FINAL WORD expense management but throughout the company , will also begin to be more common .
On the other hand , the virtualization of payments will be another trend that continues its path in 2024 . This , in practical terms , translates into greater control of expenses for organizations , which through tools such as virtual cards can establish limits on purchases or require prior approval for high-value purchases . For employees , these tools are also beneficial , as they help them book flights , hotels and other services within the limits set by company policies .
Technology to improve the experience
One of the components that allow improving this experience is mobility . Travel expense management solutions are allowing employees to make requests , submit expense reports , and receive approvals from anywhere and at any time through mobile devices , something that will become increasingly relevant for organizations to have real-time expense information .
Regarding the use of new technologies , the integration of AI and Machine Learning in travel expense management tools will continue to be key to enabling a better understanding of spending patterns , fraud detection and providing predictive analysis to optimize budgets and policies .
The use of technology in the management of expenses and travel processes aims to make life easier for employees . A trend for 2024 will continue to be the prioritization of the user experience . Mobile applications and online platforms are becoming more intuitive and easier to use , which improves adoption by employees .
More than 60 % of Financial Directors see AI as an essential tool within their work .
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