Business Travel Way, part of SLG and American Express Global Network, is one of the largest Travel Management Companies (TMC) in United state. Our core activity is related to Business Travel, handling air, hotel, car and rail bookings.
travelPro American Express in collaboration with its Partner N2F offers an expense report management application which is the most efficient and secure way to digitize and centralize data in complete security.
As a business grows, the number of expense reports multiplies. If their management remains feasible manually for very small businesses, when it comes to the SME stage, that's another story! To gain in productivity, but also in security, SMEs have every interest in adopting an expense report management application.
An essential tool essential in SMEs, but Excel has some limitations, particularly in the management of expense reports.
The classic management of expense reports on an Excel table leads in its wake to both multiple manual entries and a lack of flexibility. For employees and accountants alike, this is a perpetual waste of time with a processing time for each expense report that can exceed 30 minutes! The former must collect their supporting documents, scan them, have them verified, while the others must verify them in turn, enter them several times, then integrate them into their database.
As for the refunds, it gets longer to the point where the average is now 30 days between the issuance of the note and its refund. Your employees should therefore not expect to be refunded the same month as their expenses. This can of course be problematic, even a ground for litigation, in the event of the advance of significant costs.
The manual entry of figures is particularly tricky and errors abound. Whether in the entry itself or in the calculation, 1 in 5 expense reports on average must be rechecked.
For the time spent by each employee and accountant, an expense report alone costs the company 53 € according to a study by the Global Business Travel Association. If, in addition, its entry contains an error, it will cost you an additional 48 €. Not to mention that it is not always easy to see that the limit is exceeded and that the recovery of VAT on expense reports is often approximate.
Among the common abuses of the most listed employees, we find: mileage costs, voluntary duplications, or exceeding the ceiling. These frauds happen to the nose and the beard of SMBs who do not use automated management solutions that detect suspicious expense reports and alert accountants.