As travel and expense (T&E) management solutions have improved, the expectations of the end user are higher than ever before. Business travellers want a seamless experience and you want better visibility, increased compliance, and reduced spend.
Our research identified two types of people – Leaders and Followers. Leaders have most of their spending under management, have increased compliance to company policies and approve expense reports more quickly. Followers are lagging behind.
Published By: US Bank
Published Date: Feb 02, 2017
The average organization spends up to 10% of its annual budget on T&E, making it one of the largest controllable areas of discretionary spending. Combined with the fact that up to 90% of employee expenses are incurred on business trips each year, this means accurate expense management is more important than ever.
Yet many organizations still rely on manual processes and paper-based tracking that can create serious expense management challenges for their finance teams: how can they control costs when they lack visibility into spending? Yet how can they increase visibility and control without sacrificing employee trust and empowerment?
Streamlining expense management can help organizations save money, gain efficiencies and maintain control while increasing employee flexibility and freedom. But there’s no such thing as a “one size fits all” solution—different organizations require different solutions to meet their unique needs. However, when they start to consider their options, nearly