Are Your Travel and Expense Costs Topping the Charts?

A SAP Concur blog post notes that according to Aberdeen Group, SMBs spend an average of $35.02 to process one expense report. Manual expense reports involve employees sorting receipts, entering data, making copies, following up on missing documentation, and obtaining approvals, which is time-consuming and error-prone. Finance teams also review and reconcile. The article provides a formula: annual hours spent on expense reports multiplied by average hourly rate divided by number of expense reports per year equals cost per report. It recommends automated cloud solutions like Concur Expense, which allows mobile receipt capture, reduces human error, provides near real-time visibility, and scale…