Manually reporting on expenses, keeping track of paper receipts, and long approval and reimbursement cycles is a burden for on-the-go business travelers and back-office professionals alike.
It’s also a huge area of spend for organizations. In fact, PayStream reports that companies not fully automating these processes spend 39% more on their travel and expense annually.
Automated travel and expense management (TEM) technology was designed to fulfill the need for faster, more efficient and low-touch expense reporting that gives the traveling workforce more flexibility – without sacrificing organizations’ control over company spend.
The 2016 Travel and Expense Management Report, from technology research and consulting firm PayStream and KDS, offers insights on: