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Expense Reporting Strategies, Trends and Technologies for 2016
- 1. Expense Reporting Strategies, Trends and Technologies for 2016 Robert Neveu President & Co-Founder, Certify April 7, 2016 Sponsored by:
- 2. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 2 Webinar Features Should you experience any technical difficulty, please click the “Help” icon at the bottom of the console for audience support. Audio Broadcast: ► You should hear sound through your computer speakers or headphones ► To listen to the audio by telephone, click the “Request Call-in” icon on the bottom Panel for teleconference Asking Questions: ► Questions may be submitted using the Q&A icon on the left side of the console ► Questions will be addressed after the formal presentation Pop-up Blockers: ► Please temporarily disable your internet pop-up blockers Volume Slider
- 3. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 3 Join the Conversation #InsideTalk @IMA_News
- 4. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 4 • Download a PDF of the slides – Resources icon – Link in post-event email – IMA Webinar Library • IMA Members can also view this webinar again www.imanet.org/programs_events/imawebinars.aspx Visit IMA’s website: Webinar Materials and Access to Recording
- 5. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 5 • CMAs, CFMs & CPAs can report 1 hour of CMA and NASBA approved CPE for today’s event. • Click the “CPE” icon at the bottom of your console to access your Certificate of Completion. Please print or save for your records. • Your CPE credit will be automatically recorded in your transcript. CPE Credit Requirements
- 6. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 6 Featured Presenter Lisa Beaudoin, CMA, CAE Director of Educational Partnerships IMA
- 7. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 7 Learning Objectives Upon completing this webinar, you will be able to: 1. Review the annual T&E benchmark spending trends by expense category and company size 2. Identify the often “hidden” costs associated with expense- report processing 3. Recognize expense-management strategies used by small, midsize, and enterprise companies 4. Describe best practices and solutions to improve visibility, control, and accountability 5. Explain how automation delivers a full ROI for 92% of all companies in two years or less
- 8. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 8 Featured Presenter Robert Neveu President and Co-founder Certify
- 9. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 9 • Industry-leading, first fully automated travel and expense management system • 64 languages, 140+ currencies, clients in 80 countries • #1 highest rated expense management software for user satisfaction on G2 Crowd • PC Magazine Editors’ Choice for best expense management software of 2016 • Processing over 30 million expense transactions and $10+ billion in expense reports for 2015 About Certify
- 10. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 10 Business Technology Trends
- 11. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 11 Cloud Adoption is Growing Human ResourcesDocument Sharing AP & Invoicing Timekeeping Expense Management Reference: RightScale 2016 State of the Cloud Report 95%of U.S. Businesses
- 12. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 12 Driven by Process Inefficiencies +60%of companies report they are “drowning in spreadsheets” Reference: 2016 CFO Sentiment Study
- 13. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 13 A More Mobile Workforce +38% from 2015 $620b Global Mobile Payments Market Reference: TrendForce 2016
- 14. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 14 97%of business travelers carry at least one mobile device Mobile is Made for Travel Reference: Expedia/Egencia Mobile Index 2015
- 15. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 15 • Nearly 80% of business travelers used their smartphone to plan or book corporate travel in 20141 • 76% of travelers say their smartphones are “very important/critical” to daily life; 70% feel the same about their laptop1 • Companies using mobile expense apps reimburse employees 40% faster, reduce processing costs by up to 65%2 • More than 45% of “best in class” companies use mobile expense apps (89% spending under management, 91% compliance rate)2 Mobile Travel Trends Reference: 1. Expedia/Egencia Mobile Index 2015 2. Aberdeen Group 2014
