Expense Management Trends in Small to Mid-sized Business

11 Expense Management Trends in Small to Mid-sized Businesses With small to mid-sized businesses (SMB) spending 10% of their annual budgets on travel-related expenses, it's no surprise that cloud-based expense management systems are increasing in popularity. How SMB Manage Travel Expenses 50% 25% Manual data-entry with computer generated spreadsheets Cloud-based expense management What Systems do SMB Integrate their Expense Management System With? 52% 46% 39% Corporate General Accounts Credit Card Ledger Payable Areas of T&E Management in Need of Improvement T&E Management Financial Pressures 39% 48% Reducing expense-processing costs Expense management processing 39% 21% Poor insight into T&E spending and compliance Remote access and mobility Biggest Problems for SMB Expense Management 52% 49% 42% Lengthy review and approval times lost paper of employees fail to submit expense receipts reports on time Top Reasons SMB Switch to a Cloud-Based Solution The Future of SMB Cloud Expense Management 47% 65% 12 want to simplify the T&E reporting are expected to adopt a cloud-based T&E management system in the next 12 months process 28% 33% want to provide universal accessibility are expected to adopt a cloud-based T&E management system in the next 6 months 66 It takes me one-third of the time to do expense reports now. I'm spending maybe a couple hours a week versus six hours. 9 Jeannie Hagmeier, accounting department manager at ICAD certifyO Sources: Certify's Annual Expense Management Trends Survey, 2013 Aberdeen Group: T&E Expense Management: A Solution Selection Guide travel & expense made easy