Expenditure management - prevention is better than cure
This old adage seems to be more appropriate now than ever before with the focus on various State-owned enterprises (SOEs) regarding alleged or apparent mismanagement of funds. With failing to adhere to financial budgets, financial limits being exceeded, wasteful expenditure in the area of Expense Management, one has to question the processes in place to prevent this from re-occurring, Tracey Shaw, Sales Director at Tra velUxion, tells SmartProcurement.
Posted by Editor at 5:50 AM | Comments (0)
Demand management and outsourcing of travel
Organisations that have travel driven by Procurement professionals have a much better ability to do demand management than other functions, most notably when travel is overseen by human resources, who are pretty weak in terms of demand management, says Christa Manning, director of Expert Insights research for American Express Business Travel Global Advisory Services.
Posted by Editor at 6:50 AM | Comments (0)
Do CPOs have a Duty of Care?
Buying and Procurement personnel comprise a significant chunk of annual international business commuters, which begs the question: are their respective organisations ensuring that they enjoy the same level of safety during their journeys as they do at the office?
Posted by Editor at 5:20 AM | Comments (0)
Cost vs. responsibility in travel management
Very few travel buyers or procurement specialists consider themselves to be ‘Risk Managers’. However, in the increasingly dangerous world of travel spend, this is exactly what they must become.
Posted by StaffWriter at 1:03 PM | Comments (0)
The 'silver bullet' in managing travel and entertainment expenses
Organisations that do not use an automated travel and entertainment (T&E) expense management service are falling behind in almost every measure of financial management.These organisations as ‘laggards’ and presents figures showing that they pay 37% more to process their expense reports; they take three times longer to reimburse employees; and they are essentially working in the dark when it comes to controlling travel expenditures accoring to a a 2008 report by researcher Aberdeen.
Posted by Editor at 11:31 AM | Comments (0)
Savings for Corporate Domestic Air Travel vs published prices on downward slide
Are travel management companies causing increased travel costs? One of the measures used for benchmarking Corporate Air travel is the average savings achieved against the published fares and, while organisations recognise that this savings methodology is not necessarily the best, it has been applied consistently and is useful to track savings over time.
Posted by StaffWriter at 8:58 AM | Comments (0)
Taming travel expenses? Boost your compliance!
Although travel expenses account for a significant - and rising - portion of a business’ s operating expenses, it remains one of the most difficult to manage or control.
This results in unnecessary costs, says Warren Tanner-Ellis, general manager, Travel Management Solutions at MWEB CommerceZone, a provider of hosted e-Procurement solutions and services. "These costs can amount to as much as 8% to 10% of total overhead expenses according to recent research undertaken by the Aberdeen Group*"
Posted by Bernie at 10:29 AM | Comments (0)
Air travel prices continuing down... But isn't the total cost going up?
This graph shows the index for the average SAA, BA Comair & Nationwide net economy return ticket prices (excluding taxes and VAT) for the Johannesburg – Cape Town route across a number of organizations from September 2002 to 2005. This index shows that net prices have been moving down despite the price of aviation fuel increasing dramatically (particularly in 2005). According to Alan Low, MD of Purchasing Index, new data from their research to be released within the next few weeks should confirm the trend. But...
Posted by Bernie at 7:52 PM | Comments (0)
