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Control And Monitor Corporate Travel Expenses Electronically

Managing business travel costs can be challenging, especially if employees are not able to provide accurate accounts of their travel each month.

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Win With GPS Log Book

This month, GPS Log Book – a brand by MiX Telematics – is giving away a GPS Log Book to that aspiring business man/woman who wants to get ahead of their travel expenses. To enter all you have to do is email the answer to the below question to editorial@entrepreneurmag.co.za, to stand a chance of winning a GPS Log book device.

Question: How much on average can a driver, with a travel allowance, claim back from SARS?

If SARS deems a log book inaccurate in any way, the travel allowance tax claim can be rejected, leaving yourself or your employees, with a potential tax liability. The solution? The electronic GPS Log Book device.

GPS Log Book demonstrates the power of electronic logbook management and the importance of ensuring a SARS compliant logbook. Simple, stylish and highly affordable, the GPS Log Book is a user-friendly device that makes managing business travel that much easier.

Key stats about travel related expenses

Global business travel is on the rise and with it, travel spending and related expenses. Research shows that growth will remain strong through 2019, with business travel projected to grow 6,9% in 2016, 6,0% in 2017, 6,4% in 2018 and 5,8% in 2019.

Related: Transport and Logistics Business Cheat Sheet

Optimising business travel costs

If we consider this increase then there is no doubt that business travel and expense management is, and will, become an even more important issue for businesses across South Africa. Therefore, it’s important for companies to find an easy, accurate and effective way to monitor and control business travel expenses.

Many organisations still use traditional methods of completing travel logbooks or reporting expenses. This approach may have worked in the past, but in today’s competitive business environment, organisations need to ensure that their selected approach does not hamper operations and profitability – rather that it improves these aspects and provides return on investment.

Such technology can have great benefits for your staff too. Employees that take a proactive approach to managing their travel claim expenses – through a GPS Log Book – and submitting these with their tax returns, can receive up to R17 000* back over the year. 

Related: How To Start A Passenger Transport Business

The role of technology in travel related aspects

If we consider that substantial developments in technology have changed the needs of businesses all over the world, then there is no longer a reason for businessmen and women to worry about managing their business travels effectively. There is an app, a product or a solution for almost any business challenge today and this is no different when it comes to travel logs.

Through the use of GPS Log Book, this can be done electronically.

It ensures an accurate business report that reimburses travel expenses and provides employees with the opportunity to receive a travel related tax return.

The importance of a SARS compliant tax return

As an example, if your car is valued between R80 001 and R160 000 and you travel approximately 20 000 km per annum, of which 50% is business related, the estimated claim amount from SARS should be approximately R25 095.

While you can calculate an approximate claim amount by using the calculator provided on selected electronic logbook websites, if you have not kept an accurate logbook – the benefits cannot be obtained.

With the advent of GPS Log Book, you can plug the device into your car’s lighter socket, ensuring that each trip is logged electronically. 

Related: Types Of Transport Business Opportunities

Benefits of a GPS Log Book

The ROI from such devices is tangible, with benefits including:

  • Categorising your trips based on business and private travel
  • Logbooks are accurate, comprehensive and easy to use
  • Trip data can be stored in the cloud for up to 5 years – ensuring data is secure at all times
  • When submitting a tax claim, the minimum information required includes the date for each trip, where the trip started and ended, how many kilometres were travelled per trip and the reason for travel – business or private – all managed electronically
  • With the touch of a button, you can create a fully SARS compliant report.

Today, it is simpler than ever for businesses to effectively control and monitor travel expenses, reduce administration and cut travel expenses – as well as for businesses to eliminate travel expense abuse – all through the use of an electronic logbook.

* This is based on the following R17k rebate criteria:

  • Sample of 432 vehicles in 2015/2016 tax year
  • Total average kilometres driven in tax year: 24 800
  • Percentage that were business trips: 35%
  • Average value of vehicle: R80 000.

GPS Log Book, a brand by Mix Telematics, was designed with one thought in mind – to eliminate the tedious process of manually completing your trip logbook. GPS Log Book is a small, stylish and clever device, that does it all for you. Since 2011, any person who receives a travel allowance is required to present a logbook to the South African Revenue Service (SARS) before any travel tax claim can be processed. In most cases, at the end of the week or even the month, you have to backtrack, look at your meeting calendar and try to figure out where you’ve been so that you can accurately record your travel logs. This is where GPS Log Book can make your life hassle-free.

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Business Landscape

The New Rules Of Customer Experience

Intelligent Experience Economy will change the rules of customer experience.

PwC

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A PwC report identifies five rules organisations can follow to reimagine the customer experience in the ‘Intelligent Experience Economy’. These rules are the action that organisations need to take if they want to be successful in this new era:

1. Make the customer journey your new chain

Most executives understand the importance of CX and have some form of customer strategy to address it. However, the ‘Intelligent Experience Economy’ calls for significant action. Organisations will need to develop an enterprise-wide customer journey. Creating a common language and taxonomy around the customer that is universally adopted will spur CX transformation at scale and embed the customer in the core of the organisational culture.

Related: Why Customers Don’t Respond To Disruption

2. Embed AI in the Customer Experience

Our research confirms that businesses understand the critical and still growing importance of ‘big data’ and analytics. However, having an analytics function. AI will be the dominant capability enabling companies to reimagine the CX in the ‘Intelligent Experience Economy’. Embedding AI in the CX is a great opportunity for organisations. It can enable easier communication with customers, speed up transaction times, personalise customer experiences and significantly reduce customer service costs. Furthermore, organisations that have embedded AI will have unique access to customer data.

