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www.certify.com Travel & Expense Trends for 2015
www.certify.com Travel & Expense Trends for 2015
• Learn the business travel spend trends of 2014 and what to expect in 20...
www.certify.com Travel & Expense Trends for 2015
• Today’s event will be recorded and all attendees will be kept in listen...
www.certify.com Travel & Expense Trends for 2015
In 2008, Bob and his team launched the
Certify product featuring mobile
t...
www.certify.com Travel & Expense Trends for 2015
About Certify
• Industry-leading with first fully automated expense syste...
www.certify.com Travel & Expense Trends for 2015
Travel & Expense Trends for 2015:
How Does Your Company’s Expense
Managem...
www.certify.com Travel & Expense Trends for 2015
Travel and entertainment (T&E)—second only to payroll as the largest
busi...
www.certify.com Travel & Expense Trends for 2015
Annual Spend on Travel & Entertainment
The majority of mid-size companies...
www.certify.com Travel & Expense Trends for 2015
• Total Respondents: 434 companies (non-Certify clients)
• Audience:
• 28...
www.certify.com Travel & Expense Trends for 2015
How does your organization
currently manage its T&E
spend?
Poll Question
www.certify.com Travel & Expense Trends for 2015
www.certify.com Travel & Expense Trends for 2015
Reference: Certify’s Annual Travel & Expense Management Survey 2015
How d...
www.certify.com Travel & Expense Trends for 2015
T&E Expense Management Trends
The Divide Between Small, Medium & Large Bu...
www.certify.com Travel & Expense Trends for 2015
What is the largest pain point
surrounding expense management?
Poll Quest...
www.certify.com Travel & Expense Trends for 2015
Top Pain Points
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Reviewing for polic...
www.certify.com Travel & Expense Trends for 2015
Areas to Improve for 2015
Top T&E Pressures in 2014
Lengthy expense
reimb...
www.certify.com Travel & Expense Trends for 2015
How do organizations improve
T&E management processes
and overcome those ...
www.certify.com Travel & Expense Trends for 2015
1. Automate key components of T&E expense management
• Ranked the #1 top ...
www.certify.com Travel & Expense Trends for 2015
Expense Management Features
1. Automation
For example, automated expense ...
www.certify.com Travel & Expense Trends for 2015
Automation is the Finance Department’s
#1 requested feature. How are
comp...
www.certify.com Travel & Expense Trends for 2015
Ways to Automate T&E Management
1. AutoFill (Parsing) Technology
Extracts...
www.certify.com Travel & Expense Trends for 2015
How is your organization enforcing
T&E expense policies?
Poll Question
www.certify.com Travel & Expense Trends for 2015
www.certify.com Travel & Expense Trends for 2015
Policy Enforcement
14%
35% 36%
21%
1%
4%
31%
27%
19%
63%
0%
10%
20%
30%
4...
www.certify.com Travel & Expense Trends for 2015
T&E Policies
www.certify.com Travel & Expense Trends for 2015
Online Travel Sites
Travel Agency
Online Booking Tool
Corporate Travel
Ho...
www.certify.com Travel & Expense Trends for 2015
Fraud in Expenses
• 59% of companies indicated 20% of expenses submitted ...
www.certify.com Travel & Expense Trends for 2015
The Craziest Business Expenses of 2014
$125 Cher Concert Tickets
“Because...
www.certify.com Travel & Expense Trends for 2015
BENCHMARKING DATA FOR
KEY T&E CATEGORIES
www.certify.com Travel & Expense Trends for 2015
Reference: Certify’s SpendSmart Report, Q4, 2014
1. Meals
21%
2. Airfare
...
www.certify.com Travel & Expense Trends for 2015
Benchmarking Data: Expense Categories
Reference: Certify’s SpendSmart Rep...
www.certify.com Travel & Expense Trends for 2015
Benchmarking Data: Meal Expenses
Reference: Certify’s Annual Travel & Exp...
www.certify.com Travel & Expense Trends for 2015
T&E EXPENSE MANAGEMENT:
LOOKING FORWARD
www.certify.com Travel & Expense Trends for 2015
53% of companies on a manual process—who indicated they will switch to a
...
www.certify.com Travel & Expense Trends for 2015
Reasons for Switching
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Improve...
www.certify.com Travel & Expense Trends for 2015
Simplification with Integrations
0%
10%
20%
30%
40%
50%
60%
70%
80%
Gener...
