What Energy & Utility Companies Are Getting Wrong About T&E Management — And How Digital Transforma…
A SAP Concur blog post notes that 72% of energy and utility companies still rely on manual processes for travel and expense (T&E) management. Industry research shows 45% of sector leaders are prioritizing advanced T&E solutions to address evolving regulatory requirements, while 41% are focusing on supporting sustainability initiatives. Digital T&E management can achieve a 54% reduction in travel booking time, 43% improvement in expense report processing, and 50% acceleration in reimbursement cycles. The article also discusses FERC compliance requirements and change management strategies.
Impact and considerations
The energy and utilities sector faces FERC compliance requirements and challenges managing dispersed field teams. With 72% of companies still using manual processes, there is significant room for efficiency gains. Digital T&E management can significantly shorten booking and reimbursement cycles while improving complia…
Key points
- 72% of energy and utility companies still rely on manual processes for T&E management, including paper invoice entry and manual data scanning.
- 45% of sector leaders are prioritizing advanced T&E solutions to address evolving regulatory requirements, while 41% are focusing on supporting sustainability initiatives.
- Digital T&E management can achieve a 54% reduction in travel booking time, 43% improvement in expense report processing, and 50% acceleration in reimbursement cycles.
- FERC compliance requires precise accounting and reporting standards, necessitating meticulous expense categorization and documentation.
- Modern T&E solutions offer process automation, enhanced compliance, financial intelligence, system integration, and sustainability support.
- Change management strategies include strategic stakeholder engagement, clear value communication, executive championship, and unified organizational vision.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 14 Jan 2025, 18:46
- Page published
- 14 Aug 2026, 08:11
- Last updated
- 14 Jan 2025, 18:46
- Original links
- SAP Concur Blog：What Energy & Utility Companies Are Getting Wrong About T&E Management — And How Digital Transformation Can Help (opens in a new tab)Primary source · en · Published 14 Jan 2025, 18:46