Wednesday, September 11, 2013
Automating Business the new Face of Technology
Many of the business today are turning their back for the expenses of the company that they have. Every expense in the company must need to be listed but somehow some of the employee dis obeys it leading the company in the bad situation. Every entrepreneurs and managers of the business are keeping the eye in expense reports of the company optimizing their expense reporting software toward the specific needs and tasks of their company.
Larger corporations are beginning to take advantage positive benefits that can come when they integrate their expense management systems with travel booking applications and other relevant tools, according to a report from the Business Travel News Expense Manager Survey. The poll found that 45 percent of respondents had integrated their travel and expense report systems with online booking, up from 34 percent recorded during the previous year. Six percent reported that they planned to install such technology over the course of the coming year.
"More companies are asking for T&E expense integration," said Anne Marie Razza, the vice president of products and strategy at Orbitz for Business. "Corporations are interested in the data analytics possible as a result of having both a T&E system [and a booking tool]. When they're integrated, [companies] get access to that data faster than they would independently."
For business owners and managers, the most important factor is the ability to track and verify costs as they occur in real time. Verifying a large amount of expenditures at one time makes it much easier to make mistakes, but when tracked in real time, improper costs are much more noticeable. With automated expense reporting software from Certify, individuals can log costs via their mobile phones as soon as they receive their receipt, and managers can track the costs beginning the very moment the image of the receipt is uploaded into the cloud.
"Now you're not just taking that $5 million [of spend] and signing your signature on an Excel spreadsheet and issuing checks against it," said Anthony Wessels, vice president of marketing at Coupa. "Now you're actually optimizing, looking at spend as a whole, taking the spend power you have and saving the company money.