Survey: 81% of UK Finance Leaders Have T&E Spend Blind Spots

SAP Concur published an article citing a survey of UK finance leaders, finding 81% have blind spots in their company's travel, expense and invoice spend. A typical company spends more than 10% of its annual budget on T&E. The article lists sources of blind spots: retrospective expense claims prevent cash-flow forecasting; around half of employees prefer to book independently even when the company has an online booking tool; supplier spend is fragmented across channels; more than two-thirds of finance leaders lack confidence in employee T&E policy compliance; and 77% of UK finance leaders lack confidence their business could quickly and accurately locate business travelers in an emergency.