Company business trips & Expense Management
Updated: Apr 4
Business trips can feel like a hassle when there's lots of paperwork for your employees to fill out before and afterwards. It shouldn't feel like one though, because it's supposed to help employees feel motivated and inspired and do productive work instead of worrying about their budgets and the rules that they may or may not fully know.
Here, we will break down how to simplify this process and how to return the excitement and encourage your employees to take these business trips, bringing back a better work environment.
1) Rules and Regulations
As long as you have a simplified set of rules and regulations on which procedures employees need to follow, you decrease their stress and uncertainty about taking business trips to help your business.
The set of rules you set should include many things from the minimum and maximum amount the business can reimburse them for their expenses such as their transportation, accommodation and daily expenses, the number of hours per day you require them to be doing your work, keeping the receipts, the proper attire they need to wear to attend overseas meetings, a report based on how the business trip went and why they think it was beneficial for the business to have made the trip.
Whether your employees need to book a flight, a train or travel by car depending on the distance to their destination, the time taken by each employee to check the hundreds of online websites and platforms that offer tickets which are endless, can be wasted doing so.
Therefore it's important for you to define a few trustworthy platforms to ease up the procedures and have the ability to better track the flights and their detailed information.
Depending on where you are situated, a few of the trustworthy platforms include:
Accommodation is even more difficult to trust than transportation. Specifically when your employee is travelling to a different country or a different continent. From hidden tax rules to fraudulent advertisement online, it can definitely be hellish.
You can definitely offer options to your employees and make their life easier. Below, are a few options which accommodation options across the world:
4) Daily Allowance / Expense Reimbursement
Another expense for your company will be the expenses your employees have to make by being in a new city or country. You can go about this in two different ways:
a) To define a certain amount of money per day ( ex. 50 €)
b) To reimburse them for expenses such as their meals and transportation
By reimbursing them for expenses, you definitely have to define the range you'll pay.
For example they should consider taking public transport upon availability, instead of taking taxis or there should be specified range of restaurant for them to have their meals in. However, as a company, you should definitely allow them to enjoy themselves and not restrict them too much. For example, instead of defining the type of transport you should define how many times a day you can reimburse them for taking a taxi or the range of what you can reimburse for their meals.
5) Means of Payment / Receipts
Aside from the bigger expenses that was mentioned above, it's also important to define the means of payment.
Whether you can provide them with company credit cards to better monitor their expenses or asking them to provide you with the receipts of what they paid in cash or their bank statements and receipts on what they paid with their personal credit/debit cards.
6) HASLLE: Tool to manage their expenditure
- Real time access to how much budget you provide them,
- How much budget they have for each category during their trips,
- Simplified budget approval procedures if they are in an immediate need of a budget raise
- A seamless expense management experience
Haslle is not only a tool to simplify expenses for your employees, but also a way for businesses to track how much an employee is spending and to have real time analysis of their budget and expenditure.
Follow us over at https://www.haslle.com/blog so you don't miss a blog!