Keep It Simple: Study Finds More-Efficient T&E Reporting Means Less-Confused Business Travelers
Trends reveal an apparent disconnect between adoption of mobile technology for communication and its use for business expense reporting
Orlando, Fla. (June 5, 2012) — Less confusion and overall cost savings are among the top expense management goals of organizations with frequent business travelers, according to a study released this month.
The 2012 Trends in T&E Expense Management study, sponsored by The Institute of Financial Operations and InterplX Expense Management, finds “ease of use” as the most important factor in choosing travel and entertainment expense management solutions. Yet even with the proliferation of smartphones and tablet technology among business travelers, only a small percentage of business professionals are using them for expense reporting…
“Smartphones and tablets have changed the dynamics of how businesses and people stay connected,” says Jo LaBorde, executive director of The Institute. “But despite the increasing popularity of mobile technology, the majority of companies still rely on paper as the top way employees submit receipts and related documentation on travel and expense requests. Aligning technology use with expense reporting processes provides an opportunity for companies to increase efficiency and ease of use.” Nearly half (44.4 percent) of all organizational budgets represented in the annual T&E survey are less than $1 million, and more than half (58.1 percent) report fewer than 500 employees submitting expense reports.
Other key findings in the 2012 Trends in T&E Expense Management Study include:
- More than half (51.5 percent) of respondents indicate their company process offers an online booking tool for employee use.
- Nearly half (49.5 percent) of respondents indicate their companies use a corporate travel agency as the primary type of travel management organization for employees.
- Among companies that use travel and entertainment expense reporting solutions, paper-based systems (29.8 percent) are the most popular. Concur (18.1 percent) and InterplX (17 percent) are used by more than one-third of survey respondents in this group.
To view full report, visit 2012 T&E Trends Survey Results « InterplX Expense Management Software Solutions.