Cutting costs and doing more with less is imperative in times of crisis. One of the most important expense items in Spanish businesses is travel and lodging, only R&D salaries are higher.
In its total more than 13,000 million of euros, and in addition to the economic effort it reduces business and employee productivity.
Businesses do not take advantage of the savings that can be made by planning, booking and managing of business trips (Source: Cost Management Study by American Express and A.T. Kearney)
On average, businesses spend almost 5% of the total of their business trips for covering the indirect costs of the trips’ management. For every 1.000 euros spent on airplane tickets, lodging, meals and car rentals, 50 euros are for covering administrative costs.
The use of more efficient procedures reduces costs by 54%
In the present economic situation, where CEOs and financiers are looking for new ways of controlling cost and improve productivity, businesses have to look deeper into inefficiencies and administrative processes.
In order to generate savings, it is very important to identify indirect travel costs, expenses a company incurs every time an employee books a trip or receives a cash advance.