- 16. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 16 T&E Spending Benchmarks
- 17. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 17 T&E Spending is Substantial $1.25tglobal business travel spending 2015 • Travel and entertainment spending by U.S. businesses projected to hit $310 billion in 2015 (GBTA estimate) • Controlling T&E costs is the #1 expense management pressure cited by 38% of companies (Aberdeen Group 2015) • T&E spending ranks as the 2nd most difficult operating expense category to control • (Forrester Research 2015)
- 18. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 18 25% of all U.S. companies spend +$1MM on T&E expenses annually (PayStream Advisors 2015) of total annual budget (Aberdeen Group) 8-12% Business Investment in T&E
- 19. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 19 1. Meals 19% 2. Airfare 17% 3. Misc. 17% 4. Lodging 14% 5. Gas 11% 6. Cell phone 5% 7. Car rental 5% 8. Groceries 5% 9. Supplies 5% 10. Taxi 3% 11. Shipping 2% 12. Tolls 1% 13. Parking 1% How the Expense Budget is Spent Reference: Certify SpendSmart Report, Q4 2015
- 20. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 20 Category 2014 2015 Difference Gas $40.41 $30.32 –24.96% Airfare $345.21 $274.00 –20.62% Lodging $213.90 $223.45 +4.64% Car Rental $193.58 $186.45 –3.68% Cell Phone $89.30 $92.24 +3.29% Meals $25.67 $26.06 +1.52% Parking $32.70 $32.23 –1.43% Taxi $31.81 $31.82 +0.03% Benchmark Spending by Category Reference: Certify SpendSmart Report, Q4 2015
- 21. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 21 Meal Category Average Expense 2015 GSA Per Diem Tier 1 Breakfast $12.33 $17 Lunch $21.56 $18 Dinner $25.06 $34 Total Per Day $58.95 $74* *includes $5 for incidental expenses Benchmark Spending for Meals Reference: Certify SpendSmart Report, Q4 2015 | gsa.gov/portal/content/101518
- 22. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 22 Expense Management Strategies
- 23. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 23 Respondents: 508 companies surveyed (non-Certify clients) Audience: • 24% Small business: less than 100 employees • 49% Mid-sized business: 101 – 999 employees • 27% Large business: 1,000+ employees Demographics: • 46% Director-level or above with expense reporting responsibility (CEO, CFO, etc.) • 45% Manager, controller or accountant • 9% Other (accounting staff, consultant, administrative, etc.) Fourth Annual Expense Management Trends Survey Conducted in December 2015 About the Data
- 24. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 24 Polling Question 1 a) Paper-based/spreadsheets b) ERP system (Oracle, Microsoft Dynamics, etc.) c) Web-based expense software (Certify, Concur, etc.) d) Not applicable How does your organization currently manage T&E spend?
- 25. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 25 Polling Question 1 Results (Placeholder)
- 26. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 26 Methods for Managing T&E Reporting 2013 2014 2015 2016 Cloud/web-based 36% 44% 37% 35% Excel spreadsheets 35% 29% 32% 37% Homegrown solution 7% 5% 7% 5% Pen and paper 10% 4% 4% 8% ERP 12% 18% 19% 15% The mix of expense management systems remains consistent: Reference: Certify Annual Travel & Expense Management Survey, 2013-2016
- 27. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 27 Web-based solution (Concur, IBM, etc.) Microsoft Excel/spreadsheets Pen and paper Homegrown solution ERP/accounting package (Oracle, SAP, etc.) T&E Systems by Company Size MANUAL SYSTEM USAGE: 70% small businesses | 26% enterprise 22% 55% 10% 5% 8% 37% 37% 9% 4% 13% 46% 16% 4% 6% 28% SMALL BUSINESS MID-SIZE BUSINESS ENTERPRISE Reference: Certify Annual Travel & Expense Management Survey, 2016
- 28. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 28 Expense Management Automation • Cost savings: reduce costs in time and materials required to process expense reports • Process efficiency: eliminate data entry and errors, improve administrative reporting • Increased productivity: mobile and cloud- based accessibility simplify expense management • Policy compliance: integrate company T&E policies and spending controls Why do best-in-class companies turn to automation?
