What Every CPO Should Know About Employee Spend

An SAP Concur blog post notes that the pandemic accelerated finance digital transformation and significantly shifted employee spending patterns. In 2020, SAP Concur customers saw a 58% increase in the 'Other' expense category, signaling reduced spend visibility. The article advises CPOs to address three questions: whether travel and expense data are connected, which channels employees use to spend company funds, and how to capture rogue spend outside traditional travel channels. It stresses that procurement executives should not focus solely on cost reduction when renegotiating travel supplier agreements, but must ensure key suppliers are adequately compensated for traveler health efforts.