"For every dollar a company invests in business travel; they get a return of $9.50 in revenue and $2.90 profit."
A recent study by Oxford Economics revealed the above insights. These numbers only go to prove how vital business travel has become in today's times.
There is no denying business travel gives positive returns. But it is also a known fact that travel management is not an easy and straightforward task. It involves filling up forms, keeping everyone in the loop, controlling finances, and making sure everyone complies with the set travel and expense policies. This can lead to a lot of back and forths and miscommunication. But how do businesses actively address these travel-related problems?
Today, expense management technologies have invested their time and effort to streamline travel approval workflow for businesses. In this article, we will see how Fyle, an AI-powered expense management software, takes care of all your travel woes.
Let’s get started!
With an expense management software, travel plans and arrangements get streamlined under a unified system. If an employee has to go to a different city for business-related travel, he can quickly notify all the concerned people. All he/she needs to do is fill the trip request form with all necessary details and sent it for approval.
The approver on receiving the travel form can review the form and then come to a decision. With a trip request form filled with all necessary requirements, it becomes easier for travel agents and admins to follow through. All this can lead to a swift and smooth preparation for business travel.
A trip request form is a simple way for an employee to provide all the necessary travel-related details. It also makes it easier for the manager or approver of the traveling employee to access all the trip details in one form. This provides them with enough acumen to make necessary accommodations for their traveling employees.
The trip request form contains:
If the employee requires accommodation for the travel period, they can request it via the trip request form. All they have to do is select the “Add hotel” box. Once done he/she can then provide details such as check-in and check-out dates along with preferred locality and number of rooms.
Ensure your employees specify whether they are traveling by bus, flight, train, or taxi on the form. When an employee chooses “Add transportation” for the trip, he/she can choose which mode of transport they prefer. The preferred time of travel can also be specified via the form.
If the traveling employee thinks he/she will require additional cash during the trip, he/she can send a request for a cash advance. By selecting “add advance,” the employee can specify the currency, amount, and purpose for the advance.
When a trip request is submitted, the approver can take a number of actions on it. If everything looks right, he/she can also approve it right away.
What can you do with Fyle’s trip request feature?
Different departments travel for business. The grade of employee traveling also differs. Hence, one policy cannot fit for all. Also, not all of the employees may opt for hotel bookings or cash advances. Therefore, preferences may also differ from employee to employee.
To mitigate this problem, Fyle helps configure policies based on:
Fyle as a travel approval software makes sure all the trip information is collated and presented with clarity. We help eliminate the bulky email thread associated with a trip request. We also make it easy to streamline your entire travel approval workflow.
How can Fyle's trip request feature help you?
We do much more than just streamlining your travel approval. With Fyle, you can keep up with all your employee’s trip request. You can also make sure preparation for the trip is taken care of seamlessly. All your employee's pre-trip worries can also be eliminated. This means your employees can be more focused. Schedule a demo today to know more!