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Artificial intelligence (AI) is transforming many aspects of business operations in Australia, with travel and expense (T&E) management being no different.
T&E can often be a broken-up process that lacks efficiency for many Australian businesses, making it difficult for leaders to understand the real-time spending and cost control.
According to Jonathan Beeby, managing director at SAP Concur Australia and New Zealand, “the lack of integration between travel and expense platforms is a persistent challenge for many organisations”.
“Employees often book travel through one system and then report expenses in another. This creates additional administrative work and increases the chances of errors, requiring manual intervention to consolidate the information,” he said.
“Fragmentation also leads companies to lose opportunities to analyse and control spending in real time, resulting in non-compliance with travel policies, missed opportunities for cost savings, and a lack of visibility into overall travel expenditure.”
Beeby believes that AI-powered expense management can nullify the headaches that come along with fragmented T&E processes, displaying six key advantages to streamlining through AI:
1. Capture and categorise expenses automatically
“AI simplifies expense reporting by scanning receipts, extracting relevant information, and categorising expenses according to company policies. This eliminates the need for staff members to manually enter each expense, saving time and reducing the likelihood of errors and fraudulent claims. Additionally, AI can identify spending trends and flag suspicious or non-compliant expenses for review.”
2. Analyse historical data
“AI-powered systems can analyse historical data to suggest more cost-effective travel options or identify trends in spending that can help businesses to refine policies. Predictive analytics also enhances budgeting and financial planning by providing more accurate forecasts of future travel expenses.”
3. Improve compliance management
“Many organisations struggle to enforce travel policies across different departments and regions consistently, especially when T&E insights are siloed in separate systems. AI automatically flags expenses that fall outside of policy parameters. This aligns employees with the same guidelines, reducing instances of non-compliant spending.
4. Achieve real-time expense tracking
“Staff members can submit expenses as they occur, giving finance teams immediate visibility into how much is being spent on travel. This lets company leaders identify issues or trends quickly and make informed decisions to manage costs more effectively. Real-time data also encourages compliance as it happens, rather than waiting until expenses are processed.”
5. Reduce the administrative workload
“Tasks that previously took hours or days, such as expense approvals or audits, can now be completed in minutes. AI-driven platforms can approve expenses that meet policy requirements automatically, sending only flagged expenses to managers for review. This accelerates the process, reduces errors, and frees up employees and finance teams to focus on higher-value tasks.”
6. Improve the user experience
“Traditional expense reporting is often time-consuming and frustrating for staff members. AI-powered solutions offer user-friendly mobile apps that let employees scan receipts and submit expenses on the go. This convenience encourages staff members to submit their expenses promptly, increasing the efficiency of the overall process.”
Beeby added: “AI-powered T&E management platforms offer a more personalised employee experience. These platforms can provide tailored recommendations that align with business policies while respecting individual spending habits and travel preferences. This balance supports staff members’ unique needs without imposing overly rigid systems.”
“AI-integration benefits the organisation as a whole. The ability to analyse vast amounts of data in real time gives company leaders actionable insights that can drive strategic decision making. Businesses can identify cost-saving opportunities, refine policies, and improve processes, leading to more efficient and effective travel management.”
Kace O'Neill
Kace O'Neill is a Graduate Journalist for HR Leader. Kace studied Media Communications and Maori studies at the University of Otago, he has a passion for sports and storytelling.
