Expense Management Outlook 2014
Expense Management Outlook
2014 March 5, 2014
March 5, 2014
Expense Management Outlook 2014
In February 2014, Certify conducted a survey asking businesses how they currently manage their T&E expenses and whether they are considering changes to their current system. This infographic illustrates the information Certify received in the survey responses.
COMPANY SIZE (EMPLOYEES)
This data was collected from 2.11.2014 through 2.19.2014, and included responses from Finance professionals and CFOs for small, mid-sized, and large enterprise businesses based in North America.
Small
< 50
Mid-Size
50 – 1000
Large
> 1000
(Enterprise)
Annual T&E Spend by Company Size 60%
40%
20%
0
< $50k
$50k – $499k
Travel Spend, 2013 vs. 2012
$500k – $999k
$1mm – $5mm
Projected Travel Spend, 2014 vs. 2013
ALL RESPONDENTS
8%
of small businesses
17%
of mid-size companies
7%
of large enterprises
ALL RESPONDENTS
Unknown
Less
10%
12% 20%
58%
Same 33% 26% 4%
small mid-size enterprise
> $5mm
42%
of small businesses
64%
of mid-size companies
63%
of large enterprises
Same
More 12% 60% 20%
28% 58% 12%
46% 26% 22%
small mid-size enterprise
Less More 54% 52% 70%
small mid-size
13% 11% 15%
small mid-size enterprise
enterprise
1
March 5, 2014
Expense Management Outlook 2014
Current T&E Management System 50%
COMPANY SIZE (EMPLOYEES)
40% 30% 20% 10%
Small
< 50
Mid-Size
50 – 1000
Large
> 1000
(Enterprise)
0 Pen & Paper
ERP/AP
Spreadsheets Homegrown Web-Based
Integrations ALL RESPONDENTS
65% General Ledger
60% 72%
of small businesses
46%
Corporate Credit Cards
A/P
CRM
20% 25%
63%
59%
20%
ERP
small enterprise
of large enterprises
38% 71%
small
57% 74%
enterprise
22% 53%
small enterprise
small enterprise
Travel Booking Methods SMALL BUSINESS
Travel Agency 13%
Combination 7% of Methods
MID-SIZE COMPANY
Software
Travel Websites
10% 35%
80% Travel Websites
Travel Agency 14%
ENTERPRISE
Travel Websites 14%
Travel Agency 23%
63%
41% Combination of Methods
Combination of Methods
2
March 5, 2014
Expense Management Outlook 2014
ALL RESPONDENTS
Most Critical Area to Improve Creation/Approval Process
Travel Booking 21%
System Integrations
Pressures Driving T+E Management Improvement
36%
20%
4% 19%
48%
Reduce expense processing costs
35%
Poor visibility into spend
27% Frequent non-compliant
Other
travel expenses
Mobility
T&E Pain Points
Reimbursement Time Line (Days)
Employee failure to submit reports on time 46%
60%
Employees loosing paper receipts 37%
35%
Reviewing for policy violations 27%
20%
0
Web-Based
Time to review and approve reports
Manual
40%
30
ABOUT CERTIFY Certify is a full-service travel and expense management company that makes expense reporting easy. Certify automates the creation of the expense report for the employee, providing online review and approval process for managers, and streamlining the processing and reimbursement process for accountants. Each year, Certify conducts a survey asking businesses about their current T&E management process and publishes the results. 3
2014 March 5, 2014
March 5, 2014
Expense Management Outlook 2014
In February 2014, Certify conducted a survey asking businesses how they currently manage their T&E expenses and whether they are considering changes to their current system. This infographic illustrates the information Certify received in the survey responses.
COMPANY SIZE (EMPLOYEES)
This data was collected from 2.11.2014 through 2.19.2014, and included responses from Finance professionals and CFOs for small, mid-sized, and large enterprise businesses based in North America.
Small
< 50
Mid-Size
50 – 1000
Large
> 1000
(Enterprise)
Annual T&E Spend by Company Size 60%
40%
20%
0
< $50k
$50k – $499k
Travel Spend, 2013 vs. 2012
$500k – $999k
$1mm – $5mm
Projected Travel Spend, 2014 vs. 2013
ALL RESPONDENTS
8%
of small businesses
17%
of mid-size companies
7%
of large enterprises
ALL RESPONDENTS
Unknown
Less
10%
12% 20%
58%
Same 33% 26% 4%
small mid-size enterprise
> $5mm
42%
of small businesses
64%
of mid-size companies
63%
of large enterprises
Same
More 12% 60% 20%
28% 58% 12%
46% 26% 22%
small mid-size enterprise
Less More 54% 52% 70%
small mid-size
13% 11% 15%
small mid-size enterprise
enterprise
1
March 5, 2014
Expense Management Outlook 2014
Current T&E Management System 50%
COMPANY SIZE (EMPLOYEES)
40% 30% 20% 10%
Small
< 50
Mid-Size
50 – 1000
Large
> 1000
(Enterprise)
0 Pen & Paper
ERP/AP
Spreadsheets Homegrown Web-Based
Integrations ALL RESPONDENTS
65% General Ledger
60% 72%
of small businesses
46%
Corporate Credit Cards
A/P
CRM
20% 25%
63%
59%
20%
ERP
small enterprise
of large enterprises
38% 71%
small
57% 74%
enterprise
22% 53%
small enterprise
small enterprise
Travel Booking Methods SMALL BUSINESS
Travel Agency 13%
Combination 7% of Methods
MID-SIZE COMPANY
Software
Travel Websites
10% 35%
80% Travel Websites
Travel Agency 14%
ENTERPRISE
Travel Websites 14%
Travel Agency 23%
63%
41% Combination of Methods
Combination of Methods
2
March 5, 2014
Expense Management Outlook 2014
ALL RESPONDENTS
Most Critical Area to Improve Creation/Approval Process
Travel Booking 21%
System Integrations
Pressures Driving T+E Management Improvement
36%
20%
4% 19%
48%
Reduce expense processing costs
35%
Poor visibility into spend
27% Frequent non-compliant
Other
travel expenses
Mobility
T&E Pain Points
Reimbursement Time Line (Days)
Employee failure to submit reports on time 46%
60%
Employees loosing paper receipts 37%
35%
Reviewing for policy violations 27%
20%
0
Web-Based
Time to review and approve reports
Manual
40%
30
ABOUT CERTIFY Certify is a full-service travel and expense management company that makes expense reporting easy. Certify automates the creation of the expense report for the employee, providing online review and approval process for managers, and streamlining the processing and reimbursement process for accountants. Each year, Certify conducts a survey asking businesses about their current T&E management process and publishes the results. 3
