Report On: Automated Expense Report Management
An Exploding Industry
Just a few years ago “Automated Expense Management” was a fast emerging new idea, and now today businesses are no longer just learning about expense report automation and tools like ExpensePoint®, but they are actively pursuing solutions and ready to invest into them right now.
The Automated Expense Industry is charging along at an unprecedented pace, MetaGroup Research estimates that the industry will become a $5 billion market at maturity. Currently, it is estimated that only 22% of businesses are using an Automated Expense System, leaving the majority of this growing multi-billion dollar opportunity up for grabs!
Manual Reporting – A Costly Process
It is reported that after payroll, Travel & Entertainment Costs rank as the second most controllable expense for businesses. Over $179 billion dollars is spent annually on employee-based travel and entertainment in the US and hundreds of millions of paper-based reports are filed to account for all of these expenses.
The bad news is that for those companies who have employees manually file expense reports, it can cost them up to 7.5 times more in processing time than if they used an automated expense reporting system. The good news is that now they can use ExpensePoint® and they can start saving time and money immediately!
ExpensePoint® - A Cost-Saving Solution
ExpensePoint® provides businesses with the ability to control and monitor their expenses. How?
The average cost for filing a manual report is estimated at a staggering $75.00 per report. By simply automating this process using ExpensePoint® companies can greatly reduce that cost to a mere $9.55 per report. When the savings are multiplied by the hundreds, thousands or even tens of thousands of reports being filed by each year by typical corporations, the savings are incredible.
Automating with ExpensePoint®, can reduce reporting costs by as much as 87% and could add hundreds of days in saved productivity to their traveling staff. A return on investment can be expected within one to six months, and not to mention the benefits realized in increased employee morale and satisfaction. Consider this; a company that has 100 traveling employees with each employee submitting just 1 single expense report per month could save in its first year a whopping $91,092.
The facts speak for themselves; ExpensePoint® saves time, money and adds excellent value to a traditionally non-value added process.
For more information visit www.expensepoint.com
Just a few years ago “Automated Expense Management” was a fast emerging new idea, and now today businesses are no longer just learning about expense report automation and tools like ExpensePoint®, but they are actively pursuing solutions and ready to invest into them right now.
The Automated Expense Industry is charging along at an unprecedented pace, MetaGroup Research estimates that the industry will become a $5 billion market at maturity. Currently, it is estimated that only 22% of businesses are using an Automated Expense System, leaving the majority of this growing multi-billion dollar opportunity up for grabs!
Manual Reporting – A Costly Process
It is reported that after payroll, Travel & Entertainment Costs rank as the second most controllable expense for businesses. Over $179 billion dollars is spent annually on employee-based travel and entertainment in the US and hundreds of millions of paper-based reports are filed to account for all of these expenses.
The bad news is that for those companies who have employees manually file expense reports, it can cost them up to 7.5 times more in processing time than if they used an automated expense reporting system. The good news is that now they can use ExpensePoint® and they can start saving time and money immediately!
ExpensePoint® - A Cost-Saving Solution
ExpensePoint® provides businesses with the ability to control and monitor their expenses. How?
The average cost for filing a manual report is estimated at a staggering $75.00 per report. By simply automating this process using ExpensePoint® companies can greatly reduce that cost to a mere $9.55 per report. When the savings are multiplied by the hundreds, thousands or even tens of thousands of reports being filed by each year by typical corporations, the savings are incredible.
Automating with ExpensePoint®, can reduce reporting costs by as much as 87% and could add hundreds of days in saved productivity to their traveling staff. A return on investment can be expected within one to six months, and not to mention the benefits realized in increased employee morale and satisfaction. Consider this; a company that has 100 traveling employees with each employee submitting just 1 single expense report per month could save in its first year a whopping $91,092.
The facts speak for themselves; ExpensePoint® saves time, money and adds excellent value to a traditionally non-value added process.
For more information visit www.expensepoint.com
posted by ExpensePoint @ 9:06 AM
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