- 29. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 29 Cost of Business Travel Average cost per business trip for air, hotel and car rental: Domestic Travel $1,002 International Travel $2,502 29 Reference: Travel Leaders Corporate 2015
- 30. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 30 Travel Booking Technologies 43% 22% 15% 20% 29% 15% 5% 51% A combination of above Travel management company Corporate travel agency Online travel sites Manual Web-based Reference: Certify Annual Travel & Expense Management Survey, 2016 30
- 31. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 31 Travel Booking Controls Pre-Trip Approval: Requires manager authorization prior to booking; configurable by employee, policy specifics, etc. Lowest Logical Fare: Automatically identifies best available rates for proposed itinerary (and only the best available rates)
- 32. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 32 Integrated Efficiencies Top web-based system integrations currently in use: 67% 61% 77% General ledger Accounts payable Credit card Reference: Certify Annual Travel & Expense Management Survey, 2016
- 33. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 33 Polling Question 2 a) We have no formal T&E policy b) Manual review process c) Automated system that flags violations d) Policy is not enforced How does your organization enforce compliance with T&E policies?
- 34. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 34 Polling Question 2 Results (Placeholder)
- 35. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 35 73% Corporate T&E Policy Compliance 85%of all companies report having a written T&E policy in place of those companies are manually reviewing for policy violations Manual policy review is inefficient, prone to error and fraud Reference: Certify Annual Travel & Expense Management Survey, 2016
- 36. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 36 6% 31% 42% 20% 26% T&E policy is not enforced Employee is responsible Manager manually review each expense Manager manually review, checking only high value expenses T&E system automatically flags out-of-policy violations Enforce T&E Policy Compliance 53% of companies on a web-based system Reference: Certify Annual Travel & Expense Management Survey, 2016
- 37. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 37 Driving Force Behind the Switch 25% 28% 32% 40% 66% Reimburse employees faster Improve employee compliance rates to corporate travel policies Gain reporting and analytics around T&E spend Provide expense system accessibly from anywhere (online, mobile) Simplify the expense reporting process for employees and managers Reference: Certify Annual Travel & Expense Management Survey, 2016
- 38. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 38 Leading frustrations for T&E program administrators: Top Expense Management Pain Points 50% employees losing receipts 45% employee’s failure to submit reports on time 38% time it takes to reconcile, review and approve 30% reviewing for policy violations 28% errors on the report Reference: Certify Annual Travel & Expense Management Survey, 2016
- 39. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 39 Key Areas of Improvement for 2016 Process improvements top the list: 9% 10% 11% 21% 37% Systems and data integration Mobility/mobile access Travel booking Transparency/visibility into reporting data Expense management process Reference: Certify Annual Travel & Expense Management Survey, 2016
- 40. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 40 Must-have Expense Reporting Features Automation: Expense report creation, workflow process and approvals, direct credit card feeds Mobile Applications: Smartphone-enabled receipt image capture, mobile report creation and approval, and policy tools Compliance: Duplicate receipts/expenses, category spending limits, automatic notification of violations Integration: Accounting software, general ledger, HRIS, CRM, ERP, ACH direct deposit Reporting: Complete visibility into process and spending by category, department, employee
- 41. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 41 Calculating Return on Investment
- 42. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 42 Polling Question 3 a) Under $7 per report b) $10−$20 per report c) $25 or more per report d) We do not track these costs What is the average cost to process a single expense report at your organization?
