Why All-In-One T&E Management Beats Multiple Integrations
Managing travel expenses can be a major undertaking across an organization—not only for the employees on the road, but also for the admins and finance teams responsible for keeping track of expense reports, policy compliance, reimbursements, budgets, and forecasting.
Good news! Technology that automates the travel expense process including booking within budget, report approvals, receipt tracking, reimbursements, and budget management and forecasting is available to streamline tasks and save time.
In addition to enabling employees, managers, and finance teams to stay focused on other projects, it also makes administrative tasks related to travel far easier to manage—as a result, business processes improve and everyone is happier. What’s even better, is that TravelBank offers a one-stop shop for everything related to managed travel and without the need for separate integrations to manage booking and expenses respectively.
Automated Expenses and Expedited Reimbursements
Automated expense management saves time for both the employees capturing the expenses and the finance team tasked with processing them. For employees, the TravelBank app enables receipt photo snapping, scanning technology to backfill details, credit card syncs, and more. Once entered, machine learning expedites the categorization processes of the expenses.
At the end of a trip, employees are able to submit their reports with a quick tap or click, and their manager is notified that a report is pending approval. After manager sign-off, the finance team is able to quickly audit the report and approve for reimbursement.
From a reimbursement perspective, employees are able to securely add bank details to TravelBank, allowing for expedited direct deposit reimbursement—and depending on policy, money can hit bank accounts in days instead of weeks.
Customer Spotlight: JumpCut
Speaking of reimbursements, JumpCut, a video production company that makes mind-blowing online courses, initially selected TravelBank for its easy reimbursement processing. The company was using another expense solution and having a less than stellar experience.
“We found it to be a very poor user experience and multiple employees were complaining about Expensify. Many people hated the clunky platform, specifically how time consuming it was, and the complicated UI/UX. Some employees even chose to skip receiving reimbursements, and just lose the money, in order to avoid using the platform altogether,” explained Jennifer Leshkevich, former director of people and culture, currently producer, Jumpcut.
In addition to expense reporting and reimbursement, they needed the help of a travel management company to handle bookings for both employees and candidates, track expenses, and manage budgets.
Now, with TravelBank, expense management runs parallel to the travel experience, making it easy to track and submit reports. Expenses are automatically created for any travel booked in TravelBank, completely eliminating the effort required to add expenses one by one in another app. The process of submitting for reimbursement is now significantly quicker and easier, saving time for Jumpcut employees.
To read the full story, including the challenge, solution, and results, check-out the JumpCut case study, found here.
One Integration to Handle T&E is Better for Business
Unlike many solutions on the market today that use product integrations to manage travel and expenses, TravelBank offers a one-stop shop. The benefit? Everything your business needs to manage travel and expenses seamlessly from 24/7 agent support to built in expense tracking. Our user-friendly technology manages the entire T&E spectrum—from booking, to expense reports, travel policy compliance, reimbursements, budget forecasting, and more.
If you’re seeking to improve your business travel program, an all-in-one travel and expense tool is a great place to start. Employees in every department impacted by travel will thank you, we promise!
Time to get the ball rolling? Let’s schedule a time to chat!