TechnologyOne launches new Travel & Expense Management software
TechnologyOne has released new software to automate the travel and expense process from claim to payment and has already signed up eleven customers, enabling them to save hundreds of hours and reams of paper each month, while improving cost control, accountability and compliance.
The new solution uses an integrated approval process for travel requests and expense claims, helps customers with Australian Tax Office (ATO) travel allowance compliance, allows use of the International Air Transport Association (IATA) codes, and integrates all credit card transactions in one system.
This allows managers to gain a total view of all expenses, frees up employees to focus on core business, rather than spending hours filling out forms and copying receipts, and eliminates the need to merge different data sources, which is time-consuming and prone to error.
TechnologyOne Executive Chairman, Adrian Di Marco, said the new solution, which can be used alone or as part of TechnologyOne's integrated enterprise-wide suite, was designed to meet customers' needs.
"Our customers told us they wanted to manage the complete travel lifecycle in the same system as their expenses, and integrate it with their finance solution - we developed TechnologyOne Travel & Expense Management because no other software can provide the end to end functionality," Mr Di Marco said.
"Travel and related expenses, like meals and accommodation, usually account for around 10 per cent of total operating costs and are considered to be the second largest controllable corporate expense after salaries.
"But many organisations have no way of knowing if they are managed properly or if employees are endeavouring to save where possible - now they have an easy way to do this," Mr Di Marco said.
Among the eleven customers taking advantage of the Travel & Expense management solution are Newcastle University, the High Court of Australia and the Department of Climate Change.
TechnologyOne reinvests around 20 per cent of annual revenue back into research and development (R&D) and employs more than 350 software developers in its new global headquarters, as part of its commitment to meeting its customers' needs.