Travel expense has been a major responsibility and a difficult task for many finance executives over the years, yet it appears there haven’t been any significant developments in making the process easier. Whilst not only just improving the entire travel system as a whole, Mobilleo aims to improve each individual sector of travel management, financial expense being included within this. Hidden costs are constantly leaving finance executives bewildered as to where their money is headed, with the right platform such as Mobilleo, these costs can be greatly reduced and better accounted for.
Many finance executives are left with a poorly optimised recording system that leaves many expenditures unnoticed and off-the-record, this can lead to a lot of unmanaged money over a long-term basis. Using Mobilleo’s integrated budget management and summary invoicing you can receive entirely accurate and detailed reports on what has been spent and exactly what it is has been spent on all the way down to toll charges and micro-journeys.
Having an inbuilt invoice system that can track a number of users at once is an incredibly useful tool as it removes the inaccuracies of a business traveller calculating their own expenses and reporting their own documented travel to a finance executive. Reducing the amount of unmanaged expenditure is critical towards having a more accurate financial report, allowing in the future for these unnecessary travel expenses to be moved towards other priorities. Consolidation of invoices and payment methods is immensely more time and cost-efficient than having to total up expense manually over a multitude of invoices.
The aforementioned integrated budget management system is another revolutionary aspect to the Mobilleo platform. All users can be set a budget that limits them from making bookings above that amount, by using this effectively a finance executive can manage travel expenditure with a lot more accuracy alongside constantly and reliably maintaining company policy.
Research formulated from The Aberdeen group suggests that the average cost to process a single export will average around $20.65 which roughly equates to £16.10 per expense invoice made. This is taking into account time spent by each individual to formulate and manage this summary and although it may seem like a small expense, when considering how often employees travel and the number of journeys each of them take, this can quickly add up to a large practically hidden cost. By using Mobilleo, the time spent on managing invoices is greatly reduced resulting in less money being spent on managing invoices and expenses.
Mobilleo also features live dashboard functionality, allowing any user to get real-time updates on their travel and its respective bookings. With live updates a finance executive will have a much easier time managing and tracking expenses. An untold number of hours are spent by finance executives having to chase receipts and managing a business travellers travel expenditure alongside out of pocket expenses. When placed alongside other responsibilities, finance executives would be pleased to reduce the amount of effort it takes to collect expense reports for travel.
As travel technology continues to develop and sectors see huge improvements towards efficiency, it is important that we develop all related sectors alongside this. With the introduction of Mobilleo, companies will not only see significant benefits in the way their travel operates, but also see other areas of business begin to improve in turn such. For example, as the finance sector gains the free time that was previously spent managing travel invoices and expenses, it can begin to focus more heavily on other areas of concern and relieve the workload of the executives involved, making their operations run smoother and more accurately. Mobilleo does more than just adapt and improve your travel structure, it affects the efficiency of your business as a whole.