A comprehensive and recommended report produced by Concur, the organization’s Concur Expense IQ Report, provides exclusive analysis of the T&E spend from more than 20 million Concur users worldwide. As Concur shared in a recent blog post summarizing key findings, looking at the report’s information and trends from 2012 can be used as a smart way to negotiate better deals, evaluate providers and efficiently measure and benchmark travel and expense patterns for the year ahead.
This view of overall industry trends is very important to organizations understanding their own travel expenditures and actions they can take in the coming year. As important and tangible is the ability for individual companies to understand the state of travel spending on at least a monthly basis. This can be important in understanding the state of one’s own business and taking timely action to address unknown trends. By analyzing expense reports monthly or more frequently, travel managers can understand the context of each expense report based on previous reports submitted by individual travelers as well as each expense report in the context of all other travelers.
This allows travel managers to understand who are the high cost travelers relative to other travelers on like for like travel, where are preferred suppliers not being used, what policies are routinely violated and should they be changed? This timely exploitation of travel data can help travel managers with a greater understanding of their travel spend so they can make decisions and take actions on a timely basis.