- 43. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 43 Polling Question 3 Results (Placeholder)
- 44. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 44 Average cost to process a single expense report: $6.85 fully automated $17.31 semi-automated $26.63 manual (PayStream Advisors 2015) Expense Reporting Costs Reference: Certify Annual Travel & Expense Management Survey, 2016
- 45. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 45 • Hard costs for paper, printing and postage • Hours to create, review and approve reports • Time required for reconciliation and reimbursement • Storage fees to archive expense reports • Lost productivity Hidden Costs of a Manual System Reducing processing costs is the #1 T&E improvement for 48% of all best-in-class companies (Aberdeen Group 2015)
- 46. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 46 How ROI is Achieved What are the ways you’ve achieved ROI on your new expense management system? 58% 53% 33% 26% 22% 22% Improved efficiency/expense reporting process Reduction in processing costs (less paper, postage, storage etc.) Mobile accessibility Increased employee productivity Elimination of payment for duplicate expenses Reduction in overhead/staffing requirements Reference: Certify Annual Travel & Expense Management Survey, 2016
- 47. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 47 Average Time to ROI is Improving 2015 Expense Trends Survey 2016 Expense Trends Survey Reference: Certify Annual Travel & Expense Management Survey, 2015-2016
- 48. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 48 Benefits of Investing in Automation Actual benefits of using a web-based system surpass expectation in every category: Reference: Certify Annual Travel & Expense Management Survey, 2016
- 49. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 49 Unexpected Results Web-based expense technology and data are leveraged for other finance functions: % companies reporting 44% 43% 39% 28% Annual budgeting and planning Auditing Invoicing and payments Regular forecasting (monthly, quarterly, etc.) Reference: Certify Annual Travel & Expense Management Survey, 2016
- 50. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 50 Unexpected Results Web-based expense technology and data are leveraged for other finance functions: % companies reporting 44% 43% 39% 28% Annual budgeting and planning Auditing Invoicing and payments Regular forecasting (monthly, quarterly, etc.) Reference: Certify Annual Travel & Expense Management Survey, 2016
- 51. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 51 Thank You
- 52. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 52 Polling Question 4 a) Under 25% b) About 50% c) Between 50-75% d) Greater than 75% What is the average rate of compliance to T&E policies at your company?
- 53. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 53 Polling Question 4 Results (Placeholder) Please position this slide within the slide deck, to indicate when you plan to review the group poll results for question #4. Upon arriving on this slide, the group poll results will automatically display for the audience, and you may then review the results and /or tie them into your presentation.
- 54. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 54 Questions & Answers Use the Q & A Panel to send your questions to our panelists. Robert Neveu President and Co-founder Certify Lisa Beaudoin, CMA, CAE Director of Educational Partnerships IMA
- 55. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 55 Thank You to Our Presenter! Robert Neveu President and Co-founder Certify
- 56. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 56 ► Complete the Evaluation poll • On your screen • Resources icon ► Access to your CPE Certificate – 2 Options • Click the “CPE” icon at the bottom of your console or • Click the link in your post-event email ► Please print a copy of the CPE certificate for your records. ► Your CPE credit will be automatically recorded in your transcript. Final Reminders
- 57. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 57 Next Inside Talk Webinar: • Revenue Recognition Rewind - What You Might have Missed Tuesday, April 12, 2016 1 p.m. Eastern Daylight Time www.imanet.org/programs_events/IMAWebinars.aspx For Upcoming Inside Talk Events: • Visit IMA’s website at www.imanet.org/programs_events/IMAWebinars.aspx • Log-in with your User Name & Password • Remember to check IMA’s Learning Spotlight for upcoming webinar events Notification of Future Webinar Schedules
- 58. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 58 58
- 59. © 2016 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. #InsideTalk 59 59
- 60. www.certify.com Thank You to Our Sponsor!
Notas del editor
- Margaret: Good afternoon and welcome to IMA’s Inside Talk Webinar Series. The title of today’s presentation is, “Expense Reporting Strategies, Trends and Technologies for 2016,” sponsored by Certify. I’m Margaret Loughery and I’ll be your host for today’s Inside Talk Webinar.
- Margaret: Before turning the presentation over to today’s moderator, I would like to quickly review some important information about today’s event. First, please temporarily disable your internet pop-up blockers in order to properly view the evaluation survey. We encourage you to submit questions to the presenter(s) at any time during today’s event by using the “Q & A” window at the left side of your screen. If you are unable to listen to the audio for today’s presentation through your computer speakers, please click the Request Cal-in icon from the bottom Panel for teleconference information. Finally, should you experience any technical difficulty, please click the “Help” icon at the bottom of your screen for ON24 technical support.
- Margaret: Join the conversation about this webinar on Twitter using hashtag InsideTalk. Click the Twitter icon on the bottom panel and you can tweet or follow the conversation.
- Margaret: If you wish to print the slides for today’s presentation you can do so in one of the following ways: You may select the Resources icon at the bottom of your screen You may use the link in your post-event email You may also visit the webinar library on IMA’s website Lastly, a recording of today’s webinar will be available in the webinar library on IMA’s website.
