Corporate Travel and Expense Management (TEM) Insight Report

I. Introduction to T&E Software

In recent years, substantial developments in globalization, transportation, internet-based communication, and mobile technology have changed the requirements of businesses all over the world, further complicating the expense reporting and travel booking processes for business travelers. Therefore, traveling employees have a growing need for faster, more efficient, and simpler travel and expense (T&E) tools.

Travel and expense management (TEM) solutions automate the creation, submission, approval, and processing of expense reports, as well as providing travel booking support. Organizations of all sizes and industries turn to these automated systems to reduce processing costs and gain more control over T&E spend.

As a result, TEM solutions are the most widely adopted backoffice process technologies across all businesses today. By eliminating manual expense reporting and travel itinerary booking, organizations are increasing efficiency, cost savings, employee productivity, and their competitive edge within their markets.

This report is tailored for companies that have not yet adopted a TEM solution or may be hesitant to do so. With analysis of Levvel Research’s survey data and market research, this report identifies common pain points of manual methods and the potential benefits that can be achieved through automation. It explores current trends for both expense management and travel booking, details the features of leading TEM software, and provides strategies for accomplishing TEM goals.

II. Research Overview: Travel and Expense Management Today

TA fully automated travel and expense management process involves the use of technology throughout the T&E lifecycle, from the beginning of a business trip to the post-trip spend analytics stage. The following section explores trends in travel booking and expense management using data from Levvel Research’s 2018 TEM survey. This survey collected over 300 responses across organizations from many industries and market segments.

If you found this snippet interesting, you can access the complete 40-page report by simply filling out this form!