When driving for work, the last thing that most employees want to focus on is tracking their mileage. From site visits to team leadership meetings and keeping their eyes on the road, mileage reporting is likely to be one of the last things on their mind. Once they’ve completed a trip, activating the meeting takeaways should be their focus, rather than submitting a mileage report. Turning on mobile app functionality for automated mileage capture can significantly reduce the amount of time employees spend submitting and approving mileage. In addition to inefficiency, manual mileage reporting leaves significant room for inaccuracy and a need for explanation. Since employees are the greatest assets for most organizations, saving them time on mileage reporting can have a significant impact on the employee experience and bottom line. Take a look at where mileage sits as a percentage of your overall expensed spend reporting. For most SAP Concur customers, it ranges from 2-12%, which can add up to a significant chunk of change.
How much can I save?
In addition to saving your employees time, you’ll also save your organization money with automated mileage tracking. SAP Concur experts estimate that you can shave at least one minute off every mileage transaction reported. For instance, if you use the Glassdoor average hourly rate of $37.50/hour and calculate for 33,000 entries, you could save $20,625 for your organization. Use our handy formula to calculate the total mileage reporting savings for your organization:
What level of impact does mileage reporting really have?
With so many competing priorities, how do you determine if addressing the time spent on mileage reporting will have a big enough impact? Running a report to see what percentage mileage makes up of total expense spend will help you determine its priority, and if adjustments may be needed. Here’s a benchmark report of SAP Concur customers broken down by industry for your comparison:
(click to enlarge)
Getting the most out of those miles
Offering employees a way to automatically capture and report mileage from GPS tracking solutions instead of providing self-reported estimates can reduce the amount of time spent submitting and approving mileage. Not only does this save time and improve the employee experience, but it also increases accuracy of mileage reporting and reimbursement amounts, which means your organization can get a more accurate picture of what is truly being spent on mileage. Here are some best practices to start saving time and money on mileage reporting:
- Capture distance automatically with GPS tracking enablement
- Configure the auto deduct commute option
- Consider promoting rideshare when appropriate
- Use data to monitor mileage trends