While the world-wide pandemic halted all travel for quite some time, people are slowly starting to conduct business travel again.
During our recent quarterly roundtable meeting with our customers, one of the main topics discussed was trends they are seeing in their respective industries that seemed to coincide with COVID19. Some of the top trends our customers shared were excessive meal spend, expensing COVID tests, and extended hotel expenses because of quarantine.
One question organizations should consider thinking about is what is your policy to combat excessive meals and lodging when traveling? Here are some suggested actions for your team to consider:
- Issue an expense policy reminder of the current meal allowances for individuals and set audit rules within your expense system and require an explanation of violated before submission.
- Reevaluate your travel & expense policy to confirm if the current meal and lodging reimbursement remains reasonable.
- Clarify your policy regarding ground transportation reimbursement by type (rideshare, black car, taxi), requiring proof such as Uber receipts.
You can put the processes, policies, and controls in place to ensure better outcomes and manage risk more effectively. This will in return help you streamline your organization’s spend management process. Nothing gets by you now that you can #SeeItAll.
Want to learn more about Oversight capabilities? Follow along with our Nothing Gets by You Now Series, check out oversight.com, or request a demo to see our AI powered platform in action!
