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Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
2015 T&E Expense Benchmarking:
Are You...
• Benchmark key categories of your company’s travel and
entertainment expenses
• Identify how to Improve the budgeting, pl...
Proformative Event Notes
• Links to today's presentation and the recording of this webinar will be sent
out to all attende...
Proformative is the leading educational resource for corporate finance
professionals.
Announcing the new Proformative Acad...
Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
2015 T&E Expense Benchmarking: Are
You...
Speakers
7
Bob Neveu
President & Co-founder
Certify, Inc.
Bradley Seitz
President & CEO
Topaz International
Featured in:
About Certify
• Providing travel & expense solutions since 2008
• 64 languages, 140+ currencies, clients in 1...
About Topaz International
As seen in:
• Global corporate travel auditing and consulting services
firm established in 1978
...
The Importance of T&E
Reference: Corporate Card Benchmarking Survey, J.P.Morgan
Travel and entertainment (T&E)—second only...
Annual Spend on T&E
Reference: Certify’s Travel and Expense Trends Data, February 2014
0%
10%
20%
30%
40%
50%
60%
< $50k $...
How Employees Are Spending
Reference: Certify’s SpendSmart Report, Q2, 2014.
How the T&E budget is
being spent by business...
About the Data
Reference: Certify Annual Travel & Expense Management Survey 2015
• Third Annual Expense Management Trends ...
Polling Question
Top Pain Points
Largest Pain Points Surrounding T&E
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Reviewing for policy violations
...
Top Pressures & Areas for Improvement
Top T&E Pressures in 2014
36%
25%
21%
14%
4%
Areas to Improve for 2015
Software
depl...
How do organizations
overcome those pain points?
17
1. Automate key components of T&E expense management
• Ranked #1 for top priority in 2014 by 52% of companies in 2014
Aber...
Polling Question
T&E Expense Management Trends
Reference: Certify Annual Travel & Expense Management Survey 2015
38%
32%
19%
7%
4%
Cloud/we...
Reference: Certify Annual Travel & Expense Management Survey 2015
The Divide Between Small, Medium & Large Businesses
8%
4...
The shift to web-based expense systems
of small businesses have migrated off of
Excel/spreadsheets as their expense
manage...
T&E Expense Management: Looking Forward
Reference: Certify Annual Travel & Expense Management Survey 2015
53% of companies...
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Improve employee compliance rates to
corporate travel policies
Provide an expe...
Simplification with Integrations
25
0%
20%
40%
60%
80%
General Ledger Corporate Credit
Cards
AP ERP CRM
Integrations by Co...
13% 13%
44%
19%
14%
16%
6%
22%
76%
67%
60%
57%
43% 43%
31%
53%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Mobile receipt
capture
M...
Features Requested by Finance Department
27
Must-Have Features From
a Cloud-Based System
#1 Feature:
Automation
Policy
Enf...
Travel Booking Process
28
T&E Policies
of companies indicate
They have a T&E policy78%
29
of those companies are manually
reviewing expenses for pol...
Polling Question
14%
35% 36%
21%
1%
4%
31%
27%
19%
63%
0%
10%
20%
30%
40%
50%
60%
70%
T&E policy is not
enforced
It is the responsibility o...
Fraud in expenses
• 59% of companies indicated 20% of expenses submitted are in
violation of T&E policy
• 19% of expenses ...
Most Unconventional Business Expenses
in 2014
“Cher Tickets in Vegas – because I was in
Vegas and had a free evening”
– a ...
As a result of switching to Web-based expense systems,
your organization has experienced:
The Results of Switching
0% 10% ...
ROI on Expense Report Software
35
Time to Recoup Costs After Switching to
a Cloud-Based System
Small Businesses
Experience...
Discussion
2015 T&E Expense Benchmarking: Are Your
Employees Splurging on the Company Dime?
36
Thank You
Q & A
• You will be prompted to take a short survey once this
webinar concludes, we would greatly appreciate your
feedback regar...
