With so many employees behind the wheel driving to meet with clients and commuting between offices, self-reported mileage and personal vehicle expenses are one of the last expense categories many companies decide to tackle. But, taking control of this category with tracking technology that helps employees calculate mileage automatically can bring significant savings. Keep reading as we examine three personal mileage best practices you can put in place to end unreliable distance calculations and provide more accurate information for tax purposes.
Update your policies
Clearly define your company’s personal mileage policy in your expense policy. Sixty-three percent of frequent road travelers find submitting expenses a frustrating experience, making your mileage policy easily accessible can help you get started on the right foot and help assuage your travelers' frustrations head-on.
Keep it accurate
Each mile an employee drives incurs another cost. Give employees a to increase the accuracy of distances reported and reimbursed. Encourage employees to track mileage against maps online or provide them with an automated solution that uses GPS to track miles actually driven. Last year, SAP Concur customers spent $2.3 billion on mileage. Documenting miles more accurately leads to greater visibility and cost savings.
Make it mobile
Most of your employees already have the hardware they need to save your company 20%-30% in personal mileage spending in their pockets. Take advantage of the GPS tracking built into their mobile devices to make calculating mileage simple and intuitive, put an end to self-reported mileage, and gain control over personal vehicle expenses.
To dive deeper into these personal mileage best practices, read the e-book Driving Your Business: Best Practices for Personal Mileage Reporting