Many companies today have customers, partners and vendors in faraway places from their headquarters. While technology is helping people collaborate remotely, without having them to travel to faraway places, the most effective form of communication continues to be face-to-face meetings. Because of this, for many professions today, business travel has become the norm, and with that arises the need for a company to have a grip on its business travel expenses.
While CFOs want to put a lid on the travel expenses, the sales and marketing teams clamor for more travel to bring in more sales and revenues for the company. Thus, the CFOs need an effective tool that would help them have control over all the business travel expenses.
With a travel and expense management software at hand,companies can cater to the needs of employees while still saving money. With such a software, an elaborate and all inclusive travel policy can be formulated which dictates all the guidelines for a business trip. This eliminates various issues such as: