Doing expenses after a business trip can be taxing. Using manual or semi-manual expense solutions is complex – often impractical. Expense management needs to be simple, agile and economical.
Automated expense management for a well-rounded travel policy
Automated expense management is an alternative that also helps to generate new revenues as well as ensuring it closely integrates with the online booking tool. This means flights, hotels, and car rental costs are synced with on-trip expenses like taxi fares, Wi-Fi receipts, and restaurant bills. According to PayStream, 65% of indirect business travel costs are saved by automating travel expense management.
This is why Amadeus has developed an Expense Reader function within Amadeus cytric Travel & Expense, to recognize important, expense-related information on scanned receipts.
Amadeus has integrated ABBYY FineReader Engine, a powerful software development kit for optical character recognition (OCR), into the Expense Reader’s natural language processing (NLP) engine to read expense receipts accurately and provide expense management solutions. ABBYY is a global company with deep experience in capturing content with innovative language-based technologies, delivering excellent recognition quality. Enhanced with machine learning technology, the Expense Reader can continually improve itself and adapt to customer requirements automatically.
Business travelers can use the Expense Reader function as part of the cytric mobile app. It reads the contents of scanned and saved receipts and populates the corresponding fields of the travel expense report they have created – thus simplifying and speeding up the expense reconciliation process.
Key technological benefits
- High recognition rate: Combining OCR with machine learning allows the expense reader to understand specific inputs such as amount, date and tax rate.
- Data privacy: Amadeus’ Expense Reader functions within cytric and ABBYY’s FineReader Engine ensuring client data remains private and secure.
Amadeus commissioned a study by The London School of Economics and Political Science – ‘Managing Every Mile: How to deliver greater return on investment from Travel and Expense’ – the report found that 90% of respondents who use expense management tools feel that it is an obstruction. Only 21% of the respondents use scan-and-send automation and 35% will replace their T&E systems in the next 12-18 months.
Companies can leverage Amadeus cytric Travel & Expense with integrated ABBYY technology to deploy automated, integrated travel and expense systems, thus benefiting from its mobile scan-and-go technology and conducting granular reporting on expense items.
Find out more about Amadeus cytric Travel & Expense here.