How can we reduce travel expenses?

It is really not difficult for travel management to achieve the goal of reducing fees in 2023.

Looking at the development of enterprises, we should not only look at the present, especially entrepreneurs who value long-term value. We must look at the future of the industry from a longer-term perspective. It is still the strategic theme of many enterprises in 2023 to open up sources and cut down expenses, throw away some useless burdens to reduce burdens, and then go into battle lightly to find new growth points for enterprise development.

The consumption expenditure of enterprises, which mainly focuses on travel, procurement, meetings and welfare, seems subtle, but it is easy to cause huge waste over time. With the end of the epidemic and the rapid recovery of business, the travel expenditure support of enterprises is welcoming a substantial increase. Then, how to manage travel expenses in 2023, so that enterprises can achieve real cost reduction and efficiency improvement?

Exchange quantity for price

Centralized purchasing to improve bargaining power

To control the travel expenses of enterprises within a reasonable range, we must first understand where these expenses come from. Generally speaking, the cost of business travel consists of explicit cost and implicit cost.

Explicit costs include transportation, accommodation, catering reservation, refund and other expenses and management expenses of the financial department, while implicit costs include labor price comparison, approval, reimbursement, irregular process and other costs. If you don't pay attention, you will lose a lot of money in one or several links.

Under the decentralized procurement mode, each supplier's purchase volume is not large, and it is impossible to obtain preferential prices. Centralized purchasing reservation can help enterprises gain greater bargaining power and reduce costs.

Yi Sheng Kong Feiyun integrates the essential products for enterprise travel according to the needs of enterprises, and provides standardized interfaces for air tickets, hotels, cars and train tickets, which can be directly connected with airlines, hotel groups, online car booking platforms and catering platforms, and is more competitive in price than the original agreement hosting model. The quotation of the same product can be displayed in the same dimension on the platform, and employees can fully compare the price when booking, so as to control the procurement cost from the source.

Prevent overspending

Budget execution is more important than preparation.

Enterprises often plan their consumption cost in advance through the budget, and deduct and manage the budget when reimbursing.

However, the traditional financial budget often has the problem of time lag in the use of expenses. After submitting the reimbursement, it was found that the budget was insufficient, which led to the conflict of cost control and often cost overruns. It is required that the platform must have standardized management of the whole process from budget preparation, budget execution to budget monitoring, and the function of flexible response.

By controlling the cost, the problem of budget overrun has been well solved. Before going on a business trip, employees of the enterprise will automatically check whether their budget is enough to book the selected business travel products. If it is not enough, they can do power control, add budget, terminate the process or allocate budget, and strictly control the budget in advance.

Employees will automatically check the budget, freeze the budget in real time and pre-control the budget after booking air tickets, hotels, train tickets, cars and insurance products. Yi Sheng Feikong Cloud supports over-budget approval or online payment, and orders are transferred to consumption after payment or purchase. Employees can also check the budget progress at any time on the platform, understand the personal quota, control the expenditure, and prevent the situation of exceeding the budget.

Regular preposition

There is evidence that the trip was not good.

Strengthening compliance is the premise of saving the cost of travel control. Travel compliance includes event compliance, process compliance, standard compliance, billing compliance and document compliance. The survey shows that enterprises in China regard "cost saving" and "compliance" as important indicators when making tourism plans. If there is compliance risk, even if the booking cost is reduced and the efficiency is improved, the company's cost loss will increase.

We observe from the data that by embedding each rule in the travel platform before each booking and consumption, employees will pay more attention to the preset travel standards during each booking and consumption, which will significantly reduce the passive behavior of exceeding the standard. Because they abide by the rules, unnecessary travel expenses are controlled.

In addition to controlling applications and appointments, Yi Sheng Feikong Cloud also strengthens compliance verification in reimbursement and bill review.

In the process of reimbursement, through a series of compliance checks such as invoice OCR identification, duplicate checking and authenticity verification, the efficiency and accuracy of employee declaration are greatly improved.

After the reimbursement documents are submitted, the platform can also check the compliance of the corresponding documents according to the preset verification rules to ensure that all the data that can enter the financial end are reasonable and compliant, and save the cost of travel management from the perspective of strengthening compliance.

Improve human efficiency

Optimize the process to the extreme

Boosting travel management is a systematic project, which involves the whole process of financial processing before, during and after, and often requires repeated communication between administrative, business and financial departments. To reduce the cost of management and control, we must improve the efficiency of the process.

Yi Sheng Feikong Cloud integrates with related internal systems of enterprises. After the integration, you can log in quickly through the unified portal, unify the portal application and facilitate the pending approval, reduce the number of employees' operation and approval nodes, and carry out pre-related control with the budget, including the integration of online consumption scenarios and the pre-control of travel standards, effectively control all behaviors that exceed the standard, and the purchasing unit pays uniformly, and employees within the standard do not need to contribute.

Extreme reimbursement automatically brings in the order data and automatically calculates the subsidy amount. From front to back, there are applications in advance, consumption in the event, and reimbursement afterwards. The whole process is closed-loop. Financial auditing has also become simpler. The platform can automatically open accounts, reconcile accounts and settle accounts quickly. It can also directly generate financial accounting data and push it to the enterprise financial accounting system to realize the whole process management and improve the efficiency of travel management.

Shandong provincial finance will further reduce travel expenses by 30%.

In the notice issued by Shandong this time, strict implementation of the tax reduction and fee reduction policy is one of the key points. Strengthen the supervision of enterprise-related fees and charges, strictly prohibit the collection of "excessive taxes and fees", illegal tax collection and inflated income, never increase the burden on enterprises by charging fees indiscriminately because of the prominent contradiction between fiscal revenue and expenditure, and do not illegally assess and rank the fiscal revenue of lower-level governments to ensure that the reduced taxes and fees are reduced in place, so that enterprises can effectively enjoy the policy dividend.

References:

1 China government network Shandong provincial finance will further reduce travel expenses by 30%

2 Yi Sheng science and technology? It is really not difficult for travel management to achieve the goal of reducing fees in 2023.