Cloud technology has spread into every aspect of our world. From how businesses collaborate and store projects to something as simple as video games or music libraries, the Cloud is everywhere. And for many businesses, there’s never been a better time to take travel expense management into the Cloud as well.
When we talk about Cloud based travel expense management, all we’re essentially referring to is the use of online travel expense programs that can be accessed from anywhere with an internet connection – even mobile devices today can be used for this. There are some key reasons that it makes sense to take your travel expense system into the cloud:
- The first one is simply the costs. Not only can you find a completely free travel expense management program with no upfront costs, but you also save on monthly upkeep. You just pay a flat monthly fee to use the program, and that covers the costs of server and data maintenance as well as the rest of the process.
- Employees are able to process and submit reports as much as 67% faster when using an online system, according to a recent study. That means that your team is able to upload and manage information quickly and then get back to other aspects of their daily routine.
- You have more control as well. Not only can you set up various permissions and automation guidelines, but you can oversee expense management tasks from anywhere, in real time. That means that you will have full control over your expenses and be able to carefully control each side of the process.
- The automation side of travel expense management when done online means better accuracy. Not only will you be able to automatically approve and deny specific claims, but you’ll be able to integrate credit accounts automatically and even handle currency conversions. This automation means maximum accuracy and better compliance.
Taking your travel expense management efforts into the cloud is simply something that makes a lot of sense, and that you should pay attention to help ensure the best future for your company. And thanks to today’s technology, it’s easier to do than ever before.