So how do you take advantage of this and continue to grow into the new financial year? We look at how smart travel and expense management can play a significant role.
The end of financial year can be a stressful time for many businesses, especially SMEs, but it is also a great time to take stock of where funds have been spent through the year and look for smarter ways to cut costs and drive revenue in the year ahead.
Travel is a major expense for many SMEs, and with more Australians and New Zealanders travelling for work every year, managing travel expenses has become an increasingly important consideration in saving both money and resources. Similarly important is the ability to easily track and process these costs, as well as other common expenses such as corporate credit card bills and cash claims.
So what does smart travel and expense management look like for SMEs?
Consolidating your travel
Traditionally, small businesses do a significant amount of travel and waste a great deal of time, effort and money organising trips. By using a robust, intuitive travel booking platform to book flights, accommodation, transfers and car hire, customers can save up to 20 per cent on their trip. The key? Being able to access every possible supplier and book the trip in one place.
Getting the best deal
Traditionally, small businesses have had to rely on their Travel Agent, which can be expensive, or they book and manage travel themselves, which is time-consuming.
To combat this, the new serko.travel system allows users to consolidate and compare prices across all the normal go-to suppliers such as Expedia, Booking.com, Air New Zealand and Qantas. By having access to one easy-to-use interface, smaller businesses can now save on time and money by empowering their employees to make and change their own trips via the app, while giving the person responsible back at the office, the visibility to see and approve everything before it goes on the company credit card.
Keeping an eye on expenses
Getting employees to reconcile their flight, hotel and transfer expenses can not only be a nightmare, but also expensive and time consuming. So the easier it is for employees to reconcile their travel expenses, the more accurate and timely the finance admin becomes.
Finding the right tool can have a huge impact on productivity and the bottom line, especially the ability to manage travel while on-the-go.
To learn more about serko.travel’s integration with Xero’s accounting software platform and how it can help your small business save, visit serko.travel.