Despite the advances in technology and communication tools available to businesses, roughly two-thirds of companies still use Excel or pen and paper to manage their expenses. This creates a substantial labor and processing cost for each expense report. According to the 2011 Aberdeen Group Report, “Expense Management for a New Decade”, the cost of processing a single report for the bottom 30% of firms in the survey was $41.12, with compliance as low as 50%. Top rated firms - those in the top 20% using automated systems, spent as little as $7.17 per report and had a compliance rate of 87%. Expenses include hours spent by employees writing expense reports, hours spent by accounting processing and approving expense reports and the ongoing issue of compliance.
DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Our portfolio of live events, online and print publishing, business intelligence and professional development brands are centred on the complexities of technology convergence. Operating in 42 different countries, we have developed a unique global knowledge and networking platform, which is trusted by over 30,000 ICT, engineering and technology professionals.
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