Having software in place that will automatically red-flag anomalies or non-compliant spending helps to make sure budgets are being followed and drastically reduces employee fraud.
Dallas, TX (PRWEB) June 05, 2014
The current economic climate has placed tighter financial demands on today’s corporations. Decision makers are tasked the tough goal of trying to cut costs without reducing efficiency or revenue. As a result, corporate travelers are under pressure to be increasingly more careful with their spending and to comply with travel policy.
Timothy D. Garcia, founder and CEO of Apptricity, provider of mobile enterprise software solutions, has identified four ways that companies can trim costs using automated expense management solutions for travel without hurting the ability to do business.
1. Negotiate. “Negotiating special rates and benefits for your corporate travelers will help companies save big on the travel budget and give employees a better idea of who they should contact to make travel arrangements,” said Garcia. “Establishing contracts with specific hotel chains, airlines and car rental services leads to special group rate discounts.”
2. Use your contracts. “Make sure your travelers are using the appropriate vendors to receive discounted rates,” said Garcia. “Rogue travelers that handle their own arrangements will make it more difficult to accurately follow a company budget. Using an automated expense management solution can help serve as a reminder for travelers who make their own arrangements.”
3. Minimize waste. “One of the most crucial elements of getting the most out of your travel budget is making the most of your travelers’ schedules,” said Garcia. “If travelers have to spend time tracking receipts, keeping up with spreadsheets and submitting everything for approval, they’re losing valuable time and generating no revenue for your business. Automating your travel expense management processes will increase efficiency by speeding up and streamlining the process.”
4. Set spending limits. “Set reasonable spending limits for your corporate travelers and implement the means to ensure they are sticking to that budget,” said Garcia. “Having software in place that will automatically red-flag anomalies or non-compliant spending helps to make sure budgets are being followed and drastically reduces employee fraud.”
To learn more about Apptricity’s automated expense management solution, please contact an Apptricity representative at 214-596-0601.
Apptricity Corporation provides mission-critical supply chain management and integrated finance solutions to Fortune 500 companies, small and midsize enterprises and government organizations across the globe. Apptricity software and solutions mobilize any enterprise with unprecedented levels of real-time information and business intelligence so management has visibility into every action and transaction within the enterprise and among its partners, customers and suppliers. Jetstream, our revolutionary platform, enhances legacy enterprise applications and extends the value of information technology investments. Apptricity Jetstream, Apptricity Smartfleet and Apptricity’s other applications address the universal objectives of business, government and the military with accelerated business processes and command visibility. For more information, visit http://www.apptricity.com.