What Energy & Utility Companies Are Getting Wrong About T&E Management — And How Digital Transforma…
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The energy sector faces FERC compliance requirements; digital T&E management improves efficiency and ensures compliance, reducing manual errors.
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- SAP Concur BlogWhat 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.