How to rethink T&E tools

SINGAPORE, 16 October 2020: Digital transformation is a vital consideration for businesses looking to drive growth as the Covid-19 pandemic presents a rare opportunity for large corporations to update Travel & Expense management tools, ahead of business travel recovery claims an Amadeus study released Thursday.

To shed light on the need for businesses to rethink their travel and expense technologies Amadeus commissioned Forrester Consulting to conduct a study, titled ‘Digital Transformation For Travel & Expense: Balancing Process Efficiencies, Compliance, And Employee Experience’.

Through an in-depth survey of over 550 T&E decision-makers at large enterprises globally, complemented by in-depth qualitative interviews, the study identified key steps that travel firms should take on board.

Takeaways 

Outdated systems are widespread. Even large companies rely on basic systems to manage travel and expenses.

The improvement of T&E is a key objective for business leaders. Three quarters (74%) of respondents agreed that improvement of T&E management processes and tools is critical to reducing costs and increasing efficiency.

Integration of tools is key to solving T&E issues. Of the companies without an integrated T&E tool, only one in 10 had zero complaints from employees.

Travel managers desire integrated solutions that tackle content fragmentation.

Finance leaders report significant positive business impacts from integrated solutions.

HR leaders have a front-row seat to employee issues caused by poor T&E processes.

IT leaders focused on best-in-class solutions.

Procurement leaders search for standardisation of T&E to drive digital transformation.

The full report can be accessed via the link here.

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