BOSTON, MA--(Marketwire - March 16, 2010) - Business travel, for years, has often been
considered a "sunk cost" by enterprises around the globe. However, in the
midst of economic recovery, organizations are beginning to view their
expense management programs and processes in a more strategic light,
according to a
new research study published by Aberdeen, a
Harte-Hanks Company (
NYSE:
HHS).
"The State of Travel and Entertainment" research report, which gauged
the programs, processes, and performance of nearly 175 enterprises, found
that organizations perceive expense management to be a mid-level strategic
function that can drive moderate value to the overall enterprise. This is a
sharp, fresh view of thinking from the decades spent managing expenses as
an unavoidable cost of conducting business.
"T&E expenses account for nearly $24 million a year for the average
enterprise," said Christopher Dwyer, research analyst, Aberdeen. "With
enterprises reinstating travel budgets and conducting business on a global
scale, there is heightened organizational awareness to the benefits of
controlling spending on this category and managing the complexities of T&E
expenses in a strategic manner."
The new study found that over half (53%) of organizations currently place a
high priority on expense management in current economic conditions.
"The State of T&E Expense Management" also highlighted the performance
and strategies of performance-leading enterprises, that have achieved a 31%
higher rate of policy compliance than all other enterprises and have
generated an 80% reduction in expense-processing costs. These
top-performers are:
-- Nearly 50% more likely than all other enterprises to hold instantaneous
visibility into Travel and Entertainment (T&E) spending against budget
-- 43% more likely to regularly audit expense reports
-- 20% more likely to influence a formal sourcing program
A complimentary copy of this report is made available due in part by the
following underwriters: Concur, Coupa and Infor. To obtain a
complimentary copy of the report, visit:
http://www.aberdeen.com/link/sponsor.asp?spid=30410182&cid=6039&camp2
Visit
Research.Aberdeen.com for
additional access to complimentary
Global Supply Management Research.
About Aberdeen Group, a Harte-Hanks Company
Aberdeen provides fact-based research and market intelligence that delivers
demonstrable results. Having queried more than 30,000 companies in the
past two years, Aberdeen is positioned to educate users to action: driving
market awareness, creating demand, enabling sales, and delivering
meaningful return-on-investment analysis. As the trusted advisor to the
global technology markets, corporations turn to Aberdeen for insights that
drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in
context for the global direct and targeted marketing company. Aberdeen's
analytical and independent view of the "customer optimization" process of
Harte-Hanks (Information - Opportunity - Insight - Engagement -
Interaction) extends the client value and accentuates the strategic role
Harte-Hanks brings to the market. For additional information, visit
Aberdeen or call (617) 854-5200, or to
learn more about
Harte-Hanks,
call (800) 456-9748.
© 2010 Aberdeen Group, Inc., a Harte-Hanks Company
451 D Street, Suite 710
Boston, Massachusetts 02210-1928
Telephone: (617) 854-5200
Fax: (617) 723-7897
www.aberdeen.com