Getting a handle on corporate travel and expense management can feel like navigating a maze. From balancing budgets to coordinating smooth trips, travel and finance managers oversee countless details without a clear roadmap.
The good news? You don’t need a massive team or a huge budget to set up a streamlined system that supports your team’s needs and goals.
This guide outlines practical, approachable steps to make corporate travel and expense management more straightforward, efficient, and user-friendly.
Corporate travel and expense management involves more than just tracking costs; it’s about ensuring that business travel aligns with company goals, employee safety, and budget constraints. A streamlined, well-managed T&E process increases compliance, reduces the risk of errors, and improves the end-to-end corporate travel experience
Those factors can help businesses reduce operational costs and provide employees with the tools they need for productive travel. The key to implementing robust T&E strategies lies in developing comprehensive travel policies and leveraging modern technology to automate and optimize the process.
A comprehensive travel policy forms the backbone of a practical corporate travel and expense management program. It provides clear employee guidelines and covers everything from booking procedures to expense reporting.
Here are the core elements that a well-structured travel policy should include:
The goal should be a clear, consistent travel policy — one that empowers employees to make informed decisions and aligns corporate travel activities with broader company goals.
Download a Free Corporate Travel Policy Template
Technological advancements have revolutionized corporate travel and expense management with tools that streamline processes, improve compliance, and reduce costs. Here are the key technological trends transforming the T&E landscape:
Incorporating best practices into corporate travel and expense management helps companies reduce inefficiencies, control costs, and create a seamless experience for travelers. Here are some actionable strategies:
Tech company Quickbase switched from another solution to Navan’s complete travel and expense management offering and slashed 70% of its manual expense approvals, giving employees valuable time back.
“I can see any hot spots in the budget and get ahead of them. I never had that ability with Concur,”
said Seth Yaniv, Sr. FP&A Analyst at Quickbase.
With business travel’s steady growth, incorporating modern solutions into a T&E program becomes essential. A well-structured travel policy and the latest technological solutions can significantly improve operational efficiency and employee satisfaction. By adopting best practices and staying ahead of emerging trends, businesses can simplify their T&E management and achieve long-term success.
Ready to simplify your corporate travel and expense management with a modern, all-in-one T&E solution? Book a demo.
This content is for informational purposes only. It doesn't necessarily reflect the views of Navan and should not be construed as legal, tax, benefits, financial, accounting, or other advice. If you need specific advice for your business, please consult with an expert, as rules and regulations change regularly.