Functionality of Travel and expense management

Functionality of travel and expense management

Travel management (CTM) is the function of managing a company strategic approach to travel. It also negotiations with the all vendors, day-today operation of the travel expanse management program, traveler safety security. Travel Management faces of challenges in today dynamically changing priorities of customers and suppliers. Now a day demand of customer is changing on the basis of day to day so according to that travel and expenses management has to change their process to full-fill the all basis requirement of the customer. Price elasticity is leading to all-time low customer loyalty increased customer expectations is leading to the commoditization of travel; multiple channels to reach customers directly is making travel management organization compete with suppliers directly. To overcome these growing challenges the companies are looking for agile and superior customer support from a committed solution provider to reduce operating costs and also be a partner in its mission .Most of companies travel and expenses costs represent the second highest controllable annual expense, exceeded only by salary benefits, and is commonly higher than IT and/or real estate costs.

Enavexpense product are not only limited to travel (airline, rail, Hotel, car rental, ferry/boat, etc.) but it also include all costs incurred during travel such as staff client meals, taxi fares, gratuities, client gifts, supplies (office supplies and/or services), etc. Furthermore this area often included meeting management, traveler safety security as well as credit card and overall travel data management .Many business people do not care for managing expense in a systematic way. A lot has changed since earlier days when the only way to reach customers was to visit them personally.

Tremendous evolution in technology has led to the boom of mass advertising through TV, Newspapers, and Radio. Web conferencing technology is being used to reach customer at low cost. Companies hire managers for the to manage their expenses and find out ways to control their cost.

Expense solutions are critical components in an organization’s business strategy to control costs, increase employee satisfaction and improve bottom line performance. Enavexpense is a global leader in expense management, with its Expense solution, automating the processing and facilitating the management of employee business expenses, the second largest controllable expense after payroll. Expense Management provides the most complete and configurable full-service solution for expense management and automation.

The basic strategy of the is that major focus area for companies, especially in view of the recent economic downturn and increasingly strict regulation on corporate governance. With the right policy, processes and systems in place, significant gains can be made in terms of efficiency and savings, as well as improved compliance.

Enaviya Offers , and .

Post Footer automatically generated by wp-posturl plugin for wordpress.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.