Have you ever heard the phrase, what you can’t see can hurt you? With all of the mobile technology applications available today, as well as the increasing complexity of running a business, organizations today struggle with T&E visibility across all departments. Most companies have automated some processes with multiple technologies, so why are we not seeing greater visibility and savings, and why is there still work to be done?
The answer is clear but not necessarily easy. We live in a data-driven world where automation alone is no longer the end-all, be-all solution to address back office challenges, facilitate information flow or boost employee productivity. Incomplete integration across business-critical applications results in multiple handoffs and having to physically managing the movement of data, resulting in fragmented systems, and data trapped in silos.
To gain a better understanding of their data, simplify operations, and ultimately achieve greater savings, best-in-class businesses are turning to strategic integration of travel, expense and other financial systems.
According to recent Aberdeen research, the following integrations are key to enabling success:
- Online travel booking provides a real time view of current travel against corporate budgets, spend is captured faster and real time visibility is available when it’s needed rather than at month’s end.
- Corporate card integration creates a holistic process for expense management, and the complete picture of company T&E spending.
- End-to-end T&E management helps organizations connect critical data, streamline processes and more easily manage the T&E lifecycle.
- Mobile T&E apps enable more convenient expense creation, submission and data entry, empowering business travelers and providing more accurate reporting and greater visibility to leaders.
- Expense management as part of a broader financial suite, which connects Travel, Expense and Enterprise Resource Planning (ERP) data in a single location.
Not surprisingly, the impact is even greater when key supplier and partner connections expand outside the four walls of your business. By connecting partners and optimizing analytics, organizations can reach the next level of success.
Learn how you can improve your Travel and Expense Program by attending our webinar “Enhance your Travel and Expense Program: Integrating Your Ecosystem”, on Thursday, January 22nd 2015 at 10:00am PT | 1:00pm ET.
Join Louis Berard, Senior Research Analyst of Global Supply Management at Aberdeen Group, Patrick Taylor, CEO at Oversight Systems, and Tom Shea, Director of Product Marketing at Concur, to discuss these findings and to learn how to apply them to your organization’s approach to T&E management to create increased visibility and economies of scale. Register today!