www.certify.com Travel & Expense Trends for 2015
13% 13%
44%
19% 14% 16%
6%
22%
76%
67%
60%
57%
43% 43%
31%
53%
Mobile rec...
www.certify.com Travel & Expense Trends for 2015
ROI on Expense Management Software
Time to recoup costs after
switching t...
www.certify.com Travel & Expense Trends for 2015
CERTIFY: WEB-BASED SOFTWARE FOR
T&E EXPENSE MANAGEMENT
www.certify.com Travel & Expense Trends for 2015
ReceiptParse Technology
1. Snap a photo of your receipt with your phone
2...
www.certify.com Travel & Expense Trends for 2015
7/1/2014 - 7/31/2014
7/2/2014
7/2/2014
7/3/2014
7/5/2014
7/2/2014
7/3/201...
www.certify.com Travel & Expense Trends for 2015
www.certify.com Travel & Expense Trends for 2015
Q&A SESSION
www.certify.com Travel & Expense Trends for 2015
For more information about
Certify, visit www.certify.com
Thank you
for a...
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Travel & Expense Trends for 2015: How Does Your Businesses Expense Management Process Stack Up?

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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. Therefore effective budgeting, planning, and management of T&E expenses is critical for companies of all sizes in 2015 and beyond. How does your company’s overall Travel and Entertainment spend, and spend within key categories, compare with other companies? How are companies leveraging automation to better understand and control how employees are spending the company dime? Unfortunately, benchmarks for overall T&E spend and key T&E spend within each categories are all but impossible to find.
The good news is that Robert Neveu President & Co-founder, Certify will join us to reveal the latest buying trends in business travel based on research from Certify's SpendSmart Report, based on receipts and expenses data from over six million transactions and transaction-based data from Seamless. Among the key survey results Robert will discuss are:
Key Takeaways

Learn the business travel spend trends of 2014 and what to expect in 2015
Identify ways to improve management of your company’s T&E spend in 2015
Benchmark key categories of T&E to compare your company's overall spend with other organizations
Recognize current and emerging trends in T&E automation

Publié dans : Business
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Travel & Expense Trends for 2015: How Does Your Businesses Expense Management Process Stack Up?

  1. 1. www.certify.com Travel & Expense Trends for 2015
  2. 2. www.certify.com Travel & Expense Trends for 2015 • Learn the business travel spend trends of 2014 and what to expect in 2015 • Identify ways to improve management of your company’s T&E spend in 2015 • Benchmark key categories of T&E to compare your company's overall spend with other organizations • Recognize current and emerging trends in T&E automation Learning Objectives After attending this event you will be able to:
  3. 3. www.certify.com Travel & Expense Trends for 2015 • Today’s event will be recorded and all attendees will be kept in listen-only mode to eliminate excessive background noise. • Links to today’s presentation and the recording of this webinar will be sent out to all attendees within 24 hours of the event. • Please ask questions on today’s topic via the “Questions” box in your GoToWebinar control panel at any time during the event. We will do our best to get to your questions during the Q&A/panel discussion at the end of the event. If we do not get to your question, we will follow up with you directly to address your question. Webinar Event Notes
  4. 4. www.certify.com Travel & Expense Trends for 2015 In 2008, Bob and his team launched the Certify product featuring mobile technology and web-based automation. Certify has accelerated its position to become the second largest provider of expense reporting software in North America. Robert Neveu President & Co-founder Speaker
  5. 5. www.certify.com Travel & Expense Trends for 2015 About Certify • Industry-leading with first fully automated expense system • Providing travel & expense solutions since 2008 • 64 languages, 140+ currencies, clients in 18 countries • #1 Highest Rated Expense Management Software on G2 Crowd, with a 4.8 out of 5 star rating • Over 15 million expense transactions in 2014 • Processing over $5 billion/year in expense reports Featured in:
  6. 6. www.certify.com Travel & Expense Trends for 2015 Travel & Expense Trends for 2015: How Does Your Company’s Expense Management Process Stack Up? Learn the latest trends in travel and expense management for 2015. Presented by: Certify | Travel and Expense Made Easy
