Considering Travel And Subsistence Expenses In Companies

Considering Travel And Subsistence Expenses In Companies

Considering Travel And Subsistence Expenses In CompaniesFor a majority of companies, business travel is a regular part of the work routine. While business trips can be brief, extended stays for several months may also be required by employees. In these situations, travel and subsistence expenses can often blend with personal expenses, and this can create trouble for both the company and the employee.

 

Malicious Intent?

One of the greater concerns that corporations have is whether internal fraud or sabotage could threaten sustainability and growth. This is a highly valid concern as most internal theft does come through travel and subsistence expenses. However, there is a vast difference between intentionally skimming from the company, and simply not knowing the protocols for expenses.

In situations where the employee needs to take up a new residence for several months, travel and subsistence expenses can become even more tenuous to separate from personal ones. While it should be a part of employee training to cover these issues, this is not always the case. This means that monitoring these expenses can also become a means of teaching protocols.

 

Looking To Technology

One beneficial resource that both employees and companies can use in tracking travel and subsistence expenses is online software for expense reporting. This type of software can integrate devices, as well as credit cards and accounts, but also provides real time expenses reporting across a distance.

The result for the employee is that immediate submission, and approval or denial of charges, can inform them of what the delineation is between the personal and the professional on such an extended stay. Further, the paperwork that would normally be required is eliminated, which not only reduces work, but can also mean more immediate reimbursements for the employee.

From a company point of view, the above is also beneficial, but online software does offer further control as well. Bosses can see spending habits as they happen, and can manage the employee expenses from a distance. This also allows for a better means of teaching out protocols, while still maintaining corporate financial controls.