Optimizing Mileage Spend: A Key to Controlling Travel Budgets

A SAP Concur blog post states that organizations with high mileage spend up to 10.6% of their travel budget on mileage-related expenses. A quarter of drivers understate their annual mileage by 6,000 miles or more, causing U.S. organizations $5.4 billion in losses annually. Enterprise organizations using SAP Concur solutions report that mileage spend averages 3.7% of total expensed spend. The article recommends optimizing mileage spend through automated mileage tracking, reviewing T&E policies, educating employees on tracking tools, and considering Concur FAVR.