The costs involved in corporate travels, whether traveling, lodging, food, taxi rides or any other item, can represent significant amount for a company. That is why it is very important to have control over these expenses through travel expense reports (also known as RDV) and good practices, of course. It is a fundamental document for the manager to keep track of these expenses, which can even be classified as “investment” that the company makes to boost sales, creating priorities and setting goals.

To begin with, it is essential to define which expenses are for company´s responsibility and therefore reimbursable, and which expenses are not reimbursable, so if they occur they will be for employee’s responsibility, or to be discussed on a case-by-case basis. Generally, corporate expenses are described in the company’s travel policy, which is a document with clear, up-to-date rules and guidelines for the employees to travel to other cities, states or countries. It is understood as corporate expenses, air or road tickets, accommodation, transfers, meals with customers, among others. Personal expenses (laundry, expenses with minibar, hairdresser, etc.) are to be borne by the employee, if they occur.

Generally, the companies establish a maximum amount that can be spent as reimbursable expenses, the necessary evidences (invoices, receipts, bills, card invoice), deadline to settle and how this refund will be made.

What should the travel expense report look like?

The document must be standardized and have as much information as possible. Information such as the name of the employee, department, purpose of the trip, destination, travel time, hotel name, room category, all items consumed and their quantities from minibar among others, which can generate analytical reports for possible savings on the next trips. For example, when a commuting occurs very often to the same destination, it is possible to try to establish some kind of partnership with a hotel chain, through differentiated daily rates.

Make use of technology

Some software allows the traveler to settle these expenses quickly and conveniently. By this tool, the company is able to automatically control expenses and analyze your travel history. The ideal is to connect this system to some travel management platforms so that the corporation can have a single view and a centralized process of the entire flow of the trip.

You may have already realized how critical travel expense reporting is to a company’s financial health. It can be a good allied in your strategy, data measurement and in addition to preventing losses in corporate travel.

Are you having some trouble controlling your corporate travel expenses? Would you like to receive a free assessment of your processes for possible improvement? Get in touch with one of our experts.