86.3 billion by 20251. With the expanded operations in the Philippines, TDCX will meet the increasing demand for CX services. TDCX has signed on 25 new clients since January 2022, including a leading regional airline and one of Southeast Asia’s largest integrated car e-commerce platforms. “As economies around the world recover from the effects of the pandemic and grapple with the current economic uncertainties, we are seeing increased demand for outsourced customer experience services. This is due, in part, to our ability to deliver superior customer experiences and to drive sales quickly, efficiently and cost-effectively for our clients. In the second quarter of this year, our total revenue across the Group was US$116.6 million, up 23.3% year-on-year2." -Ms Eliza Acuña, Vice President for Business Strategy, TDCX Philippines The Philippines is known for its outsourcing capabilities and is an important node in TDCX’s network. Their highly skilled workforce coupled with a hospitable culture make the country a hotspot for us to hire the talent we need to resolve increasingly complex customer issues. Our new office in Iloilo will supplement our Manila and Cebu operations and create more job opportunities locally. TDCX opened its Manila office in 2014 and its Cebu office in 2019. Since the opening of the Cebu office, TDCX has almost doubled its staff strength in the Philippines. TDCX’s Iloilo office a gateway into Philippines’ upcoming innovation hub Iloilo is anticipated to be an innovation hub by 20303. TDCX’s strategic expansion into Iloilo enables it to entrench itself in the local innovation ecosystem and work with other stakeholders to enhance the outsourced customer experience industry’s competitiveness on the global stage. Ms Acuña said, The outsourced customer experience industry is increasingly important in the growing digital economy. As consumers live more of their lives online, their experience becomes a more significant factor in brand preference and loyalty. Hence, this is a very exciting time for our industry and our people. With our positive work environment, attractive client roster and interesting and fulfilling work, we look forward to growing with our people and equipping them with future-ready skills that will help them stay competitive in the new economy. New economy jobs are emerging professions that reflect the continuing importance of human interaction, according to a report by the World Economic Forum4. The report also states that demand for both “digital” and “human” factors in the professions of tomorrow is driving greater demand for roles such as customer success specialists. To equip its people with the skills for new economy jobs, TDCX provides a wide variety of training programs through a mix of structured and unstructured learning environments. TDCX’s online learning and training programs known as "Flash Coach" and "Flash Learn" provide employees with access to training virtually and on-demand. In addition to job-specific training, employees also receive training in critical thinking, problem-solving and agility. These are among the top skills that are needed by 2025 as identified by the World Economic Forum. Employees are empowered to complete the modules at their own pace while managing their day-to-day responsibilities. The training content is continually refreshed based on analytics from the platform. In addition, TDCX provides employees access to leadership programs such as Dale Carnegie training and online tools such as LinkedIn Learning so that they may voluntarily gain new skills. TDCX’s Iloilo campus is located at Robinsons Cybergate Iloilo Tower 1 in Pavia. About TDCX Singapore-headquartered TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and to protect their online communities. TDCX helps clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint. It serves clients in fintech, gaming, technology, home sharing and travel, digital advertising and social media, streaming and e-commerce. TDCX’s expertise and strong footprint in Asia has made it a trusted partner for clients, particularly high-growth, new economy companies, looking to tap the region’s growth potential.TDCX’s commitment to delivering positive outcomes for our clients extends to its role as a responsible corporate citizen. Its Corporate Social Responsibility program focuses on positively transforming the lives of its people, its communities and the environment.TDCX employs more than 17,000 employees across 26 campuses globally, specifically Singapore, Malaysia, Thailand, Philippines, Mainland China, Hong Kong, South Korea, Japan, India, Romania, Spain and Colombia. For more information, please visit www.tdcx.com.

