Travel and expense management service provider ExpenseAnywhere announced the launch of a new, sophisticated platform for T&E management in India, making the company the first in the nation to provide such a portal.
According to ExpenseAnywhere, which is headquartered in the U.S., its new ExpenseAnywhere Portal is breaking down T&E management barriers in India though its use of cloud technology. The platform automates expense management, aids in online travel booking, and provides revamped transparency into corporate spending through real-time visibility into spending on transportation, hotels, foreign currency exchange and travel insurance.
“Companies in India are ready to embrace the tools and technologies that can automate their processes and reduce their costs,” said ExpenseAnywhere President Dr. Ashok Dhar. “We are encouraged by the overwhelming response from business in India and anticipate substantial growth in headcount and revenue from our India operations.”
Dhar added that the Portal makes ExpenseAnywhere “the first in India to launch a highly sophisticated ExpenseAnywhere portal.”
The service is also reportedly connected to all GDS airlines and low-cost carriers, making it easier for managers to book corporate flights both within India and internationally. The portal also includes live availability information regarding hotel vacancy. The tool offers the ability for employees to submit a “Cost of Travel” quote for approval by their managers before they leave for a business trip, while the system validates all travel data then automatically generates an expense report.
ExpenseAnywhere Portal is also accessible from any mobile device, the company said, and integrates with existing travel management companies used by businesses.
The digitization of travel and expense management processes is often a significant pain point for employees. A recent survey conducted by KDS revealed that in the U.K., employees waste hours producing spreadsheets and expense reports; a separate study found by PayStream Advisors discovered that on average, a business pays $26.63 to process a single expense report. Together, these researchers agree that the development of digital, automated and mobile-friendly expense management tools eases the friction of T&E reporting.
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