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October 7, 2020

The End of Expense Management & Expense Reports

While serving well beyond their years and value, expense management and the expense report saw their final curtain calls when TripActions announced its latest innovations with TripActions Liquid™ during the virtual T&E Summit TRAVERSE 20.

Expectedly, no one mourned the loss of expense management or expense reports. Quite the opposite as smiles spread across the virtual crowd of TRAVERSE 20 attendees when TripActions Co-founder and CEO Ariel Cohen and TripActions Liquid™ GM Michael Sindicich spoke of the shift to modern T&E management and their vision for a world with “No Expenses”.

Until today, October 6, 2020, employees at companies of all sizes, industries and geographies saw expense management and the expense report as a necessary evil. Now, with modern T&E management from TripActions available to everyone, business travelers, finance leaders and travel managers can rid themselves of the hassles and frustrations of expenses and gain hours back to focus on higher priority, strategic initiatives in their roles and businesses.

As if it wasn’t troublesome enough on its own, the expense report was known for fraternizing with outdated, legacy expensing tools. Together, they disrupted the productivity of employees and managers, while wreaking havoc on finance leaders trying to gain visibility and control over their company’s spend. They made it near impossible to institute the automation desperately needed by companies. While other aspects of corporate management sped ahead into the 21st century, the expense report kept finance leaders and employees stuck in time. It squandered their money and time making the entire process from purchase to reconciliation painful and inefficient.

As the only end-to-end T&E management platform that helps businesses large and small easily and efficiently manage the entire T&E and business spend ecosystem, TripActions Liquid provides employees with a refreshingly easy way to pay for what they need while giving companies one place to better control, manage and track business spend. With physical and virtual cards, smart approval workflows, automated expensing and centralized billing, TripActions Liquid streamlines the entire process for business spend and delivers a comprehensive, unified solution for travel, payments, expense management, corporate cards and reconciliation.

Good riddance to traditional expense management and the dreaded expense report, and welcome to the modern era of T&E management and ‘No Expenses’.

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