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You will hear silence until the webinar begins.
Audio is provided through your computer sp...
Tips for using WebEx
• Receiving Teleconference Info
• The chat box (asking questions/tech issues)
Housekeeping
• Handouts...
Learning Objectives
• Factors contributing to high expense report processing costs
• Top expense management pressures, pai...
Mark Brousseau
President and Owner
Brousseau & Associates
Today’s Presenter
Featured Speaker
5
Robert Neveu
CEO and Co-founder
• Industry-leading, first fully automated travel and expense
management system
• 64 languages, 140+ currencies, clients in...
Certify Annual Trends Study 2017
600+ accounting professionals from outside
the Certify customer base:
7
Inefficiencies in T&E
Expense Reporting
Expense Reporting Inefficiencies
Expense Reporting Around the World: Practices, Pain Points, and Productivity, GBTA, 2015
...
Print spreadsheets,
tape or staple receipts
and make copies
Enter expenses in Excel with
category, vendor, dates, etc.
And...
Check expenses for
receipts, review for out-
of-policy items, etc.
Receive reports for all
employees at different times
du...
Manually enter data
from accounting
software to payroll for
reimbursementManually enter
expense data into
accounting softw...
44
37
35
37
29
32
37
34
5
7
5 6
4 4
8
6
18 19
15
17
2014 2015 2016 2017
Methods for Managing T&E Reporting
Consistent mix ...
SMALL
BUSINESS
MID-SIZE
BUSINESS ENTERPRISE
33%
37%
8%
6%
16%
56%
10%
2%
8%
24%24%
55%
7%
2%
12%
Web-based solution (Concu...
56%
10%
2%
8%
24%
SMALL
BUSINESS
MID-SIZE
BUSINESS ENTERPRISE
24%
55%
7%
2%
12%
33%
37%
8%
6%
16%
Web-based solution (Conc...
Polling Question 1
a) Paper-based/spreadsheets
b) ERP system (Oracle, Microsoft Dynamics, etc.)
c) Web-based expense softw...
The #1 reason companies turn to
automation: simplifying expense
reporting process for employees
and managers (59%)
Certify...
Leading frustrations for T&E program administrators:
Top Expense Management Pain Points
18
Certify Annual Expense Manageme...
Top T&E Pressures to Improve in 2017
36% Need to reduce expense processing costs
31% Lack of control over T&E spending
31%...
Cost to Process a Single Expense Report
$6.85
fully automated
$17.31
semi-automated
$26.63
manual process
PayStream Adviso...
T&E Policy Compliance
79%of all companies report
having a written
T&E policy in place
21
Certify Annual Expense Management...
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 manual...
An estimated 20% of a total T&E
spend is considered out of policy
for the average company
Aberdeen Group 2012
27%
27%
30%
40%
59%
0% 10% 20% 30% 40% 50% 60% 70%
Reimburse employees faster
Improve employee compliance rates to corpora...
Who’s Turning to T&E Automation?
Certify Annual Travel & Expense Management Survey 2017
25
27%
of all companies planning
t...
Polling Question 2
a) Reducing process and workflow inefficiencies
b) Tighter controls for employee T&E spending
c) Loweri...
Benchmark Averages for
T&E Expense Spending
T&E spending ranks as the 2nd
most difficult operating expense
category to control
Forrester Research 2014
T&E Spending by U.S. Companies
1. Global Business Travel Association 2016
29
$293.1b
2017 travel and entertainment
spendin...
Business Investment in T&E
6-12%
total annual budget
for T&E expenses
(Aberdeen Group 2014)
PayStream Advisors 2016
Compan...
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. Supplie...
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. Supplie...
Category 2016 2017 Difference
Gas $30.32 $29.77 –1.81%
Airfare $274.00 $316.17 +15.39%
Lodging $223.45 $210.19 –5.93%
Car ...
www.gsa.gov, accessed 1/30/17
2017 U.S. GSA Per Diem Rates
34
GSA Lodging, Meals & Incidentals for San Francisco, CA
Lodgi...
Certify Annual Travel & Expense Management Survey 2016
Budgeting & Category Spending Caps
35
We do not have expense
catego...
Polling Question 3
a) Meals
b) Mileage
c) Airfare
d) Not sure
As a percent of total spending, what was your company’s
larg...
How does T&E automation
eliminate inefficiencies and
help control spending?
Must-Have Expense Reporting Features
Automation: Expense report creation, workflow process and
approvals, direct credit ca...
Mobile Makes T&E Easy for Employees
• Optical character recognition/auto-fill: snap photos
of receipts, automatically pars...
97% of business travelers carry at
least one mobile device; 80% used
their smartphone to plan or book
corporate travel in ...
Control Spending Before It’s Expensed
Pre-Trip Approval:
Requires manager authorization prior
to booking; configurable by ...
Companies that track and apply
unused tickets can save 5-8% of
total annual travel budget
2015 GBTA Ancillary Fee Handbook
Automate Policy Enforcement
• Set hard/soft policy controls: spending caps, report
requirements (i.e. meal attendees), ven...
Building company travel policy into
T&E expense reporting software has
been shown to improve compliance
rates as much as 4...
Integrate Systems, Maximize Efficiency
• Accounting systems: automate key accounting
functions and streamline workflow
• C...
Companies with an integrated T&E
solution experience 64% fewer
instances of reimbursement errors
Aberdeen Group 2014
Reporting Visibility Delivers Control
Workflow: monitor people and process, approval paths,
identify delays and other road...
Improving visibility into spend is a
driving force behind the switch to
automation for 30% of companies
Certify Annual Exp...
Questions?
Our Sponsor
Thank You!
Questions after the event? E-mail webinars@iofm.com
We hope to see you at a future AP Network event! For upcomi...
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2017 Travel and Entertainment Expense Management Trends: Eliminating Inefficiency, Controlling Costs

