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Why ERP Integration Is Key For T&E Software

2 minutes reading time

Travel expense software

What can you do to decrease your travel expenses? You may be surprised to find out that a key differentiator is integrating your enterprise resource system (ERP) and expense management solution.

What is the impact of integrating your ERP system with your expense management solution, you ask? According to research by the Aberdeen Group, the impact is clear:

  • Costs related to expense processing decrease by 33%
  • The rate of compliance with travel policies increases by 34%
  • Reimbursement is 35% faster

Integrating your ERP software with your expense management solution positively impacts all business processes. Below is a look at the importance of integrated systems, and the benefits for your business.

The power of integrated ERP and T&E

By integrating your ERP system with your expense solution, you overcome challenges that T&E managers face with regards to keeping travel costs under control and business travellers happy.

  • Don't waste time with manual processes. Integrate and automate your solutions to gain the power to identify new saving opportunities.
  • Increase travel policy compliance by automatically preventing and eliminating fraud and human error.
  • Get better visibility with your aggregated data and identify new opportunities.
  • Gain more control through better data. End-to-end expense management integrated with your ERP improves decision-making with real data.
Challenges of travel expenses

Integrating your ERP with your expense management solution presents three main benefits for your company.

1. Informed decision-making for spend

Lack of visibility into company spending at management level can lead to exceeding budget. It also makes it difficult to take immediate action, as the information is always delayed, not real-time.

Integrating your ERP solution with your TEM allows you to access data from both sources and extract valuable insights. Based on the data from your Finance department and your business travellers, you can make informed decisions that benefit your business. And control your spending.

2. Better cashflow management

ERP software integration with your expense system provides you with a real-time view into your cashflow. This allows you to take immediate actions to remedy over-spending. It also allows you to make overall better, more informed decisions with your money.

Maybe more importantly, it allows you to immediately spot attempted fraud or human error, before it has the time to become a problem.

3. Decreased travel costs

Combining your ERP solution and expense data with your expense policy increases your purchasing power. Indeed, having more data enables you to make better deals with vendors, leading to higher savings. Knowing where your employees are spending money during business trips helps you take advantage of economies of scale. And gives you more negotiating power with your travel vendors.

Integrating your ERP system with your expense solution is easy and efficient, with the right partner. While not all solutions are ERP or HR-agnostic, Mobilexpense can integrate with any solution. Get in touch with us now to discuss your expense needs and find the best solution for you.

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Posted on 30 Oct 2020

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