  7. 7. www.certify.com Travel & Expense Trends for 2015 Travel and entertainment (T&E)—second only to payroll as the largest business expense, accounts for 10–12% of total annual budget $186,000,000,000 The projected amount North American companies will spend on travel and entertainment (T&E) in 2015, according to a report by J.P. Morgan The Importance of T&E
  8. 8. www.certify.com Travel & Expense Trends for 2015 Annual Spend on Travel & Entertainment The majority of mid-size companies spend between $50k and $5mm on T&E $50k – $5mm Mid-Size Company 101 – 999 employees The majority of large organizations spend over $5mm on T&E > $5,000,000 Large Enterprise More than 1,000 employees The majority of small businesses spend less than $50k on T&E < $50,000 Small Business Less than 100 employees What companies of all sizes are spending on T&E: Reference: Certify’s Travel and Expense Trends Data, February 2014
  9. 9. www.certify.com Travel & Expense Trends for 2015 • Total Respondents: 434 companies (non-Certify clients) • Audience: • 28% Small Business: less than 100 employees • 37% Mid-Sized Business: 101 – 999 employees • 35% Large Business: 1,000+ employees • Location: • 6% International • 94% U.S. • Demographics: • 38% C-level or above finance professionals • 43% Manager, Controller or Accountant • 19% Other (accounting staff, consultant, administrative, etc.) Third Annual Expense Management Trends Survey About the Data Conducted in December 2014
  10. 10. www.certify.com Travel & Expense Trends for 2015 How does your organization currently manage its T&E spend? Poll Question
  11. 11. www.certify.com Travel & Expense Trends for 2015
  12. 12. www.certify.com Travel & Expense Trends for 2015 Reference: Certify’s Annual Travel & Expense Management Survey 2015 How do organizations currently manage their travel and expense reporting? T&E Expense Management Trends
  13. 13. www.certify.com Travel & Expense Trends for 2015 T&E Expense Management Trends The Divide Between Small, Medium & Large Businesses Manual - 64% ERP - 11% Web-Based - 25% Manual - 19% ERP - 33% Web-Based - 48% Manual - 48% ERP - 19% Web-Based - 34% Small Business Medium Business Large Business Reference: Certify’s Annual Travel & Expense Management Survey 2015
  14. 14. www.certify.com Travel & Expense Trends for 2015 What is the largest pain point surrounding expense management? Poll Question
  15. 15. www.certify.com Travel & Expense Trends for 2015 Top Pain Points 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Reviewing for policy violations Reconciling the data Errors on the report Employees losing receipts Time it takes to reconcile, review, and approve Employee's failure to submit reports on time Largest Pain Points Surrounding T&E Reference: Certify’s Annual Travel & Expense Management Survey 2015
  16. 16. www.certify.com Travel & Expense Trends for 2015 Areas to Improve for 2015 Top T&E Pressures in 2014 Lengthy expense reimbursements (16%) Frequent instances of noncompliance (16%) Need to reduce expense costs46% Poor visibility into spend 27% Lack of control over T&E spend 25% Top Pressures & Areas for Improvement Reference: Certify’s Annual Travel & Expense Management Survey 2015
  17. 17. www.certify.com Travel & Expense Trends for 2015 How do organizations improve T&E management processes and overcome those pain points?
  18. 18. www.certify.com Travel & Expense Trends for 2015 1. Automate key components of T&E expense management • Ranked the #1 top priority in 2014 by 52% of companies in the 2014 Aberdeen Report 2. Take measures to improve and enforce corporate T&E policies • Ranked #2 by 48% of companies 3. Arm travelers with better technologies to make T&E expense management simpler and faster • Mobile applications • Globally accessible tools 1. Leverage analytics to improve intelligence and data Key Strategic Actions to Improve Processes Reference: Aberdeen Group 2014, The Traveler & Expense Management Guide for 2014
  19. 19. www.certify.com Travel & Expense Trends for 2015 Expense Management Features 1. Automation For example, automated expense reports, direct credit card feeds, and automated approval workflows. 2. Policy Enforcement Employees receive immediate out-of-policy notifications, and companies can set expense limits by category. 3. Integrations with Finance Systems Manage large-scale user data through integrations with HRMS interfaces, multiple ERP systems, and accounting software. 4. Mobile Technology Mobile apps allow users to report and manage expenses remotely, whether using a smartphone to capture receipt images or for on-the-go travel booking. Must-have features requested by the finance department: Reference: Certify’s Annual Travel & Expense Management Survey 2015
  20. 20. www.certify.com Travel & Expense Trends for 2015 Automation is the Finance Department’s #1 requested feature. How are companies leveraging this technology?
