- Travel and entertainment (T&E) – second only to payroll as the largest business expense, accounts for 10% - 12% of the total annual budget.
- $186,000,000,000 is the estimated amount US companies will spend on travel and expenses in 2015.
- 59% of companies indicated 20% of expenses submitted are in violation of T&E policy.
- Top T&E pressure by 46% of companies: Reduce expense costs! Followed by increase visibility into spend and add more controls to T&E spend.
- Out-of-policy decisions involving a hotel staycost average of $232 per trip and $2,877 annually per traveler.
- Turnover costs are often estimated to be 100% - 300% of the base salary of replaced employee (business traveler).