Concur (Nasdaq: CNQR), the leading provider of integrated travel and expense management services, announced the findings of a special research conducted by Nielsen on “Understanding the Corporate Travel Expense Management Practices in India”, a first of its kind research report in India. The research, which covers over 500 companies aims at revealing in-depth insights on current practices followed by Indian organizations in managing the travel expenses of its employees.
Traditionally, India is heavily dependent on processes which are manual, laborious in nature, time consuming and prone to errors. However, there is a need for change being realized by organizations to move to an automated process which is efficient, transparent and free of human errors.
According to Christopher Juneau, Senior Director - Marketing, Concur Technologies, “This special research report commissioned by Concur with Nielsen not only aims at understanding the traditional travel expense management processes in India, but also helps us to understand and deliver unique solutions for the Indian marketplace. This in turn enables our customers to drive greater efficiencies into their organizations and better manage their travel spending.”
He further added, “India holds a huge potential for Concur and this study confirms what we already knew. In the current volatile economic environment in India, it becomes increasingly important for companies to spend on their travel budget as smartly as possible. In my experience, delaying an airline ticket purchase by just 6 days due to approvals will result in significantly higher airfare purchases at a minimum of 10 percent.”
Concur’s research report was put together from a sample of 507 companies across Delhi/ NCR, Mumbai, Chennai, Bangalore, Hyderabad, Kolkata & Pune The report throws light on the time spent by companies in expense management, errors involved in using traditional expense management procedures and the need for an evolved travel expense management software.
Key findings from the research report include
• 66% of the organizations have an independent travel expense department, managed by a team of up to 10 employees (depends upon the employee strength) at the head/corporate office.
• All but 14% of the organizations have documented guidelines for travel expense process. Among those with documented guidelines, all of them do provide training to their employees on the same, however only half of them claimed that 76-100% of their employees adhere to the guidelines
• Of the claims submitted per month, accommodation, followed by flights & taxi/hired are the most included line items in a claim.
• Up to 5 working days or more than that is what 95% of the companies take to process all travel claims, however no supporting with claim is the most common error faced by the team handling travel expense
• Only 18% of the organizations use expense solution software.
• 70% of the organizations find travel expense automation which seamlessly manages travel approvals, with cash advance requests and expense claim approval relevant to their travel expense collating and processing needs
Concur has hundreds of clients in India today and working partnerships with American Express, ICICI Bank, Citibank, AirPlus, BCD Travel, FCM, Amadeus and many more. In April 2011 it made an investment of $40 million for a minority stake in Cleartrip, India’s leading online travel portal.
About Concur
Concur is a leading provider of integrated travel and expense management solutions. Concur’s easy-to-use Web-based and mobile solutions help companies and their employees control costs and save time. Concur Connect is the platform that enables the entire travel and expense ecosystem of customers, suppliers, and developers to access and extend Concur’s T&E cloud. Concur’s systems adapt to individual employee preferences and scale to meet the needs of companies from small to large. Learn more at http://www.concur.com/.
Sourced From: Corporate Voice Weber Shandwick
Traditionally, India is heavily dependent on processes which are manual, laborious in nature, time consuming and prone to errors. However, there is a need for change being realized by organizations to move to an automated process which is efficient, transparent and free of human errors.
According to Christopher Juneau, Senior Director - Marketing, Concur Technologies, “This special research report commissioned by Concur with Nielsen not only aims at understanding the traditional travel expense management processes in India, but also helps us to understand and deliver unique solutions for the Indian marketplace. This in turn enables our customers to drive greater efficiencies into their organizations and better manage their travel spending.”
He further added, “India holds a huge potential for Concur and this study confirms what we already knew. In the current volatile economic environment in India, it becomes increasingly important for companies to spend on their travel budget as smartly as possible. In my experience, delaying an airline ticket purchase by just 6 days due to approvals will result in significantly higher airfare purchases at a minimum of 10 percent.”
Concur’s research report was put together from a sample of 507 companies across Delhi/ NCR, Mumbai, Chennai, Bangalore, Hyderabad, Kolkata & Pune The report throws light on the time spent by companies in expense management, errors involved in using traditional expense management procedures and the need for an evolved travel expense management software.
Key findings from the research report include
• 66% of the organizations have an independent travel expense department, managed by a team of up to 10 employees (depends upon the employee strength) at the head/corporate office.
• All but 14% of the organizations have documented guidelines for travel expense process. Among those with documented guidelines, all of them do provide training to their employees on the same, however only half of them claimed that 76-100% of their employees adhere to the guidelines
• Of the claims submitted per month, accommodation, followed by flights & taxi/hired are the most included line items in a claim.
• Up to 5 working days or more than that is what 95% of the companies take to process all travel claims, however no supporting with claim is the most common error faced by the team handling travel expense
• Only 18% of the organizations use expense solution software.
• 70% of the organizations find travel expense automation which seamlessly manages travel approvals, with cash advance requests and expense claim approval relevant to their travel expense collating and processing needs
Concur has hundreds of clients in India today and working partnerships with American Express, ICICI Bank, Citibank, AirPlus, BCD Travel, FCM, Amadeus and many more. In April 2011 it made an investment of $40 million for a minority stake in Cleartrip, India’s leading online travel portal.
About Concur
Concur is a leading provider of integrated travel and expense management solutions. Concur’s easy-to-use Web-based and mobile solutions help companies and their employees control costs and save time. Concur Connect is the platform that enables the entire travel and expense ecosystem of customers, suppliers, and developers to access and extend Concur’s T&E cloud. Concur’s systems adapt to individual employee preferences and scale to meet the needs of companies from small to large. Learn more at http://www.concur.com/.
Sourced From: Corporate Voice Weber Shandwick