  21. 21. www.certify.com Travel & Expense Trends for 2015 Ways to Automate T&E Management 1. AutoFill (Parsing) Technology Extracts receipt and expense data from receipts, eliminating manual entry 2. Automated Expense Report Creation with Scheduled Build days Expense reports are built automatically, ready for users to review and submit for approval. Users receive customizable email reminders, with optional manager notification of non-compliance. 3. Automated Approval Workflows Managers are instantly notified of electronic reports pending approval, decreasing expense report lifecycle and reimbursement times Standard Automated T&E Features: Emerging Technologies, Specific to Certify: 1. Credit Card Integrations Automated data feeds of corporate credit card transactions eliminates the reconciliation process 2. Mobile Receipt Capture Employees take a photo of a receipt with their smartphone, turning it into an electronic receipt 3. Online Expense Report Creation Create, submit and approve expense reports online, eliminating time-consuming spreadsheets 4. Direct Feeds Automated feeds sync data with accounting and HR, eliminating manual data entry between systems
  22. 22. www.certify.com Travel & Expense Trends for 2015 How is your organization enforcing T&E expense policies? Poll Question
  23. 23. www.certify.com Travel & Expense Trends for 2015
  24. 24. www.certify.com Travel & Expense Trends for 2015 Policy Enforcement 14% 35% 36% 21% 1% 4% 31% 27% 19% 63% 0% 10% 20% 30% 40% 50% 60% 70% T&E policy is not enforced It is the responsibility of the employee Manager manually review each expense Accountant manually reviews, checking only high value expenses T&E system automatically flags out- of-policy violations How Companies Enforce T&E Policies Manual Process Web-Based System Reference: Certify’s Annual Travel & Expense Management Survey 2015
  25. 25. www.certify.com Travel & Expense Trends for 2015 T&E Policies
  26. 26. www.certify.com Travel & Expense Trends for 2015 Online Travel Sites Travel Agency Online Booking Tool Corporate Travel How companies are booking travel: Reference: Certify’s Annual Travel & Expense Management Survey 2015 Manual Process Automation Open Booking (through direct provider) Online Travel Sites/Agencies (i.e. Expedia, Orbitz, Kayak) Online Booking Tool (OBT) (i.e. Carlson, Get There) Travel Agency (through a travel agent) PRO: Flexibility CON: No control over policy enforcement PRO: Flexibility CON: No control over policy enforcement PRO: Policy enforcement CONS: Contracts and systems; minimum transactions. Best for organizations spending over $2mm on T&E. PRO: Full-service policy enforcement CONS: Cost; $40-50 fee in addition to booking fees. Best for organizations spending over $4mm on T&E. Manual Process Web-Based Process
  27. 27. www.certify.com Travel & Expense Trends for 2015 Fraud in Expenses • 59% of companies indicated 20% of expenses submitted are in violation of T&E policy. • 6.3% of all transactions are “out of compliance,” according to a report by Oversight Systems. Of these noncompliant transactions, 19% of expenses submitted are “fraudulent” with average amount of $115, amounting to $13.7 million in losses. • Organizations who monitor compliance have a 70% decrease in fraudulent spending. Reference: www.businesstravelnews.com/Expense-Management/Study--Fraudulent-Expense-Reports-Have-Cost-Cos--Millions-In-2014
  28. 28. www.certify.com Travel & Expense Trends for 2015 The Craziest Business Expenses of 2014 $125 Cher Concert Tickets “Because I was in Vegas and had a free evening.” Expensed by an employee at a small insurance company 2nd Monitor “Because I have two eyes.” Expensed by an employee at a mid-sized company Beers at $100 each “Liquid to maintain life in the tropics.” Expensed by an employee at a mid-sized company
  29. 29. www.certify.com Travel & Expense Trends for 2015 BENCHMARKING DATA FOR KEY T&E CATEGORIES
  30. 30. www.certify.com Travel & Expense Trends for 2015 Reference: Certify’s SpendSmart Report, Q4, 2014 1. Meals 21% 2. Airfare 16% 3. Lodging 14% 4. Gas 12% 5. Misc. 8% 6. Cell Phone 6% 7. Car Rental 5% 8. Groceries 5% 9. Supplies 5% 10.Taxi 5% How the T&E budget was spent by business professionals: Spend Trends in 2014
