Pop quiz: When is an all-in-one T&E solution not truly all-in-one?
Many T&E solutions call themselves all-in-one. But dig a little deeper and you’ll discover that many “all-in-ones” actually involve two (or more) companies that have stitched their products together. That might mean separate TMCs and OBTs for travel, disparate expense platforms and credit cards for expense, or two entirely separate entities for travel and expense.
Why is this a problem? First off, the more players involved, the bigger the chance that something could go wrong. And when that happens, it’s a good bet that each company will blame the other. Another issue could be that the platforms don’t fully communicate with each other, so the overall solution lacks functionality and insights. The result can leave customers frustrated and confused.
While that’s bad enough, disparate T&E solutions can also result in downsides like wasting company money. After all, the more companies involved, the more companies there are that will want a cut of the profits. And when management fees go up, of course, your company’s profits go down. Plus, that higher cost may come with lower utility. The lack of communication between platforms can result in a lack of automation, so employees may have to manually approve transactions, track receipts, and handle reconciliation.
More work and more money — and that’s just the beginning of the downsides. See more of them in the Navan guide, 5 Ways Disparate T&E Solutions Hinder Companies.
Here’s the good news: There’s a way to avoid these problems.
We envisioned and built Navan to be a true all-in-one T&E solution. From booking travel to swiping cards and reconciling expenses, our solution enables companies to reap the benefits of more streamlined processes and deeper insights. And when new technologies arise (hello, generative AI), we don’t have to compromise when creating new functionality. We can build, test, and integrate features quickly and effectively, so our customers can save even more time and money.
The bottom line: Your company’s next win begins with Navan’s all-in-one.
Read more about how Navan can help your company save money and streamline operations in our guide, 5 Ways Disparate T&E Solutions Hinder Companies.
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