Breaking Down $50 billion: Industry Insight with the Expense IQ Report

What’s the best way to negotiate better deals, evaluate providers and efficiently measure and benchmark travel and expense patterns for next year? Try taking a look at the industry’s spend trends from last year.

In 2012, Concur clients spent more than $50 billion on T&E, the second-largest controllable cost for most companies — second only to payroll. But visibility into where that money goes is a challenge for companies of all sizes.

So to get some insight, we partnered with IDC to create the third annual Concur Expense IQ Report, an exclusive analysis of the T&E spend from more than 20 million Concur users worldwide.

 

A few key findings

 

  • We found that business travelers spent 93 percent more on airline ancillary fees in 2012 ($58 million) than they did in 2011 ($30 million). That means the addition and evolution of these elusive fees are challenging companies with nearly twice as much hidden or low-visibility spend.
  • This is in stark contrast to the 4.5 percent drop in overall spending in 2012. Much of this significant drop could be attributed to fourth-quarter events such as Hurricane Sandy, the U.S. Presidential election and concern about the “fiscal cliff.”
  • The report also uncovered that on average per quarter small businesses travel more often and spend more money on the road than large market companies – totalling 24 percent more.

Insight for all

For business and travel managers, the Expense IQ Report is an unparalleled inside view into T&E spend. Without access to this valuable set of controllable costs, organizations lack the means to negotiate lower rates and track their own T&E spending. The infographic below highlights the trends and behaviors industry-wide – comparing small and mid-size businesses with large companies.

Next week we’ll break down the report’s insights  for small to mid-size and large businesses. To read all the detailed findings and T&E highlights, download the full report!

Download your complimentary copy of the Expense IQ Report here.

 

 

ABOUT Concur Team

Concur is a leading cloud-based provider of integrated travel and expense management solutions. Our easy-to-use, Web-based and mobile solutions adapt to each employee’s preferences and scale to meet the needs of companies large and small. No matter what size the organization, we help control costs and save time. The Concur Connect platform allows an entire ecosystem of end users, customers, suppliers, and solution partners to access and extend the Concur T&E cloud, which delivers travel and expense solutions and services otherwise unavailable to them.

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ABOUT CONCUR

Concur 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 20,000 clients around the globe with around 30 million users. Learn more at www.concur.com.

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