  31. 31. www.certify.com Travel & Expense Trends for 2015 Benchmarking Data: Expense Categories Reference: Certify’s SpendSmart Report, 2013-2014 The average expense amounts, based transaction data from the 2014 Certify SpendSmart Report: Category 2013 2014 Difference Meals $26.08 $25.67 – 1.58% Airfare $329.65 $345.21 + 4.61% Lodging $200.24 $213.90 + 6.6% Car Rental $185.27 $193.58 + 4.39% Taxi $32.76 $31.81 – 2.94% Gas $50.73 $40.41 – 22.65% Parking $32.75 $32.70 – 0.15% Cell Phone $98.88 $89.30 – 10.18%
  32. 32. www.certify.com Travel & Expense Trends for 2015 Benchmarking Data: Meal Expenses Reference: Certify’s Annual Travel & Expense Management Survey 2015 | http://www.gsa.gov/portal/content/101518 A breakdown of meal expense amounts, based on Certify transactions and the GSA’s per diem meal rates: Meal Breakdown Average Expense Amounts for 2014 GSA Per Diem Highest Tier (Major Metros) Breakfast $11.88 $12 Lunch $21.46 $18 Dinner $28.24 $36 Total Per Day $61.58 $71* *includes $5 for incidental expenses
  33. 33. www.certify.com Travel & Expense Trends for 2015 T&E EXPENSE MANAGEMENT: LOOKING FORWARD
  34. 34. www.certify.com Travel & Expense Trends for 2015 53% of companies on a manual process—who indicated they will switch to a web-based expense system—estimate they will switch within the next 12 months. 21% 32% 26% 9% 9% Within the next 6 months 6 – 12 months 12 – 24 months 24 – 36 months Not sure The timeframe anticipated to switch to a cloud-based expense system: Switching from Spreadsheets Reference: Certify’s Annual Travel & Expense Management Survey 2015
  35. 35. www.certify.com Travel & Expense Trends for 2015 Reasons for Switching 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Improve employee compliance rates to corporate travel policies Provide an expense system accessible from anywhere Gain reporting and analytics around T&E spend Simplifying the expense reporting process What are the forces driving the switch to a web-based system? Reference: Certify’s Annual Travel & Expense Management Survey 2015
  36. 36. www.certify.com Travel & Expense Trends for 2015 Simplification with Integrations 0% 10% 20% 30% 40% 50% 60% 70% 80% General Ledger Corporate Credit Cards AP ERP CRM Integrations: Manual vs. Web-Based Manual Process Web-Based System
  37. 37. www.certify.com Travel & Expense Trends for 2015 13% 13% 44% 19% 14% 16% 6% 22% 76% 67% 60% 57% 43% 43% 31% 53% Mobile receipt capture Mobile report creation Direct deposit Automated expense reports Reporting & Analytics Integrated travel booking Multi-language User support for all Manual Process Web-Based System Reference: Certify’s Annual Travel & Expense Management Survey 2015 Expected Benefits vs. Achieved Results Expectations vs. Results
  38. 38. www.certify.com Travel & Expense Trends for 2015 ROI on Expense Management Software Time to recoup costs after switching to a web-based expense management system: Small Businesses Experience Fastest ROI 25% of small businesses currently use a web-based system of small businesses experience 100% ROI in one year or less 70% Reference: Certify’s Annual Travel & Expense Management Survey 2015
  39. 39. www.certify.com Travel & Expense Trends for 2015 CERTIFY: WEB-BASED SOFTWARE FOR T&E EXPENSE MANAGEMENT
  40. 40. www.certify.com Travel & Expense Trends for 2015 ReceiptParse Technology 1. Snap a photo of your receipt with your phone 2. Click AutoFill and the data is instantly extracted 3. Review the entry, and submit! Automated Expense Reports with ReportExecutive™ Automatic expense reports, coordinated to your company’s scheduling preferences. Configurable and always on time. • Add Receipts & Expenses Reminder • Submit Expense Report Reminder • Company-Wide Scheduling Save Time and Simplify Expense Reporting Mobile Technology Streamlines the Expense Reporting Process for On-The-Go Business Travelers
  41. 41. www.certify.com Travel & Expense Trends for 2015 7/1/2014 - 7/31/2014 7/2/2014 7/2/2014 7/3/2014 7/5/2014 7/2/2014 7/3/2014 7/3/2014 7/3/2014 National
  42. 42. www.certify.com Travel & Expense Trends for 2015
  43. 43. www.certify.com Travel & Expense Trends for 2015 Q&A SESSION
  44. 44. www.certify.com Travel & Expense Trends for 2015 For more information about Certify, visit www.certify.com Thank you for attending today’s session.

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