- Manage T&E Expenses
- Learn Best Practices
- Create T&E Policies
Benchmarks: Travel & Entertainment Expense Reimbursement Practices
Brought to You by The Accounts Payable Network and Concur
Travel and entertainment expenses are a controllable expense and should be managed to optimize value to the company not only with regard to the amount of travel, but in terms of policy compliance and processing practices.
This study, which captures key T&E expense reimbursement practices and metrics of 686 organizations, provides a means for comparison for all organizations. This study also illustrates the advantages of automation of the T&E reporting and reimbursement process, including lower cost, faster turnaround times and easier, more efficient receipt management. Automation also offers the opportunity to add value to an organization through facilitation of auditing and spend management.
This information-packed benchmark study reveals:
- Responsibility for T&E expense reimbursement processing within an organization
- Use of credit cards in T&E – company T&E card, one card, personal card or combination
- Liability for corporate card charges
- Report submission deadline practices
- Method of report submission
- Advantages of automated T&E system implementation showing cost savings as high as 50%
- Cash advance practices
- Policies for receipts; turnaround times
- Percentage of expense reports audited
- Benefits of spend analysis
- T&E policies and best practices
About the Publisher
The Accounts Payable Network (TAPN) is the leading resource for helping accounting and finance executives meet their commitments to accounts payable business process performance. With TAPN's robust database of original AP content, calculators, AP business tools, white papers, case studies and current accounts payable news from around the world, members have unrestricted access to critical information guaranteed to help them make smart business decisions.
Members tap into the best practices and benchmarking data they need to measure and improve accounts payable processes for optimum efficiency and cost savings. Management strategies, technological solutions and essential tools help save member organizations time and money and make individuals more effective leaders. Current accounts payable news provides insights and keeps members on top of the latest AP developments. Focus areas include best practices for all AP functions, AP metrics and benchmarking; tax and regulatory compliance; solutions to real-world problems; AP automation; case studies; member Q & A networking forums and more than 250 downloadable, customizable AP policies, flowcharts, templates and internal-control checklists.
About the Sponsor
is a leading provider of integrated travel and expense management solutions. Founded in 1993 on the premise of helping drive costs out of businesses through innovation, Concur's services are trusted by over 10,000 clients around the globe with over 15 million users.
It's estimated that approximately 20 percent of travel and entertainment (T&E) spend is out of policy*. Concur's easy-to-use Web-based and mobile solutions enable employees to spend within policy, helping their companies control costs and save time. Concur's systems adapt to individual employee preferences, while scaling to meet the needs of companies from small to large.
For organizations, Concur helps ensure that corporate travel is booked within policy before the trip is taken and reconciles expenses after travel is completed. And by delivering electronic receipts – from airlines, hotels, and car rental companies – directly into expense reports, Concur virtually eliminates the need to track and manage paper receipts.
By capturing and reporting on every aspect of T&E spend, Concur's services provide detailed information to help clients effectively negotiate with vendors, create budgets and manage compliance. Trusted by businesses of all sizes in more than 100 countries, Concur's on-demand services process over $50 billion in T&E spend a year – equal to roughly 10 percent of the world's T&E spend.