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2015 T&E Expense Benchmarking: Are Your Employees Splurging on the Company Dime

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Travel and entertainment—second only to payroll as the largest business expense—is becoming increasingly more difficult to control as companies expand across borders and grow through acquisitions. Therefore effective budgeting, planning, and management of T&E expenses is critical for companies of all sizes in 2015 and beyond. How does your company’s overall Travel and Entertainment spend, and spend within key categories, compare with other companies? How are companies leveraging automation to better understand and control how employees are spending the company dime? Unfortunately, benchmarks for overall T&E spend and key T&E spend within each categories are all but impossible to find.

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2015 T&E Expense Benchmarking: Are Your Employees Splurging on the Company Dime

  1. 1. Sponsor
  2. 2. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals 2015 T&E Expense Benchmarking: Are Your Employees Splurging on the Company Dime
  3. 3. • Benchmark key categories of your company’s travel and entertainment expenses • Identify how to Improve the budgeting, planning, and management of your company’s T&E spend in 2015 • Recognize current and emerging trends in T&E automation After attending this event you will be able to: Learning Objectives
  4. 4. Proformative Event Notes • Links to today's presentation and the recording of this webinar will be sent out to all attendees within 24 hours of the event and the presentation is already posted on Proformative at the event’s landing page for free download. • Those who would like CPE credits (through NASBA) will need to answer all polling questions during the event and remain for the entire duration of the event. For any questions on CPE credits, please send an email to cpe@proformative.com. • Please ask questions on today's topic via the "Questions" box in your GoToWebinar control panel at any time during the event. We will do our best get to your questions during the Q&A/panel discussion at the end of the event. If we do not get to your question, a speaker or webinar sponsor will follow up with you directly to address your question. • You will be asked to take a short survey today regarding the webinar, and we would greatly appreciate your feedback regarding our event today as we always strive to improve the ROI we offer our event attendees for their valuable time.
  5. 5. Proformative is the leading educational resource for corporate finance professionals. Announcing the new Proformative Academy: • On demand video courses taught by peers and SMEs • Over 150 finance and accounting courses and growing rapidly • CPE for CPAs, CMAs, CTPs, and CIAs Check it out at www.ProformativeAcademy.com Welcome to Proformative
  6. 6. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals 2015 T&E Expense Benchmarking: Are Your Employees Splurging on the Company Dime Robert Neveu, President & Co-founder, Certify Bradley Seitz, President & Chief Executive Officer, Topaz International
  7. 7. Speakers 7 Bob Neveu President & Co-founder Certify, Inc. Bradley Seitz President & CEO Topaz International
  8. 8. Featured in: About Certify • Providing travel & expense solutions since 2008 • 64 languages, 140+ currencies, clients in 18 countries • #1 highest rated expense management software on G2Crowd, 4.8 out of 5 star rating • Over 15 million expense transactions in 2014 • Processing over $5 billion/ year in expense reports 8
  9. 9. About Topaz International As seen in: • Global corporate travel auditing and consulting services firm established in 1978 • Dedicated to finding a balance between cost savings and service levels for managed corporate travel programs • Clients include those with revenue as small at $1B up the largest global firms (Typical T&E spend of $1M in air up to over $200M annually) • Independent assessments to accurately evaluate the performance of corporate travel programs 9
  10. 10. The Importance of T&E Reference: Corporate Card Benchmarking Survey, J.P.Morgan Travel and entertainment (T&E)—second only to payroll as the largest business expense, accounts for 10%-12% of total annual budget $186,000,000,000 The projected amount North American companies will spend on travel and entertainment (T&E) in 2015, according to a report by J.P. Morgan 10