3. Connect Customer Experience to real value

Customer metrics are now commonplace in businesses. Although the metric is important, too many businesses see it as the end point instead of the starting point. CCOs assessing their CX transformation efforts must take into account how mature their organisation’s CX measurement maturity is.

For many, CX measurement is still immature – actively listening to customers and collecting feedback, but not taking action with CX initiatives. Organisations should develop real-time customer metrics.

4. Let the COO drive Customer Experience Change

The role of the COO needs to evolve if organisations are to execute on their ambitious goals for their CX visions in the next few years. The role of the COO will need to shift from ‘measuring the CX’ to being directive on the priorities to drive CX change. In order to be more directive, end-to-end capabilities will be needed within the organisations, framed around journey stages.

Related: Why Your Latest Tech Investment Might Not Be Wowing Your Customers

5. Ignite the core

To create real CX transformation – the COO cannot be successful alone. The challenge is about ‘igniting the core’ around CX. To ‘ignite the core’ organisations need to spread the CX vision with all leaders, managers, frontline employees and back office employees alike. Furthermore, organisations will have to establish partnerships across the value chain – including UX/CX experts, data analysis, AI architects, app developers, as well as project delivery partners.

How can organisations execute the customer experience?

Quinton Pienaar, PwC South Africa Customer engagement & Salesforce leader says, in order to be a leading customer experience organisation, companies will need to execute the customer experience at scale across the organisation. Customer strategy execution is transformational in nature and requires new capabilities, new ways of working and an entire organisation to be fully behind the new vision.

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How To Immigrate With Your Family By Starting A Business In The UK

The simple way to make your entrepreneurial dreams come true in the UK.

Sable International

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Many people, especially those with families, are reluctant to up sticks and move to the UK. These would-be movers are often worried that they will not be able to secure employment in the hugely competitive UK job market. This source of stress alone is enough to discourage some from pursuing their dreams of living in the UK. But, there is an innovative and accessible solution.

The UK has several visa classes aimed at individuals who wish to invest in the country. These give an individual the right to live and work in the UK with their families, if they make a defined investment. A visa that interests South Africans is the Tier 1 (Entrepreneur) visa. We have developed our UK Tier 1 Entrepreneur Investment Programme to help South Africans looking to immigrate to the UK alone, or with their families.

The basics of the Tier 1 (Entrepreneur) visa

To be awarded a Tier 1 (Entrepreneur) visa, you will need to invest at least R3,5 million (£200,000) in an existing UK business or one you start up. There are certain other requirements, but these are not particularly onerous, and most investors will qualify if they submit their application correctly.

The entrepreneur visa allows you to live and work in the UK, and take dependant family members with you, defined as your partner and your child under 18. If you have the capital, or are willing to liquidate your assets in South Africa to raise it, the Tier 1 (Entrepreneur) visa is a great way to relocate your entire family to the UK.

Do note: You will need to make specific applications for each dependant, so it is vital you consult with an immigration expert before beginning the application process.

You’re not just immigrating, you’re investing in the UK

By starting or investing in a UK business as part of our programme, you will be granted the right to live and work in the UK, and earn an income from that business.

Related: Want To Start An Import Business – Here Are The Importing Terms And Documents Involved

The business you invest in will want you to play an active role, not just contribute seed capital. If you want to invest in a business without being an active director you will be allowed to do so, but you may not be eligible for the Tier 1 (Entrepreneur) visa.

Another restriction is that you cannot hold this visa and work for a business other than the one you are invested in. But, your partner will be allowed to work in whatever field he or she pleases.

How do you choose the right business to invest in?

There is always an element of risk when investing in a foreign business, particularly when you’re thirteen thousand kilometres away from the country you’re investing in. It’s important to understand exactly what you’re investing in before you take the plunge.

That’s why our UK Tier 1 Entrepreneur Investment Programme is hugely beneficial. It matches your investment capital with a pre-approved investee business. We’ll make sure that your skills are matched with an appropriate venture so you can be an active director of that business.

We’ll also handle your visa applications, providing you with a comprehensive immigration and investment solution. Our partner’s list of investee businesses is over 200 strong, giving you an array of choices in various industries. This allows us to pair you with the business that best suits your investment goals and skills.

But what if you have a successful business in South Africa?

It’s no secret — emigrating from South Africa is difficult for many families who have deep roots and thriving operations. There’s no reason why you can’t keep your business in South Africa as well as relocate to the UK.

Nothing restricts a Tier 1 (Entrepreneur) visa holder from owning and overseeing businesses in other countries while they are on this visa. Many clients choose to relocate to the UK while ensuring that their original business continues to operate. In this way, you will be supplementing the income from your UK investment with revenue generated by your South African business.

You can hold British and South African passports if you apply for your British citizenship in the correct manner. You must obtain permission from Home Affairs in South Africa to avoid having your citizenship revoked. Retaining your South African citizenship will make it much easier for you to continue running a business here.

Talk to us today

There are compelling reasons to move to the UK — a brighter future for your children and a more stable country in which to retire. Our comprehensive solution will ensure you get the most out of your relocation.

Visit www.sableinternational.com/entrepreneur or send us a mail on ukinvest@sableinternational.com 

If you’re thinking of immigrating to the UK or investing offshore — either or both — we can help.

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(Video) TomTom Telematics – Let’s Drive Business (UK)

TomTom Telematics

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WEBFLEET provides you with the right information at the right time to make smart decisions and achieve your goals: Lowering cost, reducing time on the road, supporting drivers and delighting customers. Running a business can be hard. So let’s make it easier. Request a demo and find out more at telematics.tomtom.com/webfleet/landingpages/launching-the-new-webfleet.

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