A new survey of more than 600 CFOs, controllers and accounting professionals identifies the top trends and approaches to expense management for today’s small, midsized and enterprise businesses. Learn what other leading companies are doing to overcome their T&E expense challenges and leverage findings from the survey to improve expense reporting at your company.
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2017 Travel and Entertainment Expense Management Trends: Eliminating Inefficiency, Controlling Costs
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2017 T&E Expense Management Trends:
Eliminating Inefficiency, Controlling Costs
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3. Learning Objectives
• Factors contributing to high expense report processing costs
• Top expense management pressures, pain points and areas of opportunity
• Annual budget and benchmark spending by category for T&E expenses
• Finance professionals’ must-have expense reporting features for 2017
• How automation helps to eliminate inefficiency and control costs
Attending this event will help you understand:
3
6. • Industry-leading, first fully automated travel and expense
management system
• 64 languages, 140+ currencies, clients in 80 countries
• #1 highest rated expense management software for user
satisfaction on G2 Crowd
• PC Magazine Editors’ Choice for best expense management
software of 2016
• Processing nearly 40 million expenses and receipts valued
at $10+ billion in 2016
About Certify
7. Certify Annual Trends Study 2017
600+ accounting professionals from outside
the Certify customer base:
7
9. Expense Reporting Inefficiencies
Expense Reporting Around the World: Practices, Pain Points, and Productivity, GBTA, 2015
9
up to
minutes to complete
one expense report
minutes to correct
expense reports errors
average number of
reports with errors
23 15-22
22%
10. Print spreadsheets,
tape or staple receipts
and make copies
Enter expenses in Excel with
category, vendor, dates, etc.
And then … waitGather receipts,
itineraries and write down
non-receipt items
Sign report/date
report and present
or mail to manager
Employees
Manual Expense Reporting Process
AccountantsManagers
11. Check expenses for
receipts, review for out-
of-policy items, etc.
Receive reports for all
employees at different times
during the month/quarter
If errors, return report to
employee to start over;
wait for resubmission Sign/approve reports
and route to the next
manager or to AP
Manual Expense Reporting Process
Employees AccountantsManagers
12. Manually enter data
from accounting
software to payroll for
reimbursementManually enter
expense data into
accounting software
Check for receipts,
manager approvals,
out-of-policy items, etc.
Receive reports for all
employees at different
times of the month/quarter
Match receipts with line-
items, verify all charges,
dates and vendors
Manual Expense Reporting Process
Employees AccountantsManagers
16. Polling Question 1
a) Paper-based/spreadsheets
b) ERP system (Oracle, Microsoft Dynamics, etc.)
c) Web-based expense software (Certify, Concur, etc.)
d) Not applicable
How does your organization currently manage
T&E expense reporting?
17. The #1 reason companies turn to
automation: simplifying expense
reporting process for employees
and managers (59%)
Certify Annual Expense Management Trends Report 2017
18. Leading frustrations for T&E program administrators:
Top Expense Management Pain Points
18
Certify Annual Expense Management Trends Report 2015-2017
2015 2016 2017
Employees losing paper receipts/submitting without receipts 33% 50% 52%
Employees failure to submit reports on time 39% 45% 51%
Time it takes to reconcile, review and approve reports 38% 38% 36%
Reviewing for policy violations 20% 30% 28%
Errors on expense reports (incorrect codes, amounts, etc.) 23% 28% 26%
19. Top T&E Pressures to Improve in 2017
36% Need to reduce expense processing costs
31% Lack of control over T&E spending
31% Poor visibility into travel/expense data
21% Frequent non-complaint travel/expenses
20% Lengthy reimbursement times
19
Certify Annual Expense Management Trends Report 2017
20. Cost to Process a Single Expense Report
$6.85
fully automated
$17.31
semi-automated
$26.63
manual process
PayStream Advisors 2016
31%
16%
9%
44%
Under $7 per report $10−$20 per report
$25 or more per report We do not track these costs
20
Certify Annual Expense Management Trends Report 2017
21. T&E Policy Compliance
79%of all companies report
having a written
T&E policy in place
21
Certify Annual Expense Management Trends Report 2017
75%manually review each
expense report report
for policy violations
22. 7%
39%
41%
15%
26%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
T&E policy is not
enforced
Employee is responsible Manager manually
review each expense
Manager manually
review, checking only
high value expenses
T&E system
automatically flags out-
of-policy violations
Policy Enforcement Practices (all companies)
22
Certify Annual Expense Management Trends Report 2017
23. An estimated 20% of a total T&E
spend is considered out of policy
for the average company
Aberdeen Group 2012
24. 27%
27%
30%
40%
59%
0% 10% 20% 30% 40% 50% 60% 70%
Reimburse employees faster
Improve employee compliance rates to corporate
policy
Gain reporting and analytics around T&E spend
Provide system accessibly from anywhere
(online, mobile)
Simplify process for employees and managers
Driving Force Behind T&E Automation
Certify Annual Travel & Expense Management Survey 2017
24
25. Who’s Turning to T&E Automation?
Certify Annual Travel & Expense Management Survey 2017
25
27%
of all companies planning
to make the switch will do
so in the next 12 months
26. Polling Question 2
a) Reducing process and workflow inefficiencies
b) Tighter controls for employee T&E spending
c) Lowering expense report processing costs
d) Increasing travel policy compliance
What is your organization’s top area for T&E
improvement in the year ahead?
