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By Kevin Permenter, Senior Research Analyst, Enterprise Applications, IDC

Time is a precious commodity in financial service firms. They are always looking for ways to reduce their costs and identifying places to gain efficiencies are always a focus area. Travel expense software end users rely on the software to help them identify those inefficiencies. However, more and more end users are looking to their software itself and how it functions as a place to save precious time. To that end, end users in financial services firms are looking for T&E software applications that offer a strong user experience. Specifically, end users are looking for a more intuitive and conversational user experience with their travel applications. It not only means that users will find it easier to use the application but also means that end users will be able to be more productive and efficient. However, building that user experience can be a difficult task. Creating a stronger user experience includes the following:

• Simpler/Cleaner Interface: T&E solution end users want an intuitive experience without additional/unnecessary clicks or repetitive key strokes. They are looking for a simple clean interface with functionality (drop-down lists, tabs, cookies etc.) they have become familiar with in consumer software.
• Mobility: Business travels want the ability to interact with the T&E tool the same way they would any other application on their mobile device. They want simple icon-based applications. The application should mirror consumer functionality with photo capabilities, messaging, and alerts. Most importantly, it should provide access to expense data and allow them to create and submit expense reports.
• Multidevice support: Business travelers may need to interact with the T&E system via multiple devices within a given period. No one wants to have to learn multiple versions (mobile and laptop) of the T&E software. So, the overall user experience needs to be consistent (layout, navigation, naming) regardless of device.
• Conversational UI: Advances in natural language processing have given rise to conversational user interfaces (UIs) that promise to bring human and computer closer together. The driver behind the rise of conversational UI is improved speed to problem/search resolution and enhanced user experience.
• Strong customer support: End users routinely talk about the importance of customer support and how it can be one of the biggest time sinks for travel managers. End users are often forced to talk with lower level call center employees which can lead to unnecessary back and forth. End users want quick and efficient customer service regardless of their size and status.
• Automation/Intelligence: Intelligence within the financial software comes in many forms, some of which are already generally available, including workflow automation, conversational user interfaces, chatbots, and intelligent analytics, coupled with curated data sets. When taken together, intelligent workflows save time, increase operational efficiency and, more importantly, add a layer of big data analysis that human beings simply cannot duplicate.

Streamlining the user experience leads to less wasted time for travel departments. Also, a better user experience can lead to more employee engagement with the application. This is extremely impactful as it relates to wasted time. Often travel managers must spend precious time urging employees to use the system or helping employees operate the expense software. The time spent chasing down expense report or helping employees find the right forms is also time away from higher level tasking that drives valuable insights. Simply put, time spent by the vendor streamlining the user experience is time well spent! For more about the evolution of travel and expense software, read the Q&A.