research studies

Travel & Expenses-What the industry leaders have to say

Read a report prepared by KPMG on the Challenges and Leading Practices in Expense Management (May 2004).
Click here to read the report.
~ KPMG LLP (UK)
_________________________________________________________________________

Over 34% of all employees claim expenses with Business expenses totally over 1.69 billion (Inland Revenue 1999/2000).
~ Henley Resources
_________________________________________________________________________

"Travel & Expenses is the second-largest controllable expense at companies today.
"Only salaries eclipse T&E as a controllable corporate expense these days. So, there's a new urgency out there…to rein in spiralling T&E costs, and companies are becoming more aggressive in implementing innovative strategies and technology to help."
"Company's have ushered in a new get tough era of sophisticated cost management for travel and entertainment expenses, now the second largest controllable expense at corporations"
~ American Express Survey of business travel management 2000/2001
_________________________________________________________________________

When the economy takes a turn for the worse, businesses start examining operational expenses. Unlike in previous recessionary periods, however, Expense Management Automation (EPA) solutions are now available to help companies scrutinise and control enterprise spending by automating the filing, approval, payment and control of employee expenditures.

· Average time to complete an expense claim falls by more than 60%
· Average cost to process an expense claim falls by more than 80%
· Average time to settle an expense claim falls by up to 90%
· Expect to pay up to 10% for goods and services through vendor negotiations
~ Aberdeen Group December 2001
_________________________________________________________________________

In a survey of 50 companies of various size and from a wide range of sectors using Expense Management Automation:

Overall Survey Results
Employee expense process time reduced by 49%
Accounts payable process time reduced by 77%
Overall cycle time reduced by 79%
Overall cost to process an expense reduced by 63%

Return on Investment
79% of respondents reported Administrative savings
33% were able to redeploy workers
53% were able to reduce employee levels
~ Aberdeen Group July 2002
_________________________________________________________________________

Ernst & Young support the statistics and suggest that an organisation can expect a minimum reduction in processing costs as much as 50%.
~ Ernst & Young
_________________________________________________________________________

Around 2.5million employees believe that it is acceptable to exaggerate their expense claims at work, estimates accounting systems solutions provider Cevas Data Systems.
Of the 10 million employees that claim expenses, a survey estimated that 25 percent think that it is acceptable to exaggerate claims some or all of the time.
~ Cevas Data Systems March 2001