Travel & Expense Management Software Selection Guide
Stephanie Dula 10 Mar 2015
Travel and Expense Management Software is one of the most accessible and effective office-process automation tools available today. Through secure and automated expense reporting, traveling employees operate with more compliance and efficiency, and organizations gain greater control over spend and improved overall productivity.
The latest in TEM software offers a wide range of functionalities that optimize out-of-office business operations. When searching for the right TEM solution, it is important that organizations are fully aware of what they can gain from expense reporting automation. An organization should review TEM features on a basic and an advanced level.
Basic level TEM features run through pre-trip planning, mid-trip expense reporting, and post-trip reimbursement and analysis. At the very least, a TEM solution should include these basic level functionalities:
• Pre-trip approval
• Travel booking features
• Receipt scanning and attachment capability
• Mobile expense reporting functionality
• Approval workflow
• Direct deposit
• Expense analytics
Next, competitively-minded organizations should evaluate a TEM solution based on advanced level criteria. These features, offered only by the industry’s leading technology developers, take an organization to the next level in terms of expense reporting ease-of-use and employee control. Advanced TEM capabilities are largely geared towards improving existing TEM features, and they include:
• Real time integration and expense reporting
• OCR receipt capture
• Increased payment card integration
• Advanced Mobile functionality
• Global adaptability
• Advanced approval automation with real-time functionality
• TEM auditing and advanced analytics
For more information on the full scope of T&E capabilities available, download our Travel & Expense Management Software Selection Guide. This guide was designed to help organizations prioritize their needs and determine their own must-have features when navigating the complex TEM marketplace.
