2023SPEND MANAGEMENTTRENDS REPORT
Emburse surveyed more than 500 finance professionals for insight into how organizations are applying spend management techniques ahead of a potential recession. Some are already streamlining the expense reporting process via electronic payments and reimbursements. Others still have a long way to go to achieve spend optimization.
Digital payments takeover
As organizations look for opportunities to reduce costs through budget cuts or improved employee productivity, digital payments prove more attractive than traditional, paper-based, methods.
#1 Most-valued feature: electronic payments
Which features of your current process offer the most value?
Lost receipts driving the migration toward digital payments
What are the biggest pain points related to your current expense management process?
Spend visibility at the forefront
By integrating spend data, finance teams can gain insights into business performance. Those same insights can determine the departments, functions, and policies where they should exercise cost reduction during a recession.
EXPENSES PROCESSING COST AWARENESS IS GROWING
How much does it cost to process an expense report? The percent of organizations responding “I don't know,” has dropped considerably.
35
2021
16
2022
Unmanaged spend decreases visibility
Over the next three years, which of your organization’s operating expense spending categories are expected to see growth?
Do your organization’s spend trends align?
Download Emburse’s 2023 Spend Management Trends Report and compare.
Download reportPolicy enforcement problems
Many organizations still rely on manual methods to manage and approve expenses, which opens the door to high rates of out-of-policy submissions.
Process and policy compliance needs polish
Which element of spend management does your organization need to improve most?
Managing employee expenses
35.52
Gathering data and insights into spend
20.44
Automating purchasing and accounts payable
13.49
Streamlining payments
9.52
Reducing fraud and out-of-policy spend
7.94
Managing travel costs
7.14
Managing corporate or purchasing cards
5.95
TOP PAIN POINTS OF EXPENSE MANAGEMENT PROCESSES
Companies of all sizes agree lost receipts is the biggest hurdle to their process. Several other pain points exemplify how policy enforcement continues to be a struggle across all segments.
Survey demographics
What is your organization’s annual revenue in the most recent 12-month reporting period?
Less than $1M
18.45
$1M - $49M
30.56
$50M - $99M
8.53
$100M - $249M
7.94
$250M - $499M
7.34
$500 - $999M
10.52
$1B - $4.99B
5.56
$5B or more
6.75
I don’t know
4.37
Where is your organization’s primary headquarters located?
North America
91.87
South America
5.36
Europe
1.98
Asia-Pacific
0.79
What is your role/level within the organization?
Manager
35.32
Executive
27.38
Director
18.65
Staff
4.56
Accountant
3.57
Vice President
3.17
Accounts Payable
3.17
Controller
2.98
Consultant
0.6
Other
0.6
What is your involvement in your organization’s expense, travel, and invoice spend?
I approve and submit expense reimbursements
35.91
I approve expense reports for my employees
27.98
I manage invoices and payments
24.4
I report on our finances
11.71
See all of 2023’s key spend management trends
Get your free copy of the 2023 report to see how you compare with 500+ finance professionals.
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