- Margaret: CMAs, CFMs and CPAs can report 1 hour of CMA and NASBA-approved CPE for today’s event if you: Have registered for this event And participate in the live webinar by responding to all group Monitoring Mechanisms during the webinar. The Group Monitoring Mechanisms will be in the form of poll questions for this event, and will remain open for approximately 30 seconds. You may begin responding to the questions as soon as they appear on your screen. In addition, your eligibility for CPE credit will be determined before the close of today’s presentation. Please complete the course evaluation, then click the “CPE” icon at the bottom of your console. If you have met the NASBA requirements, you will be able to download your CPE certificate immediately. You will also have access to your certificate through a link, which will be included in your post-event email. Please print or save the certificate for your records. Please note that the recordings of IMA webinars are not eligible for NASBA CPE credit.
- Margaret: It’s a pleasure to have Lisa Beaudoin as part of our program and she will be serving as moderator for today’s event. Lisa’s Bio: As Director of Educational Partnerships for IMA, Lisa works with companies and educational institutions to create awareness of the benefits of membership in a professional association, as well as the benefits of earning the Certified Management Accountant (CMA) credential. Lisa is a CMA and prior to joining IMA, she was the Accounting Department Chair at Cleary University in Ann Arbor, Michigan. Earlier in her career, Lisa held various accounting and finance positions at Ford Motor Company, Ford Credit, and IBM Corporation. It’s great to have you with us Lisa. Lisa: Thank you! I’m pleased to be a part of the Inside Talk webinar series and on behalf of IMA, I want to welcome everyone to today’s session.
- Lisa to review.
- Lisa: At this time I would like to introduce our featured presenter for today’s program. With us today we have Bob Neveu. Robert’s Bio: In 2008, Bob Neveu launched Certify as his second software startup in Portland, Oregon. Certify’s venture-backed team has accelerated the growth of the business to where Certify is considered the second largest provider in North America of expense reporting software, with multi-national customers including Pitney Bowes, Bristol Myers-Squibb, Subway Sandwiches, and Virgin Galactic. Certify has gained the attention of many major news publications for its innovative technology including its recent release of auto-generated expense reporting with Certify ReportExecutive, featured in the Wall Street Journal (September, 2013), New York Times (October, 2013) and CNNMoney (December, 2013). Please join me in welcoming Bob Neveu. Bob: Thank you. It’s great to be here and I’m pleased to be able to discuss this important topic with you and our members today.
- For an overview on Certify …
- Bob: I see that we have arrived at our first poll question, so I am going to turn your attention to our moderator. Lisa: Thank you. Attendees should see the first polling question now open on your screen. I would like to remind all participants that you will have about 30 seconds to respond to each of the polling questions today. You may begin responding to each question as soon it appears on your screen. Our first polling question is… “How does your organization currently manage T&E spend?” Paper-based/spreadsheets ERP system (Oracle, Microsoft Dynamics, etc.) Web-based expense software (Certify, Concur, etc.) Not applicable Please note that after selecting an answer, you must click the “Submit” button, which is located on the right side of your screen, just below the response options, in order to successfully record your answer. Now I’m going to turn the presentation back to Bob. Bob: Let’s take a look at the results. Bob clicks the yellow arrow to display the poll results.
- After discussing the poll results, Bob clicks the yellow arrow to continue with the presentation.
- Bob: I see that we have arrived at our second poll question, so I’m going to turn your attention to our moderator. Lisa: Thank you. As you know, you may begin responding to the poll questions immediately and you will have about 30 seconds to respond to each question. Our second question for today is, “How does your organization enforce compliance with T&E policies?” We have no formal T&E policy Manual review process Automated system that flags violations N/A After choosing an answer, please be sure to click the “Submit” button, located below the response options, so that we may record your answer. Now I’m going to turn the presentation back to our presenter. Bob: Let’s take a look at the results. Bob clicks the yellow arrow to display the poll results.
- After discussing the poll results, Bob clicks the yellow arrow to continue with the presentation.
