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Best practices for travelexpensemanagementTravelexpensemanagement can be overwhelming, especially if your business revolves around international clientele. Dealing with never-ending expense claims can prove to be a tedious and time-consuming task that uses up important resources.
And for SMEs, these expenses can be a tax deduction for your business and can reduce your taxable income to help lower your tax bill. The HMRC defines these items as follows: TravelTravelexpenses include any costs you incur to get from one place to another, including transportation and lodging, meals, and incidentals.
The ridesharing space continues to hit new milestones in the corporate travel space, with businesses choosing to spend their money on these services as opposed to traditional taxis. Meanwhile, taxis continue to lose market share, dropping 2 percent to holding 12 percent of ground transportation transactions in the quarter.
Despite a slowdown in corporate travel, expensemanagement and travel booking technology provider SalesTrip still managed to impress investors, which pumped $1.4 But it was an embedded finance FinTech that took home more than half of the funding announced. PYMNTS rounds up all the latest deals below.
. “A key takeaway from the report is that companies are increasingly choosing digital brands over traditional providers for everything from meals to office supplies to transportation,” the company said in its announcement. Lyft’s boost in Q4 also signaled its continued rivalry with Uber in the business travel market.
American Express’ corporate travel unit, Global Business Travel (GBT), is integrating Lyft as the latest ride-sharing service supported by the business travel booking and expensemanagement solution.
For the first time since Certify began tracking the data, Uber ’s popularity with business travelers has declined, accounting for a smaller portion of corporate traveler rides in Q3 compared to Q2. The latest data from Certify , released Tuesday (Oct.
The latest stats from travel and expense company Certify revealed that Uber secured 56 percent of ground transportationexpenses for Certify customers in 2017, up from 52 percent in 2016. Businesses need options when it comes to ground travel, Mac recently told PYMNTS.
Through the terms of the latest deal with Didi, Concur users on the ground requesting a ride through the ride-hailing firm are able to log the transactions back to their Concur account through a mobile app. Didi Chuxing users connect to Concur accounts and can select rides.
Even if the T&E space has seen a recent influx of FinTech innovation, adoption is limited by businesses’ struggle to manage disruption to other systems linked to expensemanagement, like accounting and event departments. Adding to the challenge is millennials’ demand for bleisure-supported solutions.
Between automated expensemanagement tools and mobile-friendly T&E solutions , corporate trips and the reimbursement process that follows should be a breeze. Especially, said T&E firm KDS , because corporate travel is one of the largest areas of corporate expense today. Step 1: Book Your Trip .
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