Travel Content

Certify’s SpendSmart Report Sees Uber Slip, Lyft Gain — and Air Travel Be More Competitive Than Ever

travel

Uber and Lyft continue to capture an increasing share of employee travel and expense costs as measured by the Q1 2019 SpendSmart Report from Certify. In addition to continuing to decimate taxi services in all but a few protected markets, both services have continued to increase their prices since the first quarter of 2018, with Lyft experiencing double digit growth in some key markets.

Certify, Chrome River to Merge Their T&E, Invoice Management Prowess

Certify and Chrome River Technologies, two travel & expense providers who also offer invoice management software, will merge in a deal that’s valued at over $1 billion, a statement Tuesday said. It also realigns the market and makes the investor in the transaction an even bigger player in this sector, two Spend Matters' analysts said. Portland, Maine-based Certify and L.A.-based Chrome River initially will operate separately but will collaborate on investing in technology like artificial intelligence, machine learning, analytics and reporting, the announcement said.

Profiting from Digital Disruption: Certify’s T&E Report Shows 2018 Winners

sharing economy

Digital disruption remained a force in 2018 with brands such as Uber, Amazon and Lyft jockeying for position in the top 10 most-expensed vendors, according to Certify’s 2018 SpendSmart Year in Review Report on travel and expense filings. Companies and business travelers are increasingly choosing digital brands over traditional providers for everything from meals to office supplies to transportation, according to the Portland, Maine-based provider of spend management solutions. In compiling the Year in Review, Certify drew from more than 50 million expenses and $3.3 billion in expense transactions across its North American customer base.

Travel to China Means Assessing the Risks — Supply and Personal

Trade isn't the only contentious issue has with China these days. Travel to the country comes with an advisory statement that was reissued last week by the U.S. State Department. The warning doesn’t suggest that travelers not go to China, just that they be aware of the risks and “exercise increased caution.” So since plenty of procurement and supply chain professionals must travel to China to ensure smooth operations for their companies, let’s look at recent coverage of the issue from riskmethods and MetalMiner.

T&E Benchmarks: How Does Your Company’s Technology Compare on Handling Travel & Expense Reporting?

Oversight Systems

Companies in the U.S. spend hundreds of billions of dollars annually on travel and entertainment — and a study from Certify Inc., an expense report software company, surveyed executives and finance leaders to get a snapshot of how many still use manual methods versus how many have upgraded their T&E management technology. In the study, officials note that travel and entertainment costs can be a significant part of companies’ budgets, which means efficiently managing employees’ expense reports can greatly affect a company’s profits. Since 2013, the “Expense Management Trends Report: Annual T&E Outlook and Benchmarks” by Certify has worked to help companies of various sizes recognize best practices to consider in travel and entertainment reporting and as methods to benchmark such companies’ current processes against their peers.

To Digitize T&E and Invoice Management, Companies Must Improve IT-Finance Alignment

Oversight Systems

The digitalization of manual processes is viewed as increasingly vital across functions, and travel and expense (T&E) management is no exception. According to a Forrester report commissioned by SAP Concur, the majority of companies face challenges linked to manual processes, from errors in expense reports to the time-consuming nature of dealing with paper documents. Surveying 378 IT and finance professionals involved with T&E and invoice management at their companies, Forrester found that only 13% are very satisfied with the T&E and invoice management processes that their companies are using.

Who’s Adopting T&E Management Software, and Who Isn’t? Breaking It Down by Industry and Revenue

Oversight Systems

If expensing that hotel stay or work lunch requires you to keep paper receipts, you are in good company. According to a report from PayStream Advisors, more than a third of employees file expenses either by mailing paper receipts to their AP department or through a combination of scanned receipts and spreadsheets. Nearly two-thirds, however, report that their organizations use a dedicated expense software tool. And as companies move along in their digital transformations, the trend in travel and expense (T&E) management is certainly away from manual systems.

Coupa Opens New Middle-Market Front with P2P, T&E Packages on AWS Marketplace

BuyerQuest

Coupa is more aggressively targeting small and medium-sized businesses, using Amazon’s reach and infrastructure to sell its spend management solutions directly online. The San Mateo, California-based provider announced Monday its procure-to-pay (P2P) and expense management (T&E) solutions are now available on AWS Marketplace. Prospective users can now purchase, migrate and begin using Coupa’s spend management solutions directly from Amazon Web Services’ online software store, provided their company fits several criteria.

What Does The Age of Digitalization Mean for the Travel Services Buyer?

services sector

The role of today’s corporate travel manager or category manager is more demanding than ever. The manager must not only take responsibility for the travel budget, be a skilled negotiator, understand technology, leverage data and manage travel policies, contracts and compliance, but also deliver value to the organization. And of course, they must also keep the corporate traveller safe and be risk-aware. How can practitioners prepare to handle all of this and more?

Certify T&E Report: Business Travelers Go for Starbucks, Delta and Uber (But Lyft is Catching Up)

Oversight Systems

Travel and expenses management software provider Certify recently released its latest SpendSmart Report, analyzing business travel spending for Q3 2017. Lyft is experiencing impressive growth, while its ride-hailing rival Uber, as well as taxis and car rentals, are seeing declines. The data comes from 10 million business travel receipts and expenses that are processed via Certify’s system. Certify then analyzes the data by category, such as ground transportation, meals and lodging.

Easing the Pain of Hotel Booking and Travel Spend Management

services sector

Spend Matters welcomes this guest post by Julian Kulkarni, vice president of marketing at Roomex.

The lodging offered by your preferred supplier is 20% cheaper and you have never had any reason to doubt the quality of its service. But a senior sales executive insists that you book lodging at a swanky hotel that’s closer to a key account – otherwise the hot deal he is negotiating might be at risk. Trouble is, the more expensive hotel may not comply with your strict T&E policy. You just don’t know and you are having trouble getting answers. So, what do you do? It’s a classic procurement manager’s dilemma. You’d like to be flexible and make an exception, but if you are not careful, an exception can become the norm, and costs (both direct and indirect) spiral out of control.

Highlights from Across the Pond at Coupa Inspire 2017: A Fraud Detection Acquisition, Open Buy Launch and R19

Brexit

Coupa has acquired an AI fraud detection company and begun its official rollout of Open Buy with Amazon Business, our colleagues at Spend Matters UK/Europe reported from Coupa Inspire last week. The two announcements highlight Coupa’s recent push to integrate more advanced functionality into its spend management platform, from bringing sourcing optimization to a wider audience to enabling the elusive “guided buying” experience.