There was a time when companies favored face-to-face meetings to establish, maintain and grow business relations. But when the economic and market conditions became volatile and unpredictable the companies and enterprises were forced to look for green pastures.

1. Corporate Travel Management Now Easy with Expense Management
Software
There was a time when companies favored face-to-face meetings to establish, maintain and grow business
relations. But when the economic and market conditions became volatile and unpredictable the
companies and enterprises were forced to look for green pastures. The advancements in communication
technology in the form of internet, email, VOIP, video conferencing, and so on made companies to look at
technology as a less expensive replacement for face-to-face meetings. Advocates of virtual meetings
considered it as a great time and money saver. But the fact of the matter is however cost effective or time
saving option virtual meetings might be, nothing can replace the human elements that is ingrained in
face-to-face meetings. These human elements go a long way in developing mutual trust, good faith and
confidence, which no amount of virtual meetings can bring about. Hence, in today’s global business
environment, business travels are the indispensable tools for building and fostering business
relationships.
It is a fact that in a slow economy steps must be taken to cut back on costs but it should never be at the
cost of company’ potential growth prospects. Business travel is definitely one of the largest corporate costs
but rather than reducing business travel budgets, a proper management of business travel expenses can
do the trick. Instead of taking extreme cost cutting measures that impede company’s progress and
development, enterprises should look at effective business travel management to facilitate continuous
growth and development.
In today’ tight unpredictable economy, most companies and enterprises cut down business travel budgets
as a means to tide over financial crisis. Such a move do more harm than good since studies have proved
that those companies that increase their business travels during economic slowdown succeed in making
new business deals than those who cut down business travels. Hence, what is required is the development
of business travel management as a core function of businesses. This would help companies to
· Properly manage company’ travel policy
· Negotiate shrewdly with vendors
· Efficiently manage day-to-day activities of the corporate travel program
· Ensure adequate levels of safety and security for travelers
· Proper credit-card management
· Effective management of travel and expenses (T&E) data
More and more companies are now depending on expense management software for effective corporate
travel management. This helps them to lower direct travel costs, to speed up employee’s travel
administration, to ensure that internal rules and policies are followed, and to achieve better travel spend

2. analysis.
Also read on - Digital management, eGovernment