Changing Travel Industry with Electronics

It is no doubt that the technology today plays a big role in our life like in the business they are considered to be essential in every aspect of the firm. The concept of business travel has changed rapidly in the past five years. With shrinking corporate budgets, stricter spending policies, and many more challenges facing traveling employees, organizations are changing the way they approach sending individuals on the road. Joe Bates, vice president of research at the Global Business Travel Association, recently spoke to Newsday about how this entire segment of the business world is currently experiencing major cultural shifts.

"Companies realize that there's probably never - or not any time in the near future - where we'll return to the wild and free spending days we saw in the late 90s and early part of this century," Bates told the news outlet. "[Now organizations are] more savvy with respect to monitoring and tracking the amount of money their travelers are spending."

One of the ways that organizations are becoming more savvy about monitoring the money spent by their travelers is by using automated expense reporting programs. These programs allow employees to upload and track their costs as they occur during a business trip. Not only does this prevent the employee from having to save and manually enter data from all of their receipts, but it allows managers to get a "real-time" look at expense reports. This expense management technique allows managers to take a proactive step toward better controlling the amount spent during business trips. If an accountant or executive sees that a large amount is being logged during the course of a trip, they'll be able to inquire why, and possibly limit it, before the trip is even over. Contrast that to the past - when the out-of-proportion costs wouldn't even be reported until the trip itself had come to a close.