It’s safe to say that no one likes filling out expense reports. No one. It either takes time away from getting your job done, or, if you’re like most people and end up doing them after hours, it takes time away from doing the things you love.
It’s no party for the finance department, either. There are entry errors to deal with, deadlines to enforce and endless management hassles.
So yes, automating expenses is a good thing. But what software is right for your business? Which solution goes beyond the automation of expenses to include travel in the equation? Which travel expense management (TEM) application gives employees tools they want to use while adding overall value to your business?
This highly detailed report points out the differences between top TEM performers and offers a number of insights. Key findings include:
- Cloud-based SaaS offerings generally offer the most functionality.
- The ability to meet industry and country-level requirements varies greatly among TEM providers.
- Although ERP providers are making an effort to improve TEM tools, TEM specialists outperform them with focused innovations.
- Most providers offer digital receipt capture via mobile or tablet, but it’s what they do with that image that makes the difference.
- Finance and procurement teams are still focused automating and enforcing spend policy, but this shouldn’t negatively impact the end-user experience.
There isn’t one right answer for everyone, but there is one that stands out.
Gartner makes a number of recommendations in the report—from seeking a SaaS solution to making usability a key selection criteria. The report also highlights which vendors are going above and beyond to offer:
- A sharper focus on small to mid-sized businesses.
- Innovations in Duty of Care.
- Advancements in mileage tracking.
- A partner-platform ecosystem that covers travel, expense and invoice in one place.
Gartner Market Guide for Travel Expense Management Software, 08 May 2017 -
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