Companies are suffering from legacy expense management solutions, but they don't have to be.
On average, it takes 6.4 days for finance leaders to close their books at the end of the month, and there is a one in five chance expense reports will contain errors or missing information. On top of that, employees can wait anywhere from five to 20 days for reimbursements to hit their accounts.
Unsatisfied with these statistics, TripActions became the only all-in-one travel, expense management, and corporate card solution on the market that works synergistically to streamline every aspect of company T&E. But it's not just TripActions customers reaping the benefits of an all-in-one solution; TripActions employees utilize its capabilities daily to book travel and to reconcile, reimburse, track, and enforce policies.
In the guide, How TripActions Uses TripActions to Streamline Travel and Expense, readers can see how TripActions integrates into every aspect of a road warrior's journey and a finance leader's process. Whether booking a flight, buying a coffee, submitting a receipt, or flagging out of policy spend, TripActions is there every step of the way.
Post-pandemic, corporate business travel saw a spike in bookings with business travelers back in action across the globe. In fact, the first quarter of 2022 saw the kind of hyper-growth that is more familiar with pre-pandemic conditions.
To keep things moving, TripActions allows managers to set policies ahead of time for corporate card limits, per diems, and business expenses so travelers can spend in-policy confidently. These same travelers can also search, book, or even change upcoming trips in seconds. Road warriors can rely on real-time travel updates, alerts, and reminders right from their phones and easily connect with travel agents and support with the click of a button.
With the integration of TripActions Liquid, employees never need to submit an expense report again. Curious how TripActioners are eliminating expense reports? Download the guide to find out.
As for those leading the charge in accounting and finance teams, because in-policy expenses are automatically approved, leaders and admin can focus on other tasks and only step in when an expense is flagged. With the most relevant information available in TripActions dashboards, company spending becomes more accurate, agile, and intuitive, boosting a company's bottom line.
"I spent 50% of my time processing accounts payable and 50% of my time reviewing expenses," said Jenn Schuster, accounts payable specialist. "TripActions automates so much of the process, but it doesn't take away from my ability to still take action on any transaction we need to."
See the entire journey—and why companies are making the switch—in the TripActions Guide, How TripActions Uses TripActions to Streamline Travel and Expense.