Compass Magazine Outlines Risks of Business Travel and How Monaeo Can Help

“Hungry for revenue, governments tax time spent inside their borders.” 

Compass Magazine has published a feature by Charles Wallace on the growing compliance risks that business travel creates for companies. We were delighted to see Monaeo featured as a leading solution helping business travelers and Fortune 1000 companies move towards compliance.

In recent years, authorities have begun closely scrutinizing business travelers and the tax exposures that they create when spending time within the borders of a country or, domestically, within other states. Soon, writes Wallace, it will be even harder to fly under the radar. More than 100 countries have joined The Global Forum on Transparency and Exchange of Information for Tax Purposes. The forum is working towards automated exchange of immigration reports, hotel stays and airline reservations, providing authorities with the data they need to catch non-compliant firms and travelers.

Wallace points out that now companies are harnessing technology to help travelers and their employers also access that same data, so that they can be compliant and be better prepared to defend against audits. The article highlighted Monaeo’s mobile app as a solution catching on in the market, used by Fortune 1000 industry leaders across verticals.

Monaeo users have a range of data sources to choose from when deciding how to document their travel across state and country lines. In addition to user-friendly mobile, tablet and laptop apps, travelers can also leverage automated analysis of travel and expense reports or simply input their location by hand. It turns out that most executives prefer the option that Compass spotlighted: our mobile app, which does the work on the user’s behalf.

Monaeo is first and foremost a technology company, with 100% of our resources are devoted to building the best, most intuitive and robust software on the market. Monaeo’s independence from tax advisory services means that we don’t squeeze additional revenue out of customers through billable hours, or use our app as a gateway to selling additional services. It’s this laser focus on product design that has led to Monaeo’s best-in-breed data analytics and unique built-in privacy protections.

The full article in Compass Magazine can be found here.

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