How can RPA (Robotic Process Automation) reduce business travel cost?
Businesses who operate across multiple international markets are seeing travel restrictions largely being lifted and with this, increased travel costs must be managed. It is not uncommon for large organisations to experience several thousand trips per year and with this, experience an overhead cost running into hundreds of thousands of pounds.
Many businesses still operate the management of travel using paper-based reports. This leads to high administrative costs and long periods for reimbursements to those employees who are required to travel on business. The administrative process can also experience further delays during periods of high travel volume with a back log of document examination and approval. For the business traveller this can be a frustrating process and takes time away from essential work.
Applying RPA to the existing management of travel workflow allows staff to be concentrate on value added tasks and less menial processing and significantly improves delays as well as lowering overall travel related costs.
The application of RPA in Travel Management should start with a bespoke App that allows users the easily book travel, go through the relevant approval processes, and book flights & hotels in an easy, time saving manner.
Following a more automated process also improves the reconciliation and payment process making it more cost effective & efficient. An example of the process with RPA would work as follows:
· Travel requirement is booked via the Travel App
· Payment is processed
· Invoice is submitted
· RPA interfaces with Travel App and performs necessary checks for information based on specific rules
· Approval sent to signatory
It is not uncommon for an organisation processing circa £3b in invoice remittances (large organisations would surpass this globally) to have a net benefit of say 0.1% - (average invoice mismatch rate) giving a £3m per annum benefit.
The Vision Chain can work in collaboration to Scope, Present and Deliver the most appropriate technical solution for your organisation.