  11. 11. Annual Spend on T&E Reference: Certify’s Travel and Expense Trends Data, February 2014 0% 10% 20% 30% 40% 50% 60% < $50k $50k - $499k $500k - $999k $1mm - $5mm > $5mm Annual Spend on T&E Small Business Mid-sized Company Large Enterprise Less than 100 employees 101 – 999 employees More than 1,000 employees 11
  12. 12. How Employees Are Spending Reference: Certify’s SpendSmart Report, Q2, 2014. How the T&E budget is being spent by business professionals: Meals Flight Hotel Misc. Gas Cell Phone Rental Car Taxi Office Supplies Shipping Tolls Parking 22% 16% 14% 13% 12% 6% 5% 3% 2% 2% 2% 1% 12
  13. 13. About the Data Reference: Certify Annual Travel & Expense Management Survey 2015 • Third Annual Expense Management Trends Survey • Conducted December 2014 • Total Respondents: 434 companies (non-Certify clients) • Audience: • 28% small business, less than 100 employees • 37% mid-sized business, 101 – 999 employees • 35% large business, 1,000+ employees • Location: • 6% International • 94% U.S. • Demographics: • 38% C-level or above finance professionals • 43% Manager, Controller, or Accountant • 19% other (accounting staff, consultant, administrative, etc.) Expense Management Trends for 2014 13
  14. 14. Polling Question
  15. 15. Top Pain Points Largest Pain Points Surrounding T&E 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Reviewing for policy violations Reconciling the data Errors on the report Employees losing receipts Time it takes to reconcile, review, and approve Employee's failure to submit reports on time 15
  16. 16. Top Pressures & Areas for Improvement Top T&E Pressures in 2014 36% 25% 21% 14% 4% Areas to Improve for 2015 Software deployment Expense management process Mobility Travel booking Integration between systems Need to reduce expense costs Poor visibility into spend Lack of control over T&E spend Lengthy expense reimbursements (16%) Frequent instances of noncompliance (16%) 46% 27% 25% 16
  17. 17. How do organizations overcome those pain points? 17
  18. 18. 1. Automate key components of T&E expense management • Ranked #1 for top priority in 2014 by 52% of companies in 2014 Aberdeen Report 2. Take measures to improve and enforce corporate T&E policies • Ranked #2 by 48% companies 3. Arm travelers with better technologies to make T&E expense management simpler and faster • Mobile applications • Globally accessible tools 4. Leverage analytics to improve intelligence and data Key Strategic Actions to Improve Processes Reference: Aberdeen Group 2014, The Traveler & Expense Management Guide for 201418
  19. 19. Polling Question
  20. 20. T&E Expense Management Trends Reference: Certify Annual Travel & Expense Management Survey 2015 38% 32% 19% 7% 4% Cloud/web-based Excel/spreadsheets ERP Home-grown Pen & paper How do organizations currently manage their travel and expense reporting? 20
  21. 21. Reference: Certify Annual Travel & Expense Management Survey 2015 The Divide Between Small, Medium & Large Businesses 8% 47% 9% 1% 25% Pen & paper - 8% Excel/spreadsheets - 47% Home-grown - 9% ERP - 11% Cloud/web-based - 25% 2% 11% 6% 33% 48% Pen & paper - 2% Excel/spreadsheets - 11% Home-grown - 6% ERP - 33% Cloud/web-based - 48% 6% 34% 8%19% 34% Pen & paper - 6% Excel/spreadsheets - 34% Home-grown - 8% ERP - 19% Cloud/web-based - 34% T&E Expense Management Trends 21 Small Business Medium Business Large Business
  22. 22. The shift to web-based expense systems of small businesses have migrated off of Excel/spreadsheets as their expense management system within the last 12 months of small businesses currently use a web- based expense system, compared to 8% last year. 20% Reference: Certify Annual Travel & Expense Management Survey 201522 67% 25% of companies indicated Excel/spreadsheets as their expense management system in 2014
  23. 23. T&E Expense Management: Looking Forward Reference: Certify Annual Travel & Expense Management Survey 2015 53% of companies on a manual process, who have indicated they will switch to a web-based expense system, estimate they will switch within the next 12 months 23 21% 32% 26% 9% 9% Within the next 6 months 6 – 12 months 12 – 24 months 24 – 36 months Not sure The timeframe anticipated to switch to a cloud-based expense system:
  24. 24. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Improve employee compliance rates to corporate travel policies Provide an expense system accessible from anywhere Gain reporting and analytics around T&E spend Simplifying the expense reporting process Reason for Switching Driving force before the switch to web-based system 24