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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.

Publié dans : Business
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2017 Travel and Entertainment Expense Management Trends: Eliminating Inefficiency, Controlling Costs

  1. 1. The webinar will begin shortly. You will hear silence until the webinar begins. Audio is provided through your computer speakers only. If you are unable to hear the audio through your computer speakers, simply click on the phone icon above the chat window to receive teleconference information. Technical Support Problems for this Webinar: Email: webinars@iofm.com 2017 T&E Expense Management Trends: Eliminating Inefficiency, Controlling Costs
  2. 2. Tips for using WebEx • Receiving Teleconference Info • The chat box (asking questions/tech issues) Housekeeping • Handouts • This program will be recorded
  3. 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
  4. 4. Mark Brousseau President and Owner Brousseau & Associates Today’s Presenter
  5. 5. Featured Speaker 5 Robert Neveu CEO and Co-founder
  6. 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. 7. Certify Annual Trends Study 2017 600+ accounting professionals from outside the Certify customer base: 7
  8. 8. Inefficiencies in T&E Expense Reporting
  9. 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. 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. 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. 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
  13. 13. 44 37 35 37 29 32 37 34 5 7 5 6 4 4 8 6 18 19 15 17 2014 2015 2016 2017 Methods for Managing T&E Reporting Consistent mix of expense management systems: Certify Annual Expense Management Trends Report 2017 13 Cloud/web-based Excel spreadsheets ERP system Homegrown solution Pen and paper
  14. 14. SMALL BUSINESS MID-SIZE BUSINESS ENTERPRISE 33% 37% 8% 6% 16% 56% 10% 2% 8% 24%24% 55% 7% 2% 12% Web-based solution (Concur, IBM, etc.) Microsoft Excel/spreadsheets Pen and paper Homegrown solution ERP/accounting package (Oracle, SAP, etc.) T&E Systems by Company Size 14 Certify Annual Expense Management Trends Report 2017
  15. 15. 56% 10% 2% 8% 24% SMALL BUSINESS MID-SIZE BUSINESS ENTERPRISE 24% 55% 7% 2% 12% 33% 37% 8% 6% 16% Web-based solution (Concur, IBM, etc.) Microsoft Excel/spreadsheets Pen and paper Homegrown solution ERP/accounting package (Oracle, SAP, etc.) T&E Systems by Company Size 15 AUTOMATED SYSTEMS: 80% enterprise • 36% small businesses Certify Annual Expense Management Trends Report 2017
  16. 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. 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. 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. 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. 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. 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. 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. 23. An estimated 20% of a total T&E spend is considered out of policy for the average company Aberdeen Group 2012
  24. 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. 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. 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?
  27. 27. Benchmark Averages for T&E Expense Spending
  28. 28. T&E spending ranks as the 2nd most difficult operating expense category to control Forrester Research 2014
  29. 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. 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. 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. 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
  33. 33. Category 2016 2017 Difference Gas $30.32 $29.77 –1.81% Airfare $274.00 $316.17 +15.39% Lodging $223.45 $210.19 –5.93% Car Rental $186.45 $190.74 +2.30% Cell Phone $92.24 $89.00 –3.51% Meals $26.06 $27.02 +3.68% Misc. $55.71 $68.20 +22.41% Taxi $31.82 $27.90 –12.31% Benchmark Spending by Category Certify SpendSmart Report, Q4 2016-2017 33
  34. 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. 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. 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. 37. How does T&E automation eliminate inefficiencies and help control spending?
  38. 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. 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. 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. 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. 42. Companies that track and apply unused tickets can save 5-8% of total annual travel budget 2015 GBTA Ancillary Fee Handbook
  43. 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. 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. 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. 46. Companies with an integrated T&E solution experience 64% fewer instances of reimbursement errors Aberdeen Group 2014
  47. 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. 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
  49. 49. Questions?
  50. 50. Our Sponsor
  51. 51. Thank You! Questions after the event? E-mail webinars@iofm.com We hope to see you at a future AP Network event! For upcoming events please visit www.tapn.com.

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