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Travel and entertainmentexpenses (T&E) can give your business a competitive advantage if used wisely and effectively. Although often costly, T&E expenses can help your team meet new people, close deals, and sync with important vendors. What expenses are included in T&E? Book a demo today.
But, here’s a bit of good news coming out of travel and expensemanagement company Concur: Businesses that have millennials in their workforces may actually save money — at least when it comes to business travel.
The data follows previous research from Sabre and the Global Business Travel Association (GBTA), released last year, which also emphasized the potential for mobile travel and entertainment (T&E) industry solutions to gain traction in a saturated market. According to that report, 78 percent of U.S.
According to new research published on Monday (June 6), business dining is one of the least managed areas of corporate expenses, representing about 10 percent of annual T&E spend for a corporation. Four out of 10 survey respondents said their companies spend at least $1 million on meals and entertainment a year. ”
“The latest Certify SpendSmart report shows how the business traveler is more in the driver’s seat than ever before when it comes to making purchasing decision on the road,” said Certify CEO Robert Neveu in a statement.
Cloud-based travel and expense report management solution Certify combined with three other corporate travel and expensemanagement companies earlier this year, with parent company K1 Investment Management incorporating Nexonia, ExpenseWatch and Tallie under the Certify name to step up competition with industry leader SAP Concur.
Bob Neveu , CEO of T&E firm Certify, tells PYMNTS what his predictions are for the T&E industry overall in 2017, as well as how these existing trends will continue to play out for businesses and their traveling employees. Here are two growing trends we can expect to see more of in 2017.
Initially, he said, travel to Cuba will be tourism-related as consumers entertain their curiosity about the country. . “It’ll be small-scale, just like everything in Cuba,” Seleski explained of the business he anticipates from card use in Cuba. .
"Business expenses are estimated to have dropped by more than 50 percent in the initial phase of the pandemic," he recently told PYMNTS, "but we are seeing a noticeable pickup in spending volumes as businesses adapt to the 'new normal' and business entertainment returns in smaller group formats.".
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