Navigating the travel expense challenges: How Ascent Travel and Expense Management System ensures efficiency
From ensuring adherence to company policies to tackling fraud and streamlining reimbursement processes, the complexities of travel and expense management can often become an uphill battle for businesses. The need for a comprehensive solution that seamlessly addresses these challenges has never been more pressing.
Enter Ascent Travel and Expense Management System (T&E), a transformative platform designed to revolutionise the way organisations overcome these hurdles.
Common travel and expense management challenges
Keeping up with changing company policies
With frequent changes in company and business landscapes, it can be challenging for organisations to keep their travel and expense management processes updated and aligned. Businesses often struggle to find a T&E system that is agile enough to keep up with organisational policy evolutions, causing operational problems.
Fraudulent expense claims and duplicate entries are other challenges organisations face. This can lead to inaccurate reimbursements and impact overall budgetary allocations. Finding a travel and expense management system that can detect and flag such irregularities is critical.
Inefficiencies in reimbursement processes
Traditional reimbursement processes can come with their own set of challenges, causing delays and frustration among employees. Inefficient reimbursement processes and long manual approval systems can affect productivity and employee satisfaction negatively.
Lack of real-time insights
Data-driven decision-making has become a cornerstone for efficient operations. The absence of real-time insights into travel spending can hinder transparency and strategic financial planning.
Accessibility while travelling
Accessing expense management systems while on the move presents a significant challenge for organisations. Travelling employees often find it cumbersome to interact with the system in real time. Moreover, most traditional travel and expense management systems do not allow for modification of plans during the journey. This is a big pain point for the travelling employees as dynamism in itineraries is quite common.
The Ascent T&E solution
Ascent Travel and Expense Management System is built using critical user feedback and addresses all these common operational challenges faced by organisations.
Configurability to company policies
Ascent T&E addresses the challenge of policy evolution with its highly configurable system. Tailored to adapt seamlessly to unique organisational policies, the system ensures that travel and expense management aligns smoothly with company practices.
Real-time expense tracking and spending insights
Offering real-time visibility into travel spending, Ascent T&E makes monitoring and analyzing expenditures seamless. Insights into spending patterns empower businesses to make informed financial decisions and optimise their travel budgets.
Strong anti-fraud controls
Ascent T&E incorporates robust anti-fraud controls to prevent duplicate entries. By strengthening the integrity of the expense management process, the system safeguards organisations from financial fraud.
Expense claims on emails and faster reimbursement
Ascent T&E streamlines the reimbursement process. It allows for the submission of expense claims via email- Expediting the timeline, reducing administrative burdens, and enhancing overall employee satisfaction.
Mobile compatibility with iOS and Android
Recognising the mobile-centric nature of contemporary workforces, Ascent T&E ensures accessibility for users on both iOS and Android devices. This mobile compatibility facilitates accessibility and management of travel expenses on the go.
Flexibility to modify travel plans while travelling
Acknowledging the dynamic nature of travel plans, Ascent T&E offers users the flexibility to modify their plans in real-time. This feature accommodates unforeseen changes, providing a level of adaptability crucial for modern business travel.
Dashboard for comprehensive cost insights
A centralised dashboard within Ascent T&E provides comprehensive insights into team, project, client, or trip-wise travel costs. This feature enables organisations to monitor and manage expenditures efficiently, fostering transparency and accountability.
Integration with ERP/accounting system and tax compliances
Ascent T&E seamlessly integrates with an organisation’s existing ERP and accounting systems, streamlining data flow and ensuring accuracy. The system is also designed to comply with current GST and other tax regulations, digitising tax-related tasks, negating manual interference, and enhancing productivity.
Robust flagging mechanisms
Ascent T&E proactively issues warnings against policy violations and flags them, reinforcing adherence to organisational policies.
Switch to Ascent Travel and Expense Management System today
Ascent Travel and Expense Management System is a strategic tool that simplifies processes, enhances overall operational efficiency, and addresses the intricate challenges faced by organisations in managing travel expenses.
Moreover, it offers unparalleled ease of migration from your existing T&E software. This, coupled with reduced cost of ownership, ease of use, and features designed to alleviate specific pain points, makes Ascent T&E the transformative solution for organisations ready to navigate the complexities of travel expense management with precision and ease.
To know more or to request a demo, connect with our team today.