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Optii Announces Connectivity to Oracle Hospitality Integration Platform

Optii | September 29, 2022

Optii Solutions, the leading cloud-based hotel operations software, announced an integration with the Opera Hospitality Integration Platform (OHIP). The new integration will make it easier, faster, and more cost-effective for hoteliers to manage their integration between Optii and Oracle Cloud PMS.When implementing a modern technology solution like Optii, that is powered by artificial intelligence (AI) and machine learning (ML), integrations matter. When seeking to use hotel operations technology to increase productivity, reduce cost, and improve the guest experience, time is of the essence. The faster a solution like Optii can become operational, the faster the benefits are realized for hotel teams, their guests, and hotel owners. The integration with OHIP will address exactly this for Opera Cloud PMS hotel customers. Dino Pietropaolo, CTO of Optii Solutions said, Not only will this integration save Opera Cloud PMS customers time and money when choosing to transform their hotel operation with Optii, they will also get the latest in API technology and a high level of security with fine grained OAuth 2.0 on all APIs. The self serve aspect of Oracle Hospitality Integration Platform will mean a lot more flexibility and autonomy for hoteliers and for Optii. The typical integration between hotel technology applications and a hotel PMS requires work on both the technology application side and the PMS, while with OHIP, hotelier and technology providers such as Optii can manage the integration process without Oracle participation. “At Optii, customer success is everything. But when delays in integration happen, the time-to-value for our customers is impacted and often the mitigation is out of our control. With OHIP, together with our customer, we are in the driver’s seat and have full control of the process and timeline. This helps our customers realize their goals quicker. We are very excited to start offering OHIP integration to our customers in the coming weeks!” -Katherine Grass, CEO of Optii Solutions About Optii Solutions Optii Solutions is a hotel operations solution that leverages smarter technologies such as artificial intelligence, analytics, messaging and mobility to improve the efficiency and effectiveness of housekeeping and service delivery departments. For further information, please visit: www.optiisolutions.com.

Read More

BUSINESS TRAVEL

Cain Travel agency signs GDS agreement with Sabre to drive agency sales and revenue growth

Cain Travel and Sabre | August 05, 2022

Sabre Corporation (NASDAQ: SABR) a leading software and technology provider that powers the global travel industry, announced a new distribution agreement with Cain Travel, a US-based travel agency. This new agreement will enable Cain Travel to complement services to their customers worldwide, drive efficiencies and support their economic growth by leveraging their proprietary technologies along with Sabre's travel marketplace (GDS). Cain Travel will have access to Sabre's marketplace of more than 400 airlines, 750,000 hotel properties, and hundreds of tour operators, rail, car rental and cruise providers, to sell customized travel packages from suppliers around the world. Additionally, the travel agency will use their proprietary technologies – powered by Sabre API's – along with the reach represented by the Sabre GDS to differentiate its services among their competitors. "The key reasons Cain Travel chose Sabre were its technology and strategic vision on NDC. We were looking for a travel technology partner that could help us address many aspects of our business – driving revenue, reducing costs, and improving our efficiency, Sabre's technology strategy including its approach to NDC will make it easier for our staff to find the content and personalized offers that our customers expect. We look forward to a successful and bright future with our new partner." -Michael Cain, President of Cain Travel Group of Boulder Founded in 1985, Cain Travel is one of the nation's largest independent travel management companies, providing a unique set of travel solutions. "As the industry continues to recover, travel companies face the challenge of quickly adapting their business to this dynamic market's changing needs and requirements, We are excited to serve as the strategic technology partner for Cain Travel and to bring them onto the Sabre GDS where they will have full access to Sabre's leading technology and broad travel content." -Andy Finkelstein, senior vice president, Global Agency Sales and Corporate Solutions for Sabre Today, thousands of agency points of sale are shopping, booking and servicing NDC offers through the Sabre marketplace. Sabre continues to broaden its NDC capabilities, coverage and content from multiple airlines. About Sabre Corporation Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com. About Cain Travel The Cain Travel Group of Boulder, Inc. (Cain) is a certified Woman Owned Small Business founded in 1985. Since our inception, Cain has grown to become among the largest privately held TMCs in the country. Cain has achieved this success through a combination of employing extremely experienced and dedicated staff, enjoying unparalleled employee and customer retention rates and conceptualizing, developing and deploying new technologies designed to enhance traveler experience and facilitate the success of travel programs. The Company is based in Boulder, Colorado.

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