Predicting, controlling these costs is rarely easy

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Last Updated: July 24, 2014

1 minute engagement

Does your Accounting department struggle with T&E expenses?

If so, you’re not alone.

Travel & Entertainment is the No. 2 most frustrating business expenses companies deal with, based on a recent report from Forrester Research.

The top 3:

1. Maintenance (building) costs

2. T&E

3. Attorney fees

Here are four reasons why T&E can be such a hassle:

80% of companies enter data manually. That eats up time and can increase the risk of accounting errors.
Reporting can be haphazard and spread out across divisions, sister companies, etc.
There’s no ‘real-time’ view of T&E. Not surprising really: There are hot times for company travel, conferences, etc.
Most companies rely on spreadsheets for compiling data. Analyzing that data on a department- or company-wide basis isn’t effective.

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