Experience Self-Driving expenses at Connect 2016
Posted by Ivo Totev
You’re planning a regular trip to see a customer in San Francisco. This requires an overnight stay, and train travel with a taxi at either end. At the end of the trip, your expense report is automatically issued including the taxi fares, your hotel accommodation and meals. All you have to do is confirm the details are correct. How? Self-driving software analyzed patterns in previous expense reports like your usual hotel and favorite restaurant, information in your calendar, your GPS location, emails, and social media. All you did was book the travel and photograph a few receipts. The system or app determined everything necessary to complete the reimbursement form: time, place, amount, client, expense codes, everything.
This vision of software that makes our lives easier is becoming a reality and one that will change the workplace forever. Travel and Expense Management (TEM) is a significant contributor to employee (dis)engagement so it’s important companies get this right. It’s a global issue but let’s look at the U.S. as an example. Forty-two percent of professionals think their expense claims system takes advantage of them. According to research Unit4 commissioned by Ruigrok | NetPanel, the estimated cost of unclaimed expenses every year by US employees could be as much as $9.7 billion. Workers are failing to claim money they are owed. And while you may think bosses are benefiting from this, our research shows it’s a huge source of resentment that has a measurable impact on employee engagement. And it costs far more through recruitment and employee engagement programs that it could ever add to the P&L. Workplace engagement expert Karlyn Borysenko states the average cost of replacing a high-level or highly specialized employee is a whopping 400 percent of their annual salary.
Unit4 is changing the face of enterprise software and making it self-driving and people friendly. We’re building systems that work for people in service-centric organizations. At Unit4 Connect 2016 in Amsterdam (April 5-6) delegates will see and be able to test drive our self-driving travel and expense solution. To register for the conference, please visit www.unit4.com/connect