There is the old adage “You’ve got to spend money to make money.” Nothing truer has been said about business. But the saying is true in ways you might not have thought about. Take a company’s travel expenses for instance. If a company travels a lot to certain areas of the world, then that company has a little bit of leverage to negotiate a travel deal. That company can call around to the available airlines and try to strike up a travel contract. The price of travel for the company goes down and the airline scores a big contract where business is guaranteed. It is a win-win.
But those negotiations are not always fun. You have to prove to the airline that your company will spend X amount of dollars on travel. No airline is going to take your word for it, so you have to prove it with past travel reports.
Herein lies the problem. Receipts for past travel are all going to be buried in past expense reports. The travel secretary is going to have to pull out all those old expense reports and the receipts associated with them. If the company employs an old filing system, then pulling the reports could take many hours. Those hours are lost productivity doing something else. It also does not guarantee that all the travel receipts are found and pulled.
But there is an easy way to guarantee accurate receipt retrieval. The use of automated expense reports software will not only identify all relevant travel receipts, but it will save time. Nobody will have to go digging through file cabinets looking for specific pieces of paper.
Expense reports software can easily organize all spending information into different categories. The travel manager can get all of this information with the click of a button. All of the receipts can be digitized with a the snap of a smart phone camera, so hard proof can be pulled up instantly. All of this information is critical during the negotiation process.
When information is digitized with expense reports software, you can easily display the data any which way you want. You can make an assortment of spending charts, travel spreadsheets and even project future travel. This gives the company serious leverage when negotiating a travel contract with a particular airline. The more you can prove that you will spend money on travel, the bigger discount you will receive in the contract. It truly is an example of when spending money on travel will make you money on discounts in the future. That old adage is correct.