Travel Expense Management

Travel and travel related expenses are amongst the top 3 controllable expense lines for most large corporations. Travel is a key component to business success, business development and its consequent success. Rising travel and entertainment costs are attracting significant focus and have become a prime target for implementation of strategies to reduce and better manage such expenses. International markets have matured in managing such expenses and are now focusing on internal compliance with policy and preferred supplier usage.

While overall airfares have dipped and are more flexible than ever before air travel, the volume of corporate travel has increased significantly. Similarly hotel spend is spiraling upward owing to a combination of an increased no of trips and unbridled increase in room rates. While the current recessionary economic trend has significantly reduced travel spend it will not be long before the market will return to levels of buoyancies witnessed in the 2007.

We work with you in following areas of Travel Expense Management:

• Implementation of  an effective travel policy
• Consolidation and  optimize of travel volumes with relevant  suppliers
• Monitor traveler behavior and compliance to policy
• Streamline billing and payment processes to minimize administrative intervention
• Regular reviews to determine resultant savings
• Procurement card analytics

In order to successfully reduce travel and entertainment expenses corporations need to be familiar with spending patterns, and existing processes. Solutions must also be easy for your employees to use ensuring rapid adoption and improvement in employee productivity.