|By PR Newswire||
|December 17, 2012 07:00 AM EST||
REDMOND, Wash., Dec. 17, 2012 /PRNewswire/ -- As many employees get ready for their holiday break, company accountants are bracing for one of the most chaotic and costly times of the year. Concur (NASDAQ: CNQR), a leading provider of integrated travel and expense management solutions, identified December 19th as the busiest day for submitting expense reports in the U.S last year*. For the vast majority of businesses that haven't yet automated the expense reporting process, this means a tidal wave of T&E reimbursement requests overwhelming manual and paper-based expense reporting process. It also has an impact on a company's cash-flow and underscores a huge cost disparity between manual and automated processes.
A recent report by Aberdeen Group found that it costs the average U.S. company approximately $18 to process each expense report. This same study found that the cost drops below $8 per report in "best-practice" companies that have automated the process. Based on these findings and internal data, Concur estimates that U.S. companies are wasting more than $2 billion annually as a result of these inefficient manual processes. Companies interested in addressing this issue can learn more here.
As the year comes to a close and the holidays approach, employees are eager to wrap up unfinished business and receive reimbursement for out of pocket expenses. While increases in client and staff entertainment spending contribute to the holiday season surge in expense claim activity, many employees also wait until the last minute to claim expenses for business trips taken earlier in the year.
The impact of this tremendous spike in activity on U.S. businesses includes lost productivity from employees filing and processing their reports manually along with an unanticipated surge of dollars flowing out of their businesses. While employees are rushing to file their expense reports, accountants and finance departments are under pressure to process the large transaction volume ahead of the holiday season in advance of year end. The result is an end-of-year spike in expense report volume that is almost as predictable as the winter solstice. Unfortunately, the many businesses that have yet to automate this process lack proper visibility into their T&E spend and could be caught unaware of the coming onslaught of requests from employees for reimbursement.
"We anticipate a high level of expense report activity in the December timeframe," said Scott Schitter corporate director, tax and financial compliance for the Catholic Healthcare partners. "With Concur, we no longer shuffle papers between approvers, and have insight into tracking and monitoring expenses because corporate card charges are directly imported into our expense reports for a more complete process. This enables us to streamline this busy season and get our employees their money much faster with less work."
"Whether it's closing out of a calendar year or a fiscal year, the last thing a finance department should be worrying about is shuffling paper and locating lost receipts," said Mike Hilton, executive vice president for Concur. "We process more expense reports that any other company in the world, so we are equipped to help minimize the impact to the business and ensure deadlines are met. Concur's cloud-based services help corporate clients streamline their entire travel and expense reporting process, while our mobile app helps their employees quickly and easily capture expenses and receipts and submit expense claims from anywhere."
Guidance for Surviving the Expense Report Dash
Together with Concur, savvy accounting teams are now providing a few tips to help alleviate the additional burden to the finance department during this busy time of year, including:
- Send out company-wide reminder emails to submit expenses on time.
- Provide Concur training videos or create a Webinar for how to submit and/or approve an expense report.
- Ensure the expense report is complete by making sure required receipts are included and adhering to policies– an incomplete expense report can create more review cycles and increase the time it takes for the submitter to be reimbursed.
- Leverage mobile technology to capture digital images of receipts and submit expense reports. Managers can also access expense reports in order to approve or reject right from their device. The advancements of mobile technology empower employees to capture pictures of receipts with a smartphone and attach them to expense reports. In addition, Concur sees more and more clients leverage the smartphone to submit expense reports (67 percent increase) and approve (53 percent growth) reports on the road.
* Based on Concur's expense report data from December 19, 2011
Concur is a leading provider of integrated travel and expense management solutions. Concur's easy-to-use Web-based and mobile solutions help companies and their employees control costs and save time. Concur Connect is the platform that enables the entire travel and expense ecosystem of customers, suppliers, and developers to access and extend Concur's T&E cloud. Concur's systems adapt to individual employee preferences and scale to meet the needs of companies from small to large. Learn more at www.concur.com or the Concur Blog.
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Apr. 25, 2015 02:00 PM EDT Reads: 2,480
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) application providers dating back to 2004. Cybozu's kintone.com is a leading global BYOA (Build Your O...
Apr. 25, 2015 02:00 PM EDT Reads: 1,521
While not quite mainstream yet, WebRTC is starting to gain ground with Carriers, Enterprises and Independent Software Vendors (ISV’s) alike. WebRTC makes it easy for developers to add audio and video communications into their applications by using Web browsers as their platform. But like any market, every customer engagement has unique requirements, as well as constraints. And of course, one size does not fit all. In her session at WebRTC Summit, Dr. Natasha Tamaskar, Vice President, Head of Cloud and Mobile Strategy at GENBAND, will explore what is needed to take a real time communications ...
