SAP Concur Surveys: Reduced Business Travel Hit Company Revenue
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The survey links reduced travel directly to revenue loss while most companies remain unprepared for a rebound, making travel and expense management capability a priority for finance and travel managers.
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- SAP Concur BlogSAP Concur Surveys: Reduced Business Travel Hit Company Revenue
SAP Concur commissioned Wakefield Research to survey 100 U.S. finance managers and 1,000 U.S. business travelers in January 2022. 88% of finance managers said their company lost revenue over the past year because employees could not travel at pre-pandemic levels; 44% of travelers said their company needs more business travel to remain viable beyond 2022. 84% of finance managers said their company is less than completely prepared for a 2022 travel rebound, 98% saw more non-compliant expenses, and 89% of travelers admitted submitting questionable expenses averaging $3,397.