taming the travel & entertainment expense beast: benchmarks & best practices
DESCRIPTION
Travel and entertainment—second only to payroll as the largest business expense—is becoming increasingly more difficult to control as companies expand across borders and grow through acquisitions. Discover how companies are leveraging technology in conjunction with procedural best practices to remove common T&E headaches including: the untimely submission of expense reports, lost receipts, inefficient processes and paperwork relative to reviewing and approving expense reports and ensuring adherence to company travel policies. Join us as Certify reviews the results of their 2014 Expense Management Outlook survey; benchmark your company’s T&E expense management processes, pain points, and use of technology in helping to tame T&E expenses; and discover how T&E management automation is delivering ROI to companies of all sizes.TRANSCRIPT
Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Taming the Travel & Entertainment Expense Beast: Benchmarks & Best Practices
• Understand current and emerging technologies available for T&E management
• Learn how to best leverage technology in establishing visibility and control of T&E expenses
• Discover how to build an effective business case for T&E management automation by understating key components of the ROI
• Identify how to manage and mitigate T&E expenses at your company including improved policy compliance rates, a higher frequency of report submissions, and the elimination of hours of accounting work
Learning Objectives
After attending this event you will be able to:
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Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Taming the Travel & Entertainment Expense Beast: Benchmarks & Best PracticesRobert Neveu, President & Co-founder, Certify
Featured in:
About Certify
• Providing travel & expense solutions since 2008
• 64 languages, 140+ currencies, clients in 18 countries
• Highest User Satisfaction Rating , G2Crowd 4.8 out of 5
• Over 15 million expense transactions in 2013
• Processing over $5 billion/ year in expense reports
T&E Expense Management Trends
Reference: Certify Annual Travel & Expense Management Survey 2014
• Travel and entertainment (T&E)—second only to payroll as the largest business expense, accounts for 10%-12% of total annual budget
• Roughly 50% of organizations in U.S. are using manual processes to manage their T&E spend and budgets
• 59% of organizations want to improve their expense management process
• 62% of organizations want better analytics and insight into T&E spend
• Only 30% of organizations utilize mobile expense applications
T&E Expense Management Trends
Reference: Certify Annual Travel & Expense Management Survey 2014
43%
29%
18%
5%4%
Cloud/Web-Based
Excel/Spreadsheets
ERP
Home-Grown
Pen & Paper
How do organizations currently manage their travel and expense reporting?
43%
29%
18%
5%4%
Cloud/Web-Based
Excel/Spreadsheets
ERP
Home-Grown
Pen & Paper
T&E Expense Management Trends
Reference: Certify Annual Travel & Expense Management Survey 2014
How do organizations currently manage their travel and expense reporting?
2013 to 2014 Comparison
Reference: Certify Annual Travel & Expense Management Survey 2014
43%
29%
18%
5% 4%
Cloud/Web-BasedExcel/SpreadsheetsERP
35%
35%
12%
7%11%
Cloud/Web-BasedExcel/ SpreadsheetsERP
2013 2014
44% of organizations in 2014
are using web-based expense
systems, compared to 35% in
2013
The move to cloud expense
management is here:
Reference: Certify Annual Travel & Expense Management Survey 2014
The Divide Between Small Business & Enterprise
17%
67%
8% 8%
Pen & Paper - 17%Excel/Spreadsheets - 67%Home-Grown - 0%ERP - 8%Cloud/Web-Based - 8%
2%16%
8%
22%
52%
Pen & Paper - 2%Excel/Spreadsheets - 16%Home-Grown - 8%ERP - 22%Cloud/Web-Based - 52%
2%
29%
4%16%
49%
Pen & Paper - 2%Excel/Spreadsheets - 29%Home-Grown - 4%ERP - 16%Cloud/Web-Based - 49%
T&E Expense Management Trends
T&E Expense Management: Looking Forward
Within the next two years, how do organizations expect to manage T&E?
Pen & Paper Excel/ Spreadsheets
Home Grown Cloud/Web-Based ERP0%
10%20%30%40%50%60%70%80%90%
100%
2% 6% 5%
74%
13%
0% 0% 4%
89%
7%
SMBEnterprise
Reference: Certify Annual Travel & Expense Management Survey 2014
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Taming the Travel & Entertainment Expense Beast: Benchmarks & Best Practices