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Strategic Approaches to Travel and Entertainment Expense Management

Strategic Approaches to Travel and Entertainment Expense Management. ADP Canada. More than 60 years of expertise Services 50,000 Canadian businesses Pays one in four Canadians in the private sector One of five US non-financial companies with a AAA-credit rating.

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Strategic Approaches to Travel and Entertainment Expense Management

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  1. Strategic Approaches to Travel and Entertainment Expense Management

  2. ADP Canada • More than 60 years of expertise • Services 50,000 Canadian businesses • Pays one in four Canadians in the private sector • One of five US non-financial companies with a AAA-credit rating ADP is the leading provider of HR, payroll and time and attendance management services.

  3. ADP Canada Accumulated over 10 years of expertise in working with clients to improve organizational efficiencies while leveraging new technology. Holds a Bachelor's degree from the University of Calgary, major in Economics and minor in Commerce. Joined ADP in 2007 as a Specialist in expense management business processes in Western Canada. Ben Ferraro

  4. Book Trip (Web, Agent) Accounts Payable GL Entry Return / Re-submit Create Expense Report Printed Exp.Report Courier Take Trip / Incur exp Approval Reimburse via cheque Manual Audit Typical Manual Expense Management Process

  5. Difficult to enforce corporate travel & expense policy Manual data entry is inefficient, redundant, and leads to errors Workflow is disjointed and difficult to track expense report status Long Reimbursement time Document storage can be expensive and difficult to locate Limited ability to run meaningful reports on T&E spend Challenges with Manual Process

  6. Why Automate? "…The second-largest controllable expense is Travel & Entertainment (T&E) Expense… The benefits of automating are immediate and come from areas such as policy compliance, cash management and vendor-negotiated discounts.” T&E is the 2nd largest controllable expense Source: The B2B Analyst by U.S. Bancorp Piper Jaffrey

  7. Book Trip (Web, Agent) Accounts Payable GL Entry Return / Re-submit Create Expense Report Printed Exp.Report Courier Take Trip / Incur exp Approval Reimburse via cheque Manual Audit Typical Manual Expense Management Process

  8. Complete ExpenseReport Approval/GL Entry Reporting Take Trip Payment Book Trip Electronic Approval ExPManager Expense Reports Online Booking Reporting Services Employee Payment Flexible Reports Executive Dashboards Automatic Distribution Broad Inventory Embedded Policy Easy to Use Finance System Integrated Automatic GL Import Electronic Status Rapid, Electronic Reimbursement to Employee Paperless Manager Approval Including Receipts Corporate Card Pre-population and eReceipts Automated Travel and Expense Management Solution

  9. Top Airline Vendor Spend

  10. Top Exception Violators

  11. Best Practices For Automating The T&E Process • Create a T&E policy then build rules in the solution • Generate regular reports to show T&E spend • Integrate with financial system (mapping) • Leverage reports to negotiate vendor discounts • Integrate travel booking and expense reporting

  12. Best Practices Integrating Travel and Expense Processes is an emerging best practice • Thwart out of policy expenses before they occur • Ensure use of preferred suppliers • Improve service levels to your employees

  13. Benefits of Automating T&E Process • Reduces cost • Decreases expense report processing time by 46% when done electronically1 • Reduces errors, eliminates re-keying • Improves compliance which lowers T&E Costs • Improves business processes • Allows online review and approvals, full audit trails • Improves reimbursement cycle to as little as 5 days • Integrates with the GL, provides automatic reimbursement to employees • The Gartner Group estimates a 5% reduction in operating costs is equal to a 30% increase in sales2 1”Travel & Expense Management…”, Aberdeen Group 2008 2 “Q&A for Travel Expense Management Software and Implementation”, The Gartner Group 2008

  14. Benefits of Automating T&E Process • Increases control • Greater control over T&E spend (18% increase in compliance1) • Comprehensive 360o reporting capabilities1 • Mitigates business risk • Reduces fraud (13.2% of fraud cases involve T&E reimbursementswith a median loss of $25,000 each instance)2 • Improves compliance (companies with external controls in place to manage SOX compliance have greatly reduced median losses – up to 89.1%)2 1 “T&E Lifecycle…”, Aberdeen Group 2008 2 “2008 Report to the Nation on Occupational Fraud and Abuse, Association of Certified Fraud Examiners, 2008

  15. To Learn More For more information about automated expense management solutions or how to improve other business processes, Call 1-866-228-9675 or visit adp.ca

  16. Strategic Approaches to Travel and Entertainment Expense Management

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