News

As the end of the financial year (EOFY) approaches, businesses are gearing up for the intensive process of financial reporting. This period often brings a flurry of activity, with teams scrambling to gather data, generate reports, and ensure compliance with financial regulations. The task is daunting, time-consuming, and fraught with potential for error. However, with the right product, this process can be significantly streamlined, making it more efficient and less stressful. Orbit Intelligence, our cutting-edge data reporting product, is designed to do just that, especially for managing and optimising your corporate travel program.

The challenges of end of financial year reporting
EOFY reporting is a critical task for any business. It involves compiling comprehensive reports that summarise the financial performance of the organisation over the past year. This process includes:

Data collection: Gathering all relevant financial and travel data from various departments and systems.
Data verification: Ensuring the accuracy and completeness of the collected data.
Report generation: Creating detailed reports that meet regulatory requirements.
Analysis and interpretation: Analysing the data to gain insights and inform strategic decisions.
Compliance: Ensuring all reports adhere to the latest financial regulations and standards.

Each of these steps is essential, but they can be incredibly time-consuming and prone to human error. Manual processes increase the risk of inaccuracies, which can lead to compliance issues and misinformed decisions. This is where Orbit Intelligence comes in.

Introducing Orbit Intelligence
Orbit Intelligence is a powerful data reporting program that revolutionises the way businesses manage their corporate travel reporting. Designed with the user in mind, it simplifies the complex tasks associated with EOFY reporting. Here are some of the key features and benefits of Orbit Intelligence:

1. Real Intelligence
Intelligent and dynamic charts and dashboards are provided with our Orbit Intelligence solution. With Orbit Intelligence, you can access the latest travel data in smart dashboards that provide useful and relevant data so you can better manage your travel program. These dashboards enable you to visualise key metrics and trends at a glance, making it easier to make informed decisions.

2. Automated data collection
Orbit Intelligence automatically collects data from multiple sources, ensuring that you have all the information you need at your fingertips. This reduces manual data entry, the risk of error and saves valuable time. Reports and data can be exported to integrate with your existing systems.

3. Dig into the data
Orbit Intelligence allows us to share comprehensive visual data easily and securely. We can also provide the underlying data to drill down granularly into your travel habits. This level of detail helps you understand your travel patterns and identify areas for improvement or cost-saving opportunities.

4. Data accuracy and verification
With Orbit Intelligence, you can be confident in the accuracy of your data. This includes robust verification features that check for inconsistencies and errors, ensuring that your reports are based on reliable information. This not only improves the quality of your reports but also helps you maintain compliance with financial regulations.

5. Insightful decisions
Gain visibility of your travel spend and habits, identify trends, risk areas, and savings opportunities to adjust your travel policy as needed and buy smarter. With detailed insights, you can optimise your travel program to ensure efficiency and cost-effectiveness.

6. Benchmarking
To support best practice recommendations, we can benchmark your travel data against other Orbit clients of comparable size, industry, or travel profile. This allows you to see how your travel program stacks up against industry standards and identify areas for improvement.

7. Comprehensive data analysis
Orbit Intelligence goes beyond simple reporting. It includes advanced data analysis features that help you gain deeper insights into your financial performance. By analysing trends, identifying patterns, and highlighting key metrics, you can make more informed decisions and develop more effective strategies.

8. Targeted data
We can provide reporting for many aspects of your travel program, including but not limited to:

• Market: domestic, trans-Tasman, international
• Travel type: air, accommodation, rental cars
• City, country, or continent
• Booking lead time
• Car rental days
• Online vs offline bookings
• Missed savings opportunities
• Fare class breakdown
• Cost of changes/amendments
• Expenditure by department, cost centre, or business unit

9. Sustainability
One of the best ways we can support our clients with their own sustainability journey is by providing accurate and detailed information about their travel footprint. Orbit Enterprise provides emissions usage visuals for the Traveller, Arranger, Manager, and even our own Travel Consultants. In addition to dynamic reporting through Orbit Enterprise, we can provide retrospective reporting on your carbon emissions and work with you on initiatives to reduce your carbon footprint.

Client testimonial
One of our long-standing not-for-profit clients, shared their experience with Orbit Intelligence:

"The Orbit Intelligence tool provides detailed, data-driven financial information which assists us in budget setting, monitoring spending habits and negotiating with suppliers. The tool enables us to easily compare our annual spend against our travel budget and previous financial years. This assists us in identifying areas of over and under spend across our business units. The dashboard report provides easy to read snapshots of key travel metrics, including areas of policy non-compliance, advanced booking days and lost savings. This information helps to pinpoint areas for improvement across multiple areas including policy development, traveller booking habits and leverage for supplier negotiations. The reports are comprehensive and provide on-demand access to our travel habits to inform effective and data-driven decision making."

Why choose Orbit Intelligence?
The importance of efficient and accurate EOFY reporting cannot be overstated. It not only ensures compliance but also provides valuable insights that can drive strategic decisions and business growth. Orbit Intelligence offers a comprehensive solution that addresses the challenges of EOFY reporting, making the process more efficient, accurate, and less stressful.

By choosing Orbit Intelligence, you are investing in a product that enhances your reporting capabilities and supports your business's financial health. With features like automated data collection, robust verification, efficient report generation, comprehensive data analysis, and regulatory compliance, Orbit Intelligence is the ultimate tool for streamlining your EOFY reporting.

EOFY reporting doesn't have to be challenging
As the end of the financial year draws near, the pressure to deliver accurate and comprehensive financial reports intensifies. Orbit Intelligence provides the support you need to navigate this challenging period with ease. Its advanced features and user-friendly design make it an indispensable tool for any business looking to streamline their EOFY reporting process.

Additionally, Orbit Intelligence enhances your corporate travel program by providing real intelligence, targeted data, and insightful decisions. It helps you manage your travel spend, identify savings opportunities, and support your sustainability goals.

Don't let the stress of EOFY reporting overwhelm you. Embrace the power of Orbit Intelligence and transform the way you handle your financial and travel reporting. Contact us today to learn more about how Orbit Intelligence can benefit your business and ensure a smooth and successful end of financial year.