Key Factors Driving the T & E Market

With each passing day, significant trends are evolving in the travel and expense industry. Here’re a few trends that are driving the T & E market today.

Mobility and User Friendly Applications

Mobility has become an important factor to consider when it comes to enterprise applications. On the other hand, user experience is also becoming increasingly important in T & E industry. Employees look for user-friendly applications whereas businesses want to integrate compliance into mobile solutions.

Cloud technology enables businesses to access the enterprise solutions round the clock from any location in the world. Applications should be integrated with compliance options so that you’ll not only have control over what is being spent but also ensures that everything is going as per the company’s policies.

Growing Market

Companies that have used spreadsheet-based systems or other homegrown solutions are switching to expense management applications as implementation is easier and cost-effective compared to traditional ERP systems. Deploying modern solutions will help you make informed decisions always and enable you stay ahead of the curve.

Intelligent ERP Solutions

Travel and expense management solutions are now able to sync with backend solutions. In fact, many solutions are using machine learning to automate repetitive tasks. These applications will allow businesses to make informed decisions on travel, in addition to allowing you to sync and stay complaint with businesses in terms of flight and hotel suggestions. This way, ERP solutions make processes faster while letting you adhere to the company’s policies.

Travel in Emerging Markets

In some regions, the T & E spend does not imply the actual spending that is happening during business travel, which means T & E software has not yet implemented in those regions. Deploying online expense report software can help businesses stay in tune with emerging markets.