Making the most of your reporting data

26 Jun 2015

Accurate reporting data is one of the most important internal resources for any company.

When minimising expenditure is a high priority, such as in the not for profit sector, having accurate data on hand arms you with knowledge to identify spending patterns, see where dollars are being wasted and create new internal efficiencies. 

Large cost areas such as a business travel program benefit from strong reporting structures and provide a significant tangible benefit to business by delivering a big picture view of expenditure.

Like any other controllable expense, business travel can be optimised for savings through the analysis of detailed reporting and help you for implementing effective budgeting, strengthening negotiation with travel suppliers and implement new strategies to save money.

Strong reporting data increases your business intelligence and spending transparency. Using the right reports is particularly important for identifying spending patterns to implement new efficiencies internally.

Where a Travel Manager can help

Utilising the resources of a professional Travel Manager is an effective way of streamlining the collation and delivery of your reporting data.

A Travel Manager can work alongside your accounting staff to identify the numbers you need and a delivery schedule that fits with your reporting timeline. You can also access a comprehensive range of reports, data fields and detailed analysis of your spending patterns.

Access to live reporting data reduces the time burden on your accounting staff for reconciling travel expenses boosting your power to negotiate for contracted rates and fares.

Automating your reporting data via a Travel Manager can also assist with securing membership and funding from not for profit organisations and industry and government bodies.