An outdated travel policy can create unnecessary complications for employees and lead to financial waste for businesses. Here are five tips to update your travel policy and ensure it is up-to-date and effective:
1. Review and update your policy regularly: Travel policies should be reviewed and updated regularly to ensure that they reflect changes in business needs, travel trends, and employee feedback. Consider conducting a policy review every 12-18 months to ensure your policy remains current and relevant.
2. Use industry benchmarks to determine best practices: Look to industry benchmarks and best practices when updating your travel policy. This will help you to identify areas where your policy may be falling short and to incorporate best practices from other companies in your industry.
3. Get employee input and feedback: It is important to involve your employees in the policy update process. Gather feedback from employees on their experiences with the current policy, and use this feedback to identify areas for improvement.
4. Simplify your policy language: Complex and confusing policy language can create confusion and hinder compliance. Simplify your policy language and ensure that it is easy for employees to understand and follow.
5. Consider using technology to streamline processes: Using travel and expense management software can help to streamline processes and improve compliance with your travel policy. Look for software that includes features such as expense tracking, automated approval workflows, and real-time reporting to help manage your travel program more efficiently.
TrackEx is a cloud-based travel and expense management tool that enables employees to easily arrange work-related travel while also tracking expenditures, users and roles, auditing, quick reimbursements, and compliance via well-structured reports and real-time data.
Other features to be considered include:
1. Scan Receipts Effortlessly While Traveling TrackEx's Optical Character Recognition (OCR) technology is based on AI and machine learning. It can scan and recognize information on an invoice (such as currency, date, and bill number) and populate appropriate fields, removing the need for manual data entry. Employees can also complete cost reporting in only a few clicks.
2. TrackEx Mileage Tracker manages your corporate travel expenses the way you want them. Also, by simply merging your QuickBooks account with TrackEx, you can receive all of your information in one location and reach 90% compatibility level integration.
3. Scale and configure the T&E program to increase compliance 3X Streamline per diem expensing process by fixing daily allowances for your corporate travelers based on your company's preferences or use default country rates using the TrackEx per diem module to ensure full tax compliance.
4. Enhance Employee Engagement Through an Employee Management Program The Employee Travel Benefit Program gives employees access to discounted airfare and hotel accommodations. Corporations can provide this low-cost benefit to their present employees and, more crucially, their families with minimal effort. The most unique aspect of TrackEx is that it provides a custom-built solution for all of your issues, regardless of your diverse needs. For additional information, schedule a 90-day free trial or visit TrackEx .