To truly take off on a global scale, businesses need to ensure absolute balance and synergies across all their locations. Thanks to advanced T&E management solutions like Peri, engaging with travel vendors, employees, and clients, has become easier than ever. Looking at the fast-paced market, it has become utterly necessary to modernize manual processes and streamline back-end operations. Implementing cloud-based applications like Peri increases the efficiency and effectiveness of travel and expense management.
In the long run, costs involved in managing expenses, bills, invoices, and receipts can significantly hinder an organization’s growth plans. Be it a small/medium enterprise or a white-collar behemoth, striking the right balance in budget allocation proves to be a critical factor in deciding whether the budget is laying a healthy foundation for a growing business or paving a path to an economic crisis. With applications like Peri, the benefits outweigh the cost, and the ROI is prominent, recurring, and has a positive snowball effect. This is why T&E Management solutions play a pivotal role in making data-driven decisions.
Here are five reasons why your company needs to revolutionize the process of travel and expense management:
Greater visibility and a data-driven approach
Dedicated cloud-based solutions make it easier to get an eagle-eye view of the organization’s financial performance at any given point. Manual reporting and filing of expenses can expose the company to a high probability of redundancy or clerical errors. Peri modernizes this process with its broad spectrum of features, eliminating all possible chokepoints to deliver accuracy.
Solutions like Peri are highly flexible and can adapt to organizations of various sizes and types. With easy integration options, linking to ERP software is seamless. In addition, the customizability of such solutions accommodates policy frameworks and tax structures just as quickly.
Deployment of Peri eliminates the repetitive parts of the approval processes. Traditional approval processes take a lot of time. For example, imagine a scenario where you have raised an expenditure ticket that involves an external vendor. After filing the expense, the vendor company gets purchased or decides to change the name. In this case, the employee has to repeat the entire process. With its digital approval workflow, mobile application, and real-time push notifications, Peri eliminates this tedious part of the process resulting in direct saving of time and effort.
Greater efficiency and vigorous operation
Implementing an online solution like Peri removes the frivolous aspects to minimize general ledger coding errors, maintain timely payment processing, and sync with compliance & regulations to increase operational efficiency.
Keeping in mind the longer run, the ability to get actionable insights that seamlessly fit the current mandate to facilitate an agile, technologically updated, and cloud-based administration is a dream come true for any CFO. Peri can help convert this dream into reality.