T&E spend comprises up to 12% of a company’s annual budget, making it essential for company employees to track and manage this spend accurately and consistently. However, an automated expense report system not only provides on-demand and in-depth visibility into expense spending, it also significantly reduces errors, policy violations, as well as labor costs. When you compare the average cost of $41 to manually process an expense report, versus $7 to process an expense report using an automated system, the price differential is significant. Expense management automation has significant benefits, including faster reimbursements, increased expense compliance, clearer understanding of T&E spend, reduced budget and labor costs, and most of all, increased efficiency.
