Effective Global Travel and Expense Management Compliance

4 min read
Mar 22, 2023
Effective Global Travel and Expense Management Compliance
7:53

Worldwide, an estimated 445 million business-related journeys were made each year before 2020.

For strategic and financial reasons, the distances travelled for work are increasing again, with locations such as India, Indonesia, Sweden, and China growing in significance according to the Global Business Travel Association.

Companies with internationally distributed workforces and staff who regularly travel from country to country can be faced with significant accounting and control issues. With travel by car and rail picking up, cross-border global travel and expense management compliance should be addressed.

How is it possible to remain compliant and factor in real-time national variations whilst on the go?

Mobilexpense: a full-scale travel & expense management solution

Close to two million users find that Mobilexpense is the perfect solution for global travel and expense management compliance, expense control, accountability, and hassle-free expense handling for employees.

Our innovative SaaS system enables real-time calculations on tax rates, allowances, and mileage variations seamlessly, as well as proportioning daily lump-sum allowances and cash advances, making our global travel and expense management solution dependable and agile.

Our expense functions meet true global expense report compliance requirements across 70+ countries, as highlighted in one of IDC’s MarketScape Reports. We are proud to serve our customers in over 100 countries worldwide.

Our combined legal resources include publications and software, allowing our data to be continuously reviewed and updated by our internal Compliance Department using the latest exchange rates, tax variations and international expense guidance. We are supported by PwC.

The team behind the Mobilexpense app have applied their knowledge and expertise to formulate solutions that highly benefit our customers. We understand the travel and expense industry, including compliance regulations, and the complexities of global compliance. Our change-proof platform is invaluable to employers facing increasingly large and complex bills for travel costs and associated expenses, but also new expenses such as those related to home working.

We are able to fulfil the need for easier expenses from anywhere in the world. Our team is ready-available to attend to your needs.

Real-time & cloud-based reporting with superb international compliance coverage

Keeping track of your business expenses with the latest technology is becoming increasingly important, particularly for staff who need to book and pay for international trips online.

Need to record, calculate, and report expenses whilst on the go?

Our cloud-based platform makes it easier for both employers and employees to support seamless expense accounting. This is because Mobilexpense is backed by up-to-date financial data, VAT rates, allowances, and currency exchange.

Other travel and expense management solutions are unable to factor in changes to the user's location, which can be a costly drawback. With Mobilexpense, from the moment your team member steps foot in a new country their train, hotel and meals are recorded.

It is no surprise in today's market that technology related to expense tracking and reimbursement (such as OCR and mobile banking) is on the rise. Fulfilling expense-related tasks on the go using our mobile apps allows for even faster and more accurate processing.

As well as ensuring up to date compliance in 70+ countries, Mobilexpense also offers end to end transparency and control, meaning that your policies and business rules are integrated into the solution.

Our compliance coverage includes relevant business rules, GL accounting and local tax laws for companies. For end-users, it includes mileage, allowances, and exchange rates, among others.

Every allowable expense can be input and instantly calculated internationally, across several key fields. This includes relevant currency rates and local tax, making accounting and VAT reclaim far easier, too!

Real-time exchange rates, for all our users

Our customers can alter the currency for instant conversion calculations, and, to date, we have over 170 integrated currencies. We reinforce accuracy for our customers at all times. By carrying out our reports and updates daily, and using the right tools to avoid data error, we guarantee that you are always working with trusted real-time exchange rates.

We help users track actual spend, making it possible for users to easily record rates that have been paid on the go. We highlight differences, and clear notifications are automatically issued following rate deviations. For example, we enable our users to record the difference between the current exchange rate and the rate applied on making a card payment.

This allows for very effective and accurate recording.

Mileage

Using Google Maps, accurate mileage rates are always calculated. Our platform factors in both company and private vehicles, including an odometer function which effortlessly separates business and personal travel.

Allowances

Including the date, place of origin and destination, Mobilexpense seamlessly ties allowance claims to country-specific rules and currency shifts, including the rate history.

Value Added Tax

The wealth of data that supports Mobilexpense includes VAT recovery rules for the countries of greatest significance to our customers. This makes your accounting and compliance functions more accurate, and VAT payment and recovery more straightforward.

Health Care Provider Transparency Pack

We understand the complexities of reporting for international travel and expense costs in health care trades. We are aware of regulations such as the Loi Bertrand and the Sunshine Acts.

Our solution for global travel and expense management can be configured to meet all company compliance needs and official regulations.

The advantages and peace of mind offered by Mobilexpense's T&E solution

Having fingertip compliance control over global travel and expense management offers far more than ‘just’ convenience and transparency. It helps you avoid stringent penalties and falling foul of international tax laws.

Mobilexpense also optimises accounting time and administration as well as managing national and international travel expenses in a manner that leads to substantial cost savings.

Open solution, fully adaptive

Our intelligent solution integrates with your existing ERP, payroll and business travel booking systems for seamless and swift set up and operation.

Global compliance

Entries on the application are instantly matched to company policies for reclaiming travel costs and other expenses, taking into account local currency and tax in over 70 countries.

Hassle-free solution for happy employees

The company and its employees can be far more confident that claims are thoroughly recorded, checked, and reported for accounting and compliance purposes.

Cost effective

Save on time with our global travel and expense management solution that comes with the advantage of ongoing usage support and advice from our team. Our system helps easily record and report on travel costs making keeping up to date records infinitely less stressful. Having this level of instant recording of cross-national expense claims makes swift reimbursement far more likely, too.

Here at Mobilexpense, we understand current and future international business trends. The most significant advantage of our fully compliant global travel and expense management solution is the way it effortlessly integrates with local regulations and tax processes.