New Concur Report Provides Unprecedented Insight into Corporate T&E Spend
Analysis of world’s most comprehensive set of travel and entertainment expense data reveals unique perspective on the second largest area of controllable spend
REDMOND, Wash., -- Concur (Nasdaq: CNQR), a leading provider of integrated travel and expense management services, today released a comprehensive report on corporate T&E spend, compiled from an extensive analysis of T&E expense data generated by its corporate clients. Armed with this data, travel managers and their organizations can gain a better understanding of global T&E spending trends to help gauge their programs and fine tune their policies.
“Concur is used by over 15 million business travelers – representing approximately 15,000 corporate clients around the globe – who generate over 50 million travel and expense transactions annually,” said Michael Hilton, EVP of worldwide marketing for Concur. “No other company has this kind of insight into corporate travel and T&E spending trends, giving Concur a unique position within our industry. By analyzing and sharing this data, we hope to provide insight to corporations, suppliers and business travelers alike, to help them make more informed decisions, create greater value and drive down costs.”
This initial report – compiled from a large representative sample of the largest corporate T&E database of its kind – ranks the top ten categories of T&E spend, the average cost per transaction for each of those categories, and a comparison of that spend year-over-year and quarter-over-quarter. Broken down globally and by U.S. spend, the analysis also includes a listing of the 25 most visited U.S. cities, with average spend by category.
Key initial findings include:
*The top three T&E categories – air, lodging and dining – comprised over 50% of total spend. Adding the next two categories – entertainment and ground transportation – brought that total to over 60%.
*Global air – the top category of T&E spend – is up 9.3% from a year ago and 2.3% quarter-over-quarter.
*Car rental spend was the only category down year-over-year, with the U.S. also showing a slight decrease in dining spend.
*New York is the most visited city as well as the most expensive city ranked by average nightly room rate and dining spend.
The report is available free of charge and can be downloaded at http://assets.concur.com/whitepaper/concur-travel-expense-report-q2-2011.pdf
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