How to Overcome Challenges in Travel and Expense Management?
How to Overcome Challenges in Travel and Expense Management?
Global expansion of a business significantly increases travel expenses for the company.
Increase in Travel and Expense Spending
As stated in a PayStream Advisors report on travel and expense management, 38% of companies spend more than $500,000 on travel and expenses, and 18% spend more than $5 million.
Managing travel and expense spending is a common challenge for organizations of all sizes. The Global Business Travel Association predicts a 3.8 percent increase in costs for 2017. This may put extra pressure on organizations that are already struggling with cost management.