The Integration Of Travel Expense Reports And Mobile Technology Creates Accurate Budgets

The Integration Of Travel Expense Reports And Mobile Technology Creates Accurate Budgets

The Integration Of Travel Expense Reports And Mobile Technology Creates Accurate BudgetsBusiness travel is handled in a number of ways, based on the best practices that a company utilizes. This can include employee access to company accounts and charge cards for the duration of the trip, with the expectation that appropriate documentation and travel expense reports will be submitted upon return. The other common way that these endeavours are handled is through employees spending their own funds and resources, and then submitting the travel expense reports and receipts for reimbursement at a later time.

There are several problems that arise with this type of manual accounting for travel and expenses, with the most prominent one encompassing the issue of documentation. Not only do employees need to retain their receipts, but the administrative department also needs to verify the authenticity of these forms. Unfortunately, fabricating receipts has become easier with the use of technology, and the time lapse between the actual transaction and the time of handing in a travel expense report provides an opportunity for this infraction to occur.

Another problem with manual systems also has to do with lag time, although this is related especially to cases where business travelers have access to company accounts. Fraudulent charges can clear before documentation is processed, and the result is that there is very little follow up on discrepancies, since they are overlooked with the passage of time.

The use of automated travel expense reports provides a solution that is appropriate to either style of company practice, since it allows for real time control of charge authorizations and receipt documentation. Company credit cards can be integrated with the program for management purposes, while the software also connects with digital devices to allow for real time receipt capture. In this manner, technology provides a failsafe to possible fraud, while streamlining the workflow for managing travel expense reports.