Travel is a big expense for modern companies—and it’s not just the rising cost of airfare. When manual or partially automated reporting processes can’t keep up with cost tracking and reconciliation, it can negatively impact the bottom line.
But companies that take travel and expense management (TEM) in hand can save big. IDC interviewed eight Concur customers from organizations all around the world, from small business to the enterprise, and found that organizations that embrace TEM as a strategic tool average $54,900 per 100 users in benefits over three years. That’s an average benefits of $2.78 million, and 482 percent ROI. Not bad.
How’s your organization doing with managing operational costs like TEM? We’ve developed a handy infographic to help you determine where your organization falls on the spectrum of TEM maturity. Here’s an overview of the maturity flow.
Looking to develop a mature, proactive TEM system? For more information, see the IDC White Paper here.