Sweat the small stuff: What many firms miss with T&E
If you’re only focusing on hotel, airline and car rental costs when it comes to T&E, you’re missing out on some tremendous opportunities.
According to the National Business Travel Association, an astonishing 54% of a company’s T&E dollars go toward food, other ground transportation and myriad small expenses.
Chances are, a closer look at your employees’ expense reports will reveal an array of savings potential.
And changing some of your employees’ bad “on-the-road” habits may be easier than you think. For example, unless it’s clearly spelled out in a written document or policy — and reinforced by approvers — it can be quite a challenge to get everybody to use a certain airline.
But it’s easy to let staffers know that the $10 in-room entertainment charge for ordering “Transformers” won’t be reimbursed.
With over half of the charges stemming from smaller purchases, a closer look at expense reports is well worth the time and effort.
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