As business travel continues to pick back up, companies need to ensure their travel and expense management processes are ready for the demand. Travel and expense management is a process that monitors spending and streamlines the way employees expense work-related costs, like travel or office supplies. 

Traditional travel and expense management once required many messy, tangible documents. But modern tools, like a Human Resources Management System (HRMS), have considerably advanced travel and expense management. 

An HRMS system allows employers to develop expense policies and define the types claimed by employee or employee groups directly in the software. It also handles all recept submissions, while an expense dashboard creates, validates, or rejects them in just a click. Can your HRMS system do all of this? If not, it is time to explore your options. 

10 Features Your HRMS Needs for Travel and Expense Management

Investing in an HRMS is a great way to improve processes and save considerable time. But your HRMS must include the right travel and expense management features, too. Here are a few features to look for in your research: 

• Define expenses day-wise, month-wise, and other options
• An employee self-service portal
• Set your privileges with custom forms
• Add expenses online
• Raise travel requests anytime, anywhere
• Submit travel bills online or offline
• Rich configurations depicted for expenses based on specific criteria
• Easy integrations and reconciliations with various systems

10 Ways HRMS Improves Travel and Expense Management

Managing travel and expenses is challenging, even on a small team. But the right HRMS platform streamlines travel and expense management like never before. It does so in the following ways: 

• Easily manage and track business travel expenses
• Include any employee travel or stay expenses
• Manage employee expenses toward the company
• Generate a complete overview of the expenses
• Manage online any travel or expense requests
• Deliver automatic notifications for any expense requests raised
• Streamline entire expense management to make it more effective
• Receive automatic notifications on the status of reimbursements
• Save overall time
• Increase cost-effectiveness

Discover the Power of Oorwin

Oorwin’s HRMS offers you all the above-mentioned features and much more to give your HR teams an added advantage to streamline your travel and expense management  processes. But the benefits don’t stop there. With Oorwin’s Human Resource Management System you can:

• Increase employee engagement
• Manage and allocate assignments over a single-window with automated reminders, real-time tracking, and easy task generation
• Build a positive workspace culture
• Organize all employee documents in one place with our dynamic folder management with automated expiry reminders for compliance
• Automate the finance operations and invoicing methods based on the countries.
• Improve productivity with modern time cards, timesheet reminders, exportable reports, and built-in OCR to scan invoices
• Digitize the processes from employee onboarding to project completion