travel & expense management trends for 2013

Travel & Expense Management Trends for 2013 How CFO’s are Employing New Technologies to Increase Insight and Drive Growth

Live Webinar EventPresented by: CertifyApril 23rd, 2013

www.certify.com | 1.888.925.0510

www.certify.com | @certify

Travel & Expense Management Trends for 2013:How CFO’s are Employing New Technologies to Increase Insight and Drive Growth

Robert Neveu, PresidentCertify, LLC

Speaker:



Today’s Topic:

Travel & Expense Management Trends for 2013How CFO’s are Employing New Technologies to Increase

Insight and Drive Growth

Based on the Certify Annual Travel & Expense Management Survey, an invite only survey sent to finance professionals across the U.S. from all sized organizations.



Why Expense Management is important?

• The typical company will spend 10% (or more) of its total annual budget on expenses related to business travel in 2013

• Nearly 75% of organizations state that travel and expense management is either a critical component within their organization or a focus for 2013.

• Automated Travel & Entertainment (T&E) expense management has proven to:• Reduce expense processing costs by 50%-60%• Improve compliance rates by over 35-40%• Provide robust visibility into various areas of T&E

Expense management

*Statistics provided by the 2013 Annual Travel & Expense Management Benchmark report from the Aberdeen Group



How do organizations currently manage their travel and expense reporting?

35%

35%

12%

11%

7%Excel/ Spreadsheets

Cloud/Web-Based

ERP

Pen & Paper

Home Grown



How do organizations currently manage their travel and expense reporting?

35%

12%

Excel/ Spreadsheets

Cloud/Web-Based

ERP

Pen & Paper

Home Grown

Manual Ex-pense Manage-

ment

53%



The Divide Between Small Business & Enterprise

Pen & PaperExcel/ SpreadsheetsHome GrownERPCloud/Web-Based



Small Business Mid-Sized Enterprise

40% 51% 65%

15% 16% 29% 23% 9%

21%



Making the Connection: Manual Vs. AutomationWhich systems are organizations currently integrating with?

Corp. Credit Card General Ledger AP System HRIS

78%69% 66%

55%

44%39% 40%

14%

Web-Based Expense System Manual Expense Process



Making the Switch to the Cloud53% of organizations manage and process expenses manually

64% of Small Business indicated they will be making the switch to an cloud-bases expense system, with 57% indicating making the switching with the next 12 months

57% of Mid-Sized Companies indicated they will make the switch. Of those, 62% indicated switching within the next 6 months and 85% will make switch within the next 12 months

72% of Enterprise Organizations indicated they will switch. Of those, 67% indicated they will switch within the next 12 months and 79% will complete the switch within 24 months



Making the Switch to the Cloud

81% of organizations plan to make the switch to an automated expense

system within the next 12 months

32% of organizations plan to make the switch to an automated expense

system within the next 6 months



Driving Force behind the switch to the Cloud

Increase frequency of expense reports being submitted

Improve compliance rates to T&E policies

Gain reporting and analytics around T&E spend

Provide an expense system accessible from anywhere

Simplifying overall expense reporting processes

25%

34%

39%

49%

76%



Areas of travel and expense management that were indicated as most critical to improve in 2013

Improve expense management efficiencies

Travel Booking & Travel Management

Mobility (allowing travelers to access expense software via mobile application or portal)

Simplifying overall expense reporting processes

12%

17%

40%

50%



Top pressures driving organizations to focus on improving travel and expense management:

40%Need to reduce expense-

processing costs

49%Poor visibility into travel and

expense spending, compliance, supplies

Small Business Enterprise Organizations



Errors on the report (incorrect codes, payment amounts, etc.)

Reviewing for policy violations

Reconciling the data

The time it takes to reconcile, review and approve reports

Employees loosing paper receipts/ submitting without receipt

Employee's failure to submit reports on time

25%

28%

29%

38%

42%

47%

Largest Pain Points Surrounding Expense Management



When selecting a cloud-based expense management system, what are the most important features to look for?

Reporting and Insight into spend

Functionality to enforce corporate travel policies

Integration with HR/Finance systems

Expense Management Automation

Mobile applications and accessibility for business traveler

40%

42%

42%

50%

53%



Rate of Compliance: Manual Vs. Automation

Manual Expense Reporting Automated Expense Reporting

51-80% compliance rates to T&E

Policies

18% of organizations indicated they currently do not measure compliance

91-99% compliance rates to T&E

Policies

10% of organizations indicated they currently do not measure compliance



Reimbursement Times: Manual Vs. Automation

Submission to Approval

Submission to Reimbursement

Automated Expense Process Times

65% 4-7 days

85% less than 7 days

Manual Expense Processing Times

46% 4-7 days

82% Less than 14

Automated Expense Process Times


83% 8-14 days

Manual Expense Processing Times

50% 8-14 days




Key Findings in Survey

81% of organizations will move to a cloud-based expense system within the 12 months

#1 Most critical function to improve: Overall expense management process

(submission times, frequency, accuracy, etc.)

47% of companies largest pain point surrounding expense management: Employees failure to submit expense report on time &

42% employees loosing receipts



Certify Mobile With AutoFill Technology

Free Mobile Application with industry leading ReceiptParseTM Technology

Store & Manage Receipt Images within your Certify Wallet

Receive Email Alerts of Expense Report Status

Manage & Travel Expenses Off-line



Truly Automated Expense Reporting With Certify

ReportExecutiveTM from Certify

1. Schedule company wide or individual Automatic Expense Report Dates

2. Schedule Reminders

3. ReportExecutiveTM will automatically build expense reports for end users

4. The user will then be notified by e-mail and directed to review the expense report and submit it for approval.



Reconcile Automatically with Certify Data Feeds• Nightly data feeds from all

the major credit card platforms including; American Express, Visa, MasterCard, Discover, and Diner’s Club.

• Certify automatically receives your corporate credit card data in your account in Certify.

• Certify maintains PCI compliance

https://www.certify.com/CorporateCreditCards.aspx



Certify Travel Integration

• Fully integrated end-to-end travel booking solution

• Pre-trip notification• View seating before booking• Apply unused ticket price to future

bookings

Integrate your current Travel Agency into Certify, allow employees to book and manage expenses from one system

Have a preferred Travel Agency?



If you would like to schedule a live demonstration of Certify, leave a message in the chat box to the right or visit:

www.certify.com



Q&A Session



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