Apr. 25, 2015 02:00 PM EDT Reads: 1,761
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
Apr. 25, 2015 01:00 PM EDT Reads: 2,704
SYS-CON Events announced today that BroadSoft, the leading global provider of Unified Communications and Collaboration (UCC) services to operators worldwide, has been named “Gold Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BroadSoft is the leading provider of software and services that enable mobile, fixed-line and cable service providers to offer Unified Communications over their Internet Protocol networks. The Company’s core communications platform enables the delivery of a range of enterprise and consumer calling...
Apr. 25, 2015 12:30 PM EDT Reads: 2,508
So I guess we’ve officially entered a new era of lean and mean. I say this with the announcement of Ubuntu Snappy Core, “designed for lightweight cloud container hosts running Docker and for smart devices,” according to Canonical. “Snappy Ubuntu Core is the smallest Ubuntu available, designed for security and efficiency in devices or on the cloud.” This first version of Snappy Ubuntu Core features secure app containment and Docker 1.6 (1.5 in main release), is available on public clouds, and for ARM and x86 devices on several IoT boards. It’s a Trend! This announcement comes just as...
Apr. 25, 2015 12:00 PM EDT Reads: 1,373
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to offer disruptive APIs to developers.
Apr. 25, 2015 12:00 PM EDT Reads: 1,818
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquired by Aditi Technologies. He is a Microsoft Regional Director for Hyderabad, India, and one of the f...
Apr. 25, 2015 12:00 PM EDT Reads: 1,639
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
Apr. 25, 2015 12:00 PM EDT Reads: 2,294
SYS-CON Media announced today that @ThingsExpo Blog launched with 7,788 original stories. @ThingsExpo Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @ThingsExpo Blog can be bookmarked. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago.
Apr. 25, 2015 11:00 AM EDT Reads: 2,514
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on Twitter at @MicroservicesE
Apr. 25, 2015 11:00 AM EDT Reads: 2,075
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Apr. 25, 2015 11:00 AM EDT Reads: 2,080
Wearable technology was dominant at this year’s International Consumer Electronics Show (CES) , and MWC was no exception to this trend. New versions of favorites, such as the Samsung Gear (three new products were released: the Gear 2, the Gear 2 Neo and the Gear Fit), shared the limelight with new wearables like Pebble Time Steel (the new premium version of the company’s previously released smartwatch) and the LG Watch Urbane. The most dramatic difference at MWC was an emphasis on presenting wearables as fashion accessories and moving away from the original clunky technology associated with t...
Apr. 25, 2015 11:00 AM EDT Reads: 2,071
SYS-CON Events announced today that Litmus Automation will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Litmus Automation’s vision is to provide a solution for companies that are in a rush to embrace the disruptive Internet of Things technology and leverage it for real business challenges. Litmus Automation simplifies the complexity of connected devices applications with Loop, a secure and scalable cloud platform.
Apr. 25, 2015 11:00 AM EDT Reads: 1,727
In 2015, 4.9 billion connected "things" will be in use. By 2020, Gartner forecasts this amount to be 25 billion, a 410 percent increase in just five years. How will businesses handle this rapid growth of data? Hadoop will continue to improve its technology to meet business demands, by enabling businesses to access/analyze data in real time, when and where they need it. Cloudera's Chief Technologist, Eli Collins, will discuss how Big Data is keeping up with today's data demands and how in the future, data and analytics will be pervasive, embedded into every workflow, application and infra...
Apr. 25, 2015 11:00 AM EDT Reads: 1,434
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, will provide some practical insights on what, how and why when implementing "software-defined" in the datacenter.
Apr. 25, 2015 11:00 AM EDT Reads: 1,607
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements around Unified Networks, Cloud Computing strategies, Virtualization around Software defined Data Ce...
Apr. 25, 2015 10:30 AM EDT Reads: 1,727
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
Apr. 25, 2015 10:15 AM EDT Reads: 2,991
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this case) takes into account the number and quality of contextual references that a user receives.
Apr. 25, 2015 10:00 AM EDT Reads: 1,999
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? Join this panel of experts as they peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you’ll have no problem filling in your buzzword bingo cards.
Apr. 25, 2015 10:00 AM EDT Reads: 2,201