Why ERP Integration Is Key For T&E Software

2 minutes reading time

Travel expense software

What do other companies do to decrease their travel expenses? You might be surprised, but one of the key differentiators is an integration between two of the most important software solutions in your company: the ERP system and the travel and expense management software.

How big is the impact of this measure? Well, looking at a research from the Aberdeen Group among companies that leverage integration between ERP and T&E management solution, it looks like the impact is very important for the success of your management actions:

  • The costs related to expense-processing decreased by 33%
  • The rate of compliance with travel policies increased by 34%
  • The reimbursement was 35% quicker.

The integration of your ERP system with your T&E solution impacts not only your travel manager's activity and results, but also has a positive impact on all the departments and all the levels of management in your company. To learn more about the importance of integration, let's look at the combined power of these two softwares and the real benefits for your business.

The combined power of ERP and T&E

Integrating these two vital technologies in your company helps you overcome a lot of challenges that managers from all over the world face when it comes to keeping travel costs under control and business travelers happy:

  • All the time and money wasted with manual processes disappears once you integrate and automate solutions, and it gives you the power to identify new sources of savings;
  • Travel policy compliance increases as it provides you with all the features you need to prevent and eliminate fraud and human errors;
  • You will obtain the level of visibility you need to identify new opportunities as all the data is brought together once the two softwares are integrated;
  • Lack of data means lack of control, but as you choose an end-to-end expense management system and you integrate it to an ERP, you can be sure that your decisions will be improved and sustained by real data.
Challenges that the best-in class companies face when managing travel expenses

With this, we can conclude that ERP integration with your Travel Expense Management solution has three main benefits for your company:

1. Informed decisions

When you and other managers in your company have no visibility over the travel expenses, you can easily fall in the trap of exceeding your allocated budget, making it very hard for your to take immediate action. An integration of your travel expense management tool with your ERP solution enables you to see data from both sources and obtain valuable insights. Based on the data from your finance department and your travel team, you can make informed decisions that allow you to gain control over travel expenses.

2. Cash flow

ERP integration with travel expense management brings you a better view over your cash flow and allows you to take immediate action, such as taking advantage of a limited offer for your team's next business trip, knowing the status of all accounts.

3. Travel costs

Combine the data from an ERP solution with your corporate travel policies and your business plans and you will generate an increased purchasing power. Integration between the two softwares gives you more details regarding the savings you can start making, the changes among your vendors and the way money is spent on business trips, among others.

Integration with ERP solutions is an efficient process when your travel management software supplier is an open partner. If you want to take this important step towards a new improvement in your travel expense management, be sure to collaborate with a company that understands your needs.

Posted on 30 Oct 2020