Travel and business are the inseparable entities. Business travel is the journey for the purpose of business. Locomotion has become quite a common phenomenon in the business nowadays.
Business travels comprise the purposes and task; this differs from industry to industry and below is the list of general purposes of business travels.
Visiting customers and suppliers
Company meetings at different locations
To represent company in conference or exhibitions
For marketing and sales promotion
To meet and build new partners
Amount paid to the employee for business travel expenses is the Business Travel reimbursement. Journey expense reimbursements are usually paid as separate cash reimbursements. On producing accurate bills and poofs organization should pay back the travel claims made by the employee.
challenges travel reimbursement
Type of expenses
Dining and accommodation expenses
Challenges of travel claims
Travel claims and reimbursement looks simple but processing them involves a lot of paperwork and cumbersome processes. Below are the common challenges that occur while claiming and reimbursing travel expenses.
Receipt management is ever a challenge for both the employees and the employers. Travel claims loose legibility without the receipts and bills. Managing the receipts are the big challenge for the finance and HR departments.
Payment approvals hierarchy delays the payments which affect employer’s loyalty. This long claim cycle makes the reimbursement process tedious and time-consuming.
Physical bills, receipt management, missing bills and mismatch reports, approval systems make the reimbursement time-consuming. This will consume a lot of time for finance and HR department.
Travel claims are mostly payroll independent; this increases the burden of the finance department and increases the cost of financial management.
Missed bills and mismatch reports always lead to lack of visibility. Lack of visibility leads to wrong claims which prove expensive for the organizations
Claiming for personal travels and expenses are the common type of false claims. Employee commits these while claiming travel expenses.
To reduce the difficulties of claiming and reimbursing the travel expenses, companies should think of upgrading the technology. This should give a connecting link to traveling employee and their activities.
Generally, companies conduct audit’s to reduce the issues of false travel expense claims. This cannot become the source of truth to make eligible claims.
Below are the solutions that can reduce issues of travel claims and optimize the reimbursement process.
Mobility with features of time & location tracking along with sharing real-time reports gives the best solution to eliminate false claims.
Automatic calculations of reimbursements as provided by the employee avoid report mismatches and provide visibility for the travel claims.
Payroll integration of claims and automation will save time and cost of financial management and HRM. This will make the process of reimbursement easy and less time-consuming.
Automated simple approval systems will provide easy reimbursement process for the employee. This will ensure the timely payments.
To Get More details visit https://getspot.in/2018/01/02/challe...ent-solutions/ From India, Bengaluru
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