T&E Policy’s Implementation and Oversight: Is Technology the Answer?

When it comes to T&E Policy it doesn’t matter how well written and elaborated it is, getting your employees to follow it is another matter. In the matter of T&E Policy’s implementation and oversight, there are several other things a company need to take under consideration, starting with “do my employes know about my Travel and Expense Policy and how can I oversee it”?

Putting an expense policy into practice and providing sufficient oversight is key to a successful travel & expense process. When you use a line-by-line expense app like Rydoo’s, you can insert your rules into the app, allowing you to keep track of employees’ expenses in real-time and receive alerts when a travel or expense request is entered that doesn’t comply with your policy. The employee will see this immediately, allowing them to contest or withdraw. And given the sheer volume of transactions that come through many finance departments, accurately validating everything by hand can be close to impossible.

You can set up rules that automatically flag expenses contra to your company’s investment policy. If some rules only apply to some groups within your businesses, or even some users (excluding senior staff that may have higher allowances or branches of your business that have specific requirements), you can set a rule that applies only to them. And, of course, you can set rules for the whole business.

You can create the conditions for the rule, be it a time period, receipt or amount. Then, you’re free to choose the category to which the rule should apply – dinner, fuel, gifts, petrol etc. How much can be spent is the last rule to apply. And for those working across borders, alerts can be triggered on amounts over a specific threshold.

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When a rule is breached, you can decide how to proceed. This can include showing a warning in the employees’ expense app. If a rule is breached, you can also decide that it is legitimate and within the policy, but control the process manually so you can make all the relevant checks, as opposed to allowing the expense to be processed automatically. The app can also create counter expense claims if more has been spent than usually allowed. Spending €60 where only €50 is allowed will create a counterclaim of €10. It is up to then up to those reviewing the claim whether this extra €10 is expensed back to the employee.

That is what digitising your policy is about – control. You can see what is happening in real time and investigate if need be. Your employees interact with the app and can challenge refusals and receive a quick response. It also makes sorting expenses by trips or employees easier for purposes of a quarterly or annual audit.

Make a connection, make it stick, but make it digital

We hope that you take away the idea that a successful policy is not only built upon how well it is written, but the tools used by employees to interact with that policy outside of the office. A T&E policy that your employees engage with every time they make a purchase through a line-by-line expense app can transform the efficiency and costs of expense management.

If you want to learn more about the importance of a well-put-together expense policy and the issues it can help resolve, you can check our blog post – we come up with enriching insights on this matter.

But, do remember, you travel & expense policy is also about how your employees conduct themselves on the road and how they represent your business. It’s about having a conversation, working together with your employees, always challenging and always learning. In other words, when you come to write or update your travel & expense policy – make a connection, make it stick and make it digital.

Looking for a personalized approach to T&E Policy’s Implementation and Oversight? Book a demo with one of our specialists and learn more about how Rydoo can help your company with that.

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