Real-time expense reporting

Tracking expenses in real time, so spend is visible as it happens. Rather than waiting for an employee to submit an expense report after the trip, transactions — such as a corporate card charge — appear in the system as soon as they occur. This gives finance and travel managers up-to-date visibility into spend rather than a delayed picture.

Real-time reporting relies on data being captured at the point of spending. Bookings made through a travel platform appear as soon as they are confirmed, card transactions are fed into the system as they are authorised, and receipts are photographed and uploaded immediately rather than collected at the end of the trip. The result is a live view of spend by traveller, department, project or cost centre that is always up to date.

The value of real-time data lies in the ability to act on it. Budget holders can see when a department is approaching its limit, travel managers can spot unusual spending or policy breaches while there is still time to respond, and finance teams can accrue costs accurately at month-end without waiting for late expense reports. Real-time visibility also improves forecasting, because it shows committed future costs, such as upcoming trips, alongside money already spent. It also reduces the month-end rush for finance teams.

Tumodo gives companies this kind of live visibility. Every booking made on the platform is recorded immediately, with its cost and documents, and real-time reports and analytics show spend by trip, team or cost centre. Custom reports can be created in a few clicks and exported in the format the finance team needs, so companies can track travel spending as it happens and plan budgets with confidence.