| Solutions |  |
Expense Management | |
Travel Booking Integration |
Expense Management: Travel Booking Integration
A 360 Degree View
CyberShift has worked closely with our clients and has performed extensive market research to understand what capabilities are needed to maximize the value and benefit of integration between travel booking and expense management systems. Unlike other vendors that are focused on creating marketing hype, our aim is to deliver solutions to real-world client needs. Our research showed there is a strategic need to integrate travel booking and expense management, but only as long as it did not cause additional work or confusion for the traveler. Essentially, organizations need actionable data that can enable them to make better policy decisions and identify areas of nonconformance, while also streamlining the process from travel planning through expense reimbursement. Clients are looking for answers to the following questions:
- What was booked (travel booking) vs. what was actually spent (expense management)?
- Are employees following policies in place; are they using the booking tool; are they upgrading after the fact; are the booked rates actually what was expensed?
- Are preferred vendors delivering on negotiated and booked rates?
The challenge is to bridge the information gap between the corporate travel booking and expense management solutions with little user impact.
Our Vision
CyberShift's vision reflects what we learned from our clients and the market. We provide an open platform so that organizations can use the booking tool of their choice with CyberShift's expense management product options. In that way companies can realize the benefits of an integrated solution without being forced to change from an already trusted supplier. For those organizations who may not have such relationships in place, CyberShift has partnered and integrated with best-of-breed travel booking tools, and from a product capability viewpoint we are focused on providing meaningful and actionable data that our clients really want.
CyberShift's Solution
Our approach does not burden the traveler with additional reconciliation tasks, but moves these requirements to an automated back office function that delivers meaningful and actionable data to our clients without causing inconvenience to the end users. To support the offering, CyberShift has developed a consolidated back-end reporting portal that consolidates booked transaction data and actual business expense data from CyberShift's Necho Expense™ product. Now, mid to large sized enterprises can strategically and proactively manage business expenses and business travel at the same time without adding extra work for the business traveler.
Necho Expense can be launched directly through the booking system, providing users with convenient access to their expense reports. Booked transaction data is automatically matched with actual expense data based on a number of key parameters. This seamless integration of booking and expense data into one consolidated repository offers tremendous quantifiable benefits to employers as well as convenience to employees.
With the combined power of Necho Expense and travel booking integration, administrators in accounts payable, finance, procurement, travel and other key departments can manage policies, amount and type of spend and leverage preferred providers while gaining deep insight into employee business expenses and spending patterns. Back-end data is populated from source systems and available for analysis on a regularly scheduled basis. This data reveals critical metrics that allow organizations visibility into their employees' business expenses so that they can take proactive steps to reduce overall spend through improved policy communication or shifting market share from one supplier to another. Key reports and analysis have been created to provide detailed information including: variance reports that identify booked expenses versus actual expenses; total spend booked but not expensed; total spend expensed but not booked, matched transactions and users not using the booking tool.
CyberShift's extensive expertise in the fields of Workforce Management and Expense Management allows us to offer advanced technology, multi-faceted functionality and flexible deployment options, including both license fee and On Demand (Software-as-a-Service) models to meet an organization's needs.
Contact us to learn how you can put The CyberShift Advantage to work for you!