- Bob: We have arrived our third poll question, so I’m going to turn your attention to our moderator. Lisa: Thank you. Attendees may respond to this poll question immediately, as I read through the question. Our third polling question for today is… “What is the average cost to process a single expense report at your organization?” Please choose from one of the following options, and then click the “Submit” button, located on the right, below the response options, to be sure that your answer is properly recorded: Under $7 per report $10−$20 per report $25 or more per report We do not track these costs Now I’m going to turn the presentation back over to our presenter. Bob: Lets take a look at the results. Bob clicks the yellow arrow to display the poll results.
- After discussing the poll results, Bob clicks the yellow arrow to continue with the presentation.
- Bob: We have arrived our final poll question, so I’m going to turn your attention to our moderator, Lisa. Lisa: Thank you. As with the previous questions, you may respond immediately, while I read the question and response options. Our fourth and final poll question for today is… “Question?” Please choose from one of the following options: Response option Response option Response option After selecting your answer, please remember to click the “Submit” button, to be sure that your answer is properly recorded. Now I’m going to turn your attention back over to our presenter. Bob: Let’s take a look at the results. Bob clicks the yellow arrow to display the poll results.
- After discussing the poll results, Bob clicks the yellow arrow to continue with the presentation.
- Lisa: Thank you Bob. I would like to begin addressing some of the questions from our audience members. Let me first remind participants to send us your questions and comments by typing them into the Q & A panel on the left side of your screen. Seeded Questions: Lost receipts are a big problem in my organization, too. How does an automated system help alleviate this? Is there a particular headcount, company size or number of expense reports per month where it makes sense to switch from a manual process to an automated system? Beyond the recent fluctuation in fuel prices, what other trends have you seen in T&E spending data over time? A high number of companies reported having a written policy in place, but what are the average compliance rates? Regarding implementation, how long does it typically take to get a new system like Certify up and running? Ok, we have time for one more question… (At approximately 1:57 p.m.) Lisa: I’m going to turn your attention back to our host, Margaret.
- Margaret: I’d like thank our presenter, Bob Neveu, for sharing his knowledge and expertise with us. We’re very appreciative that he has made time for IMA and our audience today. Also, thank you Lisa Beaudoin, for moderating today’s event.
- Margaret: As a last step, please be sure to complete the Evaluation survey, which should be visible on your screen. If it has not popped open, please click the Resources icon at the bottom of your screen for access. After completing the survey, if you have met the NASBA requirements for CPE credit, you will be able to access and print or save your Certificate of Completion today, using one of 2 methods. First, you may click the “CPE” icon at the bottom of your console before the webinar concludes. You may also click the link in your post-event thank you email, Please save or print a copy of the certificate for your records. Finally, your CPE credit will be automatically entered into your member transcript.
- Margaret: Please join us on Tuesday, April 12th for our next webinar, “Revenue Recognition Rewind - What You Might have Missed,” sponsored by Thomson Reuters. In addition, all upcoming webinars will be featured in IMA’s website. Please visit the website listed on your screen to learn more.
- Margaret: Would you like to earn the COSO Internal Control Certificate? Join us from April 18th -20th at IMA’s headquarters in Montvale, NJ for a live workshop. Learn from our Internal Control expert speakers, Dr. Sandra Richtermeyer, Dr. Paul Walker, and Jeff Thomson while earning up to 25.5 NASBA CPE credits. To learn more, and to register, please visit www.imanet.org/COSOcert. We hope to see you there!
- Margaret: Registration to attend IMA’s 97th Annual Conference and Exposition is now open! Please join us in Las Vegas, Nevada from June 18th though 22nd, and be inspired by our expert speakers to enhance your career. Network with accounting and finance professionals from around the world while earning up to 30 NASBA approved CPE credits. For more information please visit: http://www.imaconference.org/ _______________________________
- Margaret: I want to again thank Certify for presenting today’s webinar, and thank all of you for your participation in today’s event, your commitment to IMA and your professional development through IMA’s Inside Talk Webinar Series. I look forward to spending time with you again soon when we’ll enjoy some more Inside Talk.