28. T&E spending ranks as the 2nd
most difficult operating expense
category to control
Forrester Research 2014
29. T&E Spending by U.S. Companies
1. Global Business Travel Association 2016
29
$293.1b
2017 travel and entertainment
spending by U.S. companies
+ 3.8%
from the
previous year
30. Business Investment in T&E
6-12%
total annual budget
for T&E expenses
(Aberdeen Group 2014)
PayStream Advisors 2016
Company Revenue Annual Spend
Under $100MM $700,000
$100MM to $500MM $1,500,000
$501MM to $2b $7,400,000
$2b and above $58,000,000
31. 1. Meals 19%
2. Airfare 15%
3. Lodging 14%
4. Misc. 13%
5. Gas 11%
6. Taxi 9%
7. Cell phone 5%
8. Car rental 5%
9. Supplies 5%
10. Shipping 2%
11. Tolls 1%
12. Parking 1%
How the Expense Budget is Spent
Certify SpendSmart Report, Q4 2016
31
Meals
Airfare
Lodging
Misc.
Gas
Taxi
Cell
Phone
Car
Rental
Supplies
Shipping Tolls Parking
32. 1. Meals 19%
2. Airfare 15%
3. Lodging 14%
4. Misc. 13%
5. Gas 11%
6. Taxi 9%
7. Cell phone 5%
8. Car rental 5%
9. Supplies 5%
10. Shipping 2%
11. Tolls 1%
12. Parking 1%
How the Expense Budget is Spent
32
Meals
Airfare
Lodging
Misc.
Gas
Taxi
Cell
Phone
Car
Rental
Supplies
Shipping Tolls Parking
$98.74
DAILY
MEAL COST
2016
Certify SpendSmart Report, Q4 2016
2016 Business Travel News Corporate Travel Index
34. www.gsa.gov, accessed 1/30/17
2017 U.S. GSA Per Diem Rates
34
GSA Lodging, Meals & Incidentals for San Francisco, CA
Lodging (per night) Breakfast Lunch Dinner
$267 $17 $18 $31
Incidental -- $5 $5 $5
35. Certify Annual Travel & Expense Management Survey 2016
Budgeting & Category Spending Caps
35
We do not have expense
category limits
26%
Based on internal
historical spending
23%
Follow U.S. GSA per
rate guidelines
23%
Determined by
annual budgeting
process
21%
Other
7%
36. Polling Question 3
a) Meals
b) Mileage
c) Airfare
d) Not sure
As a percent of total spending, what was your company’s
largest expense category in 2016?
37. How does T&E automation
eliminate inefficiencies and
help control spending?
38. Must-Have Expense Reporting Features
Automation: Expense report creation, workflow process and
approvals, direct credit card feeds
Mobile Applications: Smartphone-enabled receipt image
capture, mobile report creation/approval, and policy tools
Compliance: Duplicate receipts/expenses, category spending
limits, automatic notification of violations
Integration: Accounting software, general ledger, HRIS, CRM,
ERP, ACH direct deposit
Reporting: Greater visibility into process and spending by
category, department, employee, etc.
38
Certify Annual Travel & Expense Management Survey 2017
39. Mobile Makes T&E Easy for Employees
• Optical character recognition/auto-fill: snap photos
of receipts, automatically parse data into reports
• Mobile report creation: build expense reports from
the road as receipts are captured and saved
• Remote approvals: managers can review and
approve reports from any location to reduce delays
Top features for mobile T&E reporting:
Aberdeen Group 2014
90% best-in-class companies have remote expense
management capabilities via mobile app
2016
40. 97% of business travelers carry at
least one mobile device; 80% used
their smartphone to plan or book
corporate travel in 2014
Expedia/Egencia Mobile Index 2014
41. Control Spending Before It’s Expensed
Pre-Trip Approval:
Requires manager authorization prior
to booking; configurable by employee,
policy specifics, etc.
Lowest Logical Fare:
Automatically identifies best available
rates for proposed itinerary (and only
best available rates)
$
41
42. Companies that track and apply
unused tickets can save 5-8% of
total annual travel budget
2015 GBTA Ancillary Fee Handbook
43. Automate Policy Enforcement
• Set hard/soft policy controls: spending caps, report
requirements (i.e. meal attendees), vendor preference
• Eliminate duplicate receipts/expenses: automatically
identify duplicate receipts, flag out-of-policy expenses
• Manage expense reporting on time: automatic report
build reports, employees/manager notifications
Instant policy check via the mobile
expense reporting app
44. Building company travel policy into
T&E expense reporting software has
been shown to improve compliance
rates as much as 44%
Aberdeen Group 2013
45. Integrate Systems, Maximize Efficiency
• Accounting systems: automate key accounting
functions and streamline workflow
• Corporate credit cards: direct control over
employee spending, faster reconciliation
• Corporate systems: reduce data entry and errors
across multiple redundant systems
• ACH reimbursement: direct deposit for more
efficient reimbursement, simplified accounting
46. Companies with an integrated T&E
solution experience 64% fewer
instances of reimbursement errors
Aberdeen Group 2014
47. Reporting Visibility Delivers Control
Workflow: monitor people and process, approval paths,
identify delays and other roadblocks
Compliance: review processed and in-progress reports,
policy violations, fraudulent behavior
Spending: analyze by expense category, mileage,
department, employee, and more
48. Improving visibility into spend is a
driving force behind the switch to
automation for 30% of companies
Certify Annual Expense Management Trends Report 2017
51. Thank You!
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