Concur: Finance Departments across the UK Brace for Busiest Expense Day

  Concur: Finance Departments across the UK Brace for Busiest Expense Day

      Expense report volume increases by 140 per cent on 19^th December

Business Wire

LONDON -- December 18, 2012

The 19^th of December is the busiest expense day for finance teams according
to data from Concur, a leading provider of integrated travel and expense
management solutions. Based on Concur’s industry-leading expense transaction
data – comprised of millions of expense reports – the volume of reports
submitted on 19^th December, 2011 was 140 per cent higher than the daily
average. As expense claim forms flood in, it’s the finance departments who
have to cope with the increased administration as they look to close out
year-end for most UK businesses.

A YouGov study revealed that, among UK workers who’ve ever claimed expenses in
the run up to Christmas, nearly a quarter (23 per cent) are motivated to do so
at this time of year to “close off loose ends before the end of the year”.
“Reclaiming money for the expensive Christmas period” and “needing to reclaim
the money for the long month ahead of the January pay cheque” were also cited
as other key reasons to get expense claims in, for nearly one in six people
respectively (15 per cent).

Isabel Montesdeoca, General Manager of Concur, EMEA comments: “Managing the
expense claim process manually is an incredibly challenging job particularly
at this time of year. However, companies that have invested in an automated
expense management system will certainly feel the benefits over Christmas as
the burden on the accounts department is lifted and employees are reimbursed
quickly ahead of the expensive festive break.”

Concur’s web and mobile-based integrated travel and expense management
solutions can accelerate the expense claim management process, while providing
finance teams with greater levels of visibility and control. It also ensures
that outstanding expenses from company employees are quickly reimbursed.
According to Aberdeen Group, the average processing days per expense claim for
highly-automated companies is three days versus 15 for semi-automated
organisations.^1

Clive Lewis, Head of Enterprise, Institute of Chartered Accountants in England
and Wales says many businesses have an end of December year end, and for
others it is an important financial reporting quarter day. “Businesses need to
keep on top of their costs so that financial reports can be produced as soon
as possible after the year/ period end. Automated expenses systems make the
process of claiming expenses much quicker for employees and give companies
up-to-date figures to work with,” says  Mr Lewis.

Jeanette Barrowcliffe, Finance Director of Meridian Business Support says
getting ready for year end and completing budgets for the following year makes
Christmas a busy period for finance teams. “Prior to Meridian investing in
automating its travel and expenses system, processing and paying expenses was
yet another task that finance had to fit into their busy schedule. Due to
being busy, staff would generally leave the claiming of expenses to the last
minute whilst, understandably, expecting payment prior to Christmas, which
created a very intense time for all.”

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ENDS

Notes to editor

All figures, unless otherwise stated, are from YouGov Plc. Total sample size
was 2,054 adults, of whom 1,229 were working part time or full time. Fieldwork
was undertaken between 4th - 6th December 2012. The survey was carried out
online. The figures have been weighted and are representative of all UK adults
(aged 18+).

About Concur

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 http://www.concur.com/en-uk 
or the Concur blog.

Meridian Business Support

Meridian Business Support specialises in seven recruitment markets -
commercial, construction, education, health, industrial, international and
on-site. The multi award winning recruitment specialist is the 11th largest
privately-owned recruitment and consultancy company in the UK. Founded in
1989, it now has 80 branch operations nationally and a turnover of more than
£110 million. For further information, please visit www.meridianbs.co.uk.

^1 E-Payables 2010, Aberdeen Group

Contact:

Weber Shandwick for Concur
Joe Walton or Holly Barnes
+44 (0)20 7067 0511 / +44 (0)207 067 0513
ConcurUKPR@webershandwick.com
 
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