Benchmarks: Daily T&E Spend Now Averages $310 in Over 100 Cities

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Managing Accounts Payable

June 2006

One of the most valuable tasks AP departments can do is analyze spending. Travel and entertainment spending should be at the top of the list because it is the second most controllable expense a company has (next to payroll). For this reason, companies are now casting a wary eye at T&E spending, as well as updating their policies to make sure expense reports submitted by today’s busy travelers reflect fair and reasonable costs for hotels, car rentals, and meals.

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June 2006 Table of Contents [ toggle snippets ]

MAP June 2006 (full PDF issue)
Ioma‘s Advanced AP Institute: Four New Ideas to Kick Your AP Dept. Up a Notch—or More
NAPCP Conference: 10 Ways to Tighten Controls Over P-Card Spending
MAP Forecasts Trends & Benefits of AP Automation
Benchmarks: Daily T&E Spend Now Averages $310 in Over 100 Cities
MAP Calendar
News Briefs
Accounts Payable Managers’ Forum
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Four Ways to Advance Your AP Dept. in 2007
At our Advanced AP Institute in Dallas, AP pros presented a variety of great cutting-edge techniques they have used to bring their departments to a higher level in terms of operational effectiveness. After sifting through them all, we’ve identified four of the best new ideas that offer the most bang for the buck.
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10 Ways to Tighten Controls Over P-Card Spending
When you grow your p-card program, one of the concerns is control—how to keep the reins tight while encouraging more usage. This can be a delicate balance, but p-card pros recently swapped control tips at the annual conference of the National Association of Purchasing Card Professionals (NAPCP) in Orlando, Florida.
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MAP Forecasts Trends & Benefits of AP Automation
This editor recently participated in a panel discussion via Webcast entitled, "Streamlining Accounts Payable in the SAP-Enabled Enterprise," sponsored by Mobius Management Systems Inc., a supplier of integrated solutions for content and records management. What was conveyed to the audience was the big picture of what challenges AP is facing today and how automation can help meet those challenges.
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Benchmarks: Daily T&E Spend Now Averages $310 in Over 100 Cities
One of the most valuable tasks AP departments can do is analyze spending. Travel and entertainment spending should be at the top of the list because it is the second most controllable expense a company has (next to payroll). For this reason, companies are now casting a wary eye at T&E spending, as well as updating their policies to make sure expense reports submitted by today’s busy travelers reflect fair and reasonable costs for hotels, car rentals, and meals.
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Accounts Payable Calendar (0606)
AP CERTIFICATION TRAINING The IOMA/TAPN AP Seminar & Certification Exam: The Best Training Program Available for Accounts Payable Pros Denver, July 13 Minneapolis, Aug. 10 Boston, Sept. 19 Las Vegas, Oct. 15 Other dates and locations Go to www.ioma.com/certification/aptraining.html ORGANIZING & MANAGING ACCOUNTS PAYABLE, July 11, Ft. Lauderdale; July 27, Tacoma, WA; August 7, Rockford, IL; other dates and locations. Contact: National Seminars Group, 800-258-7246; www.natsem.com. …
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News Briefs (0606)
WHEN TO PURGE INACTIVE VENDORS IOMA’s Master Vendor File Management Survey revealed a wide variety of criteria AP departments use for purging vendors due to inactivity—the intervals range from one year to seven years. The most common time period is two years (26%). Almost one in 10 of the companies polled indicated that they purge vendors with no activity after just one year. MAP recommends that vendors be purged only if their period of inactivity is…
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Accounts Payable Managers' Forum: Outsourcing Cures AP�s Telco Bill Woes
Problem: Flag Bank (Atlanta) was paying invoices totaling more than $890,000 for telecommunications-related services each year, and those expenditures continued to grow. A team of AP and IT employees came together each month to review the invoices, and the company also used traditional telecom invoice auditing services. But as the bills grew, so did their complexity—and the company lost its control grip on the telco services. "The best option was to get someone who knows the telecom business, who does it all day, every day," said Mike Phillips, senior vice president of Flag Bank.
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