SAP Concur Releases Travel Expense Policy Template and Key Components
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A clear expense policy underpins cost control, compliance, and faster reimbursement. For finance managers, a policy template can reduce non-compliant spend and improve budget accuracy.
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- SAP Concur BlogSAP Concur Releases Travel Expense Policy Template and Key Components
A SAP Concur blog says companies devote an average of 10% of budget to employee travel and expense, and a formal policy provides reimbursement guidance and real-time budget visibility. It cites Oversight data saying 37% of business travelers had at least one exception on their expense reports and the typical company loses at least 5% of annual revenue to fraud. It lists key policy components including purpose, booking guidelines, reimbursable items, limits, documentation, approval workflow, company cards, tax compliance, and technology.