Travel and entertainment (T&E) expense management has improved and evolved over the years from back-office services only, into robust software as a service (SaaS) solutions which provide numerous advantages over the old systems and methods. To learn why these changes are being embraced by companies of all sizes today,we sponsored a study with the Aberdeen Group that ran between January and Feburary of 2012 and involved 140 enterprises. The results of the study will help educate organizations on the strategic value of modern expense management solutions such as the ExpenseNet software suite we offer.
Five Compelling Facts We Learned About Best-in-Class Companies:
- They experienced 60% lower expense-processing costs than all other organizations
- They have achieved a 43% higher rate of business travel spend under management than all other companies.
- They have experienced a 31% higher rate of corporate policy compliance than all other organizations.
- They have executed 41% more of their travel and entertainment expenses on or below budget than all other companies.
- They have successfully audited 52% more of their T&E expenses than all others.
The study showed that top priorities for the companies involved in the research were:
- To improve the expense management process – 58%
- Drive more value out of business travel – 57%
- Enhance visibility into overall travel / expense spending – 55%
- Improve intelligence through analytics / reporting – 42%
The Best-in-Class companies also reported that the success of their expense management solutions were due to:
- Integration between corporate card and expense management systems – 78%
- Expense management analytics linked to corporate forecasting and planning – 57%
- Business traveleer utilization of mobile capabilities for expense management – 42%
We’re offering a free copy of the results (a $399 value) through our sponsorship of this study with the Aberdeen Group. Get your copy today and learn more about what the Best-in-Class companies are doing with their T&E Expense Management Software. We encourage anybody with questions or is merely interested in learning more about the topic to also contact us.