  25. 25. Simplification with Integrations 25 0% 20% 40% 60% 80% General Ledger Corporate Credit Cards AP ERP CRM Integrations by Company Size Manual Process Web-based system
  26. 26. 13% 13% 44% 19% 14% 16% 6% 22% 76% 67% 60% 57% 43% 43% 31% 53% 0% 10% 20% 30% 40% 50% 60% 70% 80% Mobile receipt capture Mobile report creation Direct deposit Automated expense reports Reporting & Analytics Integrated travel booking Multi-language User support for all Features by Expense Management Process: Are you getting the most out of your current process? Manual process Web-based system Feature by feature comparison 26
  27. 27. Features Requested by Finance Department 27 Must-Have Features From a Cloud-Based System #1 Feature: Automation Policy Enforcement Integrations finance systems Mobile Technology 51% 44% 34% 33% Ways to automate T&E management: • Auto-fill (parsing) technology: Extracts receipt and expense data from receipts, eliminating manual entry • Auto-created expense reports: Built by technology to create expense report matching receipt images to expense data • Direct feeds: Automated feeds sync data with accounting, HR, and corporate credit cards, eliminating manual data entry between systems • Automated approval workflows: Managers are instantly notified of electronic reports pending approval, decreasing expense report lifecycle and reimbursement times
  28. 28. Travel Booking Process 28
  29. 29. T&E Policies of companies indicate They have a T&E policy78% 29 of those companies are manually reviewing expenses for policy violations 65%
  30. 30. Polling Question
  31. 31. 14% 35% 36% 21% 1% 4% 31% 27% 19% 63% 0% 10% 20% 30% 40% 50% 60% 70% T&E policy is not enforced It is the responsibility of the employee Manager manually review each expense Manager manually review, checking only high value expenses T&E system automatically flags out- of-policy violations How companies enforce T&E policies Manual process Web-based system Policy Enforcement 31
  32. 32. Fraud in expenses • 59% of companies indicated 20% of expenses submitted are in violation of T&E policy • 19% of expenses submitted are “fraudulent”, with average amount of $115, amounting to $13.7 million in losses, according to a study by Oversight Systems • 5% of employees commit 82% of all fraud • Organizations who monitor compliance have a 70% decrease in fraudulent spending 32 Reference: http://www.businesstravelnews.com/Expense-Management/Study-- Fraudulent-Expense-Reports-Have-Cost-Cos--Millions-In-2014/?a=mgmt
  33. 33. Most Unconventional Business Expenses in 2014 “Cher Tickets in Vegas – because I was in Vegas and had a free evening” – a $125 value, purchased by employee at a small insurance company “2nd monitor– because I have two eyes” – employee at a mid-sized company “Two bottles of Johnnie Walker Blue – because a client ordered it” – employee at a small company 33
  34. 34. As a result of switching to Web-based expense systems, your organization has experienced: The Results of Switching 0% 10% 20% 30% 40% 50% Reduction/elimination of spreadsheets Decreased/eliminated manual data entry Reduced time spent creating and approving reports Increased insight into spend Faster reimbursements Increased frequency of expense reports being submitted Achieved Perceived 34
  35. 35. ROI on Expense Report Software 35 Time to Recoup Costs After Switching to a Cloud-Based System Small Businesses Experience Fastest ROI 9% 10% 24% 32% 25% ALL RESPONDENTS SMALL BUSINESS Less than 6 months 7 – 12 months 13 – 24 months 25 – 36 months 36+ months 57% report ROI within one year 70%25%Small businesses currently using a cloud- based system Small businesses with 100% ROI in one year or less
  36. 36. Discussion 2015 T&E Expense Benchmarking: Are Your Employees Splurging on the Company Dime? 36
  37. 37. Thank You
  38. 38. Q & A
  39. 39. • You will be prompted to take a short survey once this webinar concludes, we would greatly appreciate your feedback regarding this event. • Join us at www.proformative.com to continue this conversation with your peers in our community • Check out http://www.proformative.com/courses to see our great lineup of Proformative Academy on-demand courses taught by your peers and subject-matter-experts • Thanks to our speakers A Few Final Items
  40. 40. Sponsor

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