Last working week of 2014 sees 75,000 expense reports processed by accountants in the UK
London, United Kingdom, December 16th 2014: Concur, the global leader in integrated travel and expense management, has revealed that accountants in the UK process over 75,000 expense claims in the last working week before Christmas, based on data from 23,000 companies and 27 million users in 150 countries using Concur travel and expense management solutions. To make this busy period a little less stressful, Concur has dispatched a team of massage therapists to treat more than 100 accountants to a neck and shoulder massage throughout the week.
“We know it’s a critical time of year for employees to tackle the back-log of expenses and our data reveals that from the 15th December, accountants in the UK are processing an average of 15,000 expense reports per day. Employees want a little extra cash in their pockets for the holidays meaning accountants are under pressure to process reports quickly”, said David Vine, Concur. “We want to make what could be a really stressful period for these accountants, a little bit easier by treating more than 100 of our customers with free massages at their desks.”
“Knowing what lies ahead is the first step to streamlining expense processes,” said Vine. “While we now know when the busiest period for accountants is, we also know there are an increasing number of businesses taking advantage of mobile tools and services for expense reporting. For those who’ve replaced ineffective and manual methods with automated solutions, reports can be created and approved in time for the holidays meaning it can be a less stressful time for accountants.”
The latest analysis reveals additional key trends in expensing, especially how web and mobile technologies are shaping the way businesses manage expenses. News highlights include:
- Businesses are making big “digital” strides:
Businesses are increasingly adopting web and mobile technologies to manage their expenses. Last year, the daily averages for web-submitted and mobile-submitted expense reports hit a record-high. At its peak on during week commencing 15th December, overall submitted reports saw a 221 percent jump from the daily average since the previous year.
- Mobility is where the future is headed:
More time is currently spent on mobile apps than on the web. The shift toward mobile has given business users a preference for converting paper receipts into digital records. Photo capture is, by far, the Concur mobile app’s most popular feature.
- Most expensed items:
Accommodation and airfare were the most commonly expensed items on during the Busiest Expense Week 2013, accounting for more than $110 million. Meal and phone expenses rounded out the top four.
- Top expensing industries (via mobile):
Four business industries accounted for more than 37 percent of all mobile expenses submitted in 2013. These industries are:
- Healthcare – 10.8 percent
- Pharmaceutical –10.3 percent
- Retail – 8.8 percent
- Industrial Manufacturing – 7.7 percent