Expense IQ: The Expensive Expense Report

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For more information on where companies spend their money and how to do so more efficiently, check out Concur’s Expense IQ Report. LEarn more at https://www.concur.com/FixIt

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Expense IQ: The Expensive Expense Report

  1. 1. In fact, compared to larger businesses, traveling small business professionals actually spend more over a given time period than their larger counterparts. One reason is that travelers at smaller companies tend to travel more frequently—having to cover more territory as a smaller staff. They also spend more on non-travel related items due to less sophisticated purchasing and requisitioning systems. Together, these expenses can add up to a significant savings opportunity for businesses that improve their travel and entertainment (T&E) processes. Following, we compare the quarterly spend amounts by an average traveler at a small and a large company Small businesses travel big. Small businesses spend almost 24% more on the road.
  2. 2. Small Business Large Business T & E Quarterly Spend per Filer (Traveler), 2012 T & E Quarterly Spend per Filer (Traveler), 2012 Airfare Small Business Large Business On average, small business travelers buy almost 37% more airline tickets per quarter than large business travelers.
  3. 3. Small Business Large Business T & E Quarterly Spend per Filer (Traveler), 2012 T & E Quarterly Spend per Filer (Traveler), 2012 Lodging Small Business Large Business
  4. 4. Small Business Large Business T & E Quarterly Spend per Filer (Traveler), 2012 T & E Quarterly Spend per Filer (Traveler), 2012 Dining Small business travelers eat out almost 10 times per quarter. While large business travellers only eat out 7.7 times per quarter. Small Business Large Business
  5. 5. Small Business Large Business T & E Quarterly Spend per Filer (Traveler), 2012 T & E Quarterly Spend per Filer (Traveler), 2012 Small Business Large Business Ground Transportation
  6. 6. Small Business Large Business T & E Quarterly Spend per Filer (Traveler), 2012 T & E Quarterly Spend per Filer (Traveler), 2012 Small Business Large Business Car Rental
  7. 7. Source: Concur.com In 2012, Concur clients spent more than $50 billion on T&E, which is the second- largest controllable cost for most companies, making it a key focus area when trying to improve the bottom line. With insight into where companies are spending their T&E dollars, businesses can make informed decisions about their spending while also being able to evaluate providers, confer with peers and negotiate better prices. For more information on where companies spend their money and how to do so more efficiently, check out Concur’s Expense IQ Report. Over where did it all go? $ 50billion–

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