The Real Cost of Manual Expense Management

Contents

1. What manual processing already costs you
2. The risk you’re carrying and don’t see
3. What automation buys back
4. Proven, not promised

1. What manual processing already costs you

Figure	What it means
$150,000	lost a year to reconciliation corrections
$58	cost per manual expense report
19%	of manual reports contain errors
63.6%	of reporting errors trace back to manual data input
30–70%	of close time spent on manual reconciliation
39%	of UK SME finance teams still use spreadsheets

2. The risk you’re carrying and don’t see

Figure	What it means
$4.44M	average global cost of a data breach
5%	of annual revenue lost to occupational fraud globally
89%	of fraud cases are asset misappropriation
47%	of employees admit falsifying a mileage claim
$145,000	median fraud loss per incident
18–24 months	typical time for expense fraud to be detected

3. What automation buys back

Figure	What it means
46%	cut in data-entry cost per report
Up to 3 hours	saved per claim lifecycle
2.7–3 months	typical payback period for an automated platform
£5	of VAT recovered on every missing £30 receipt
92%	of spend managed through software at best-in-class enterprises
93%	of change management projects that meet or exceed objectives

4. Proven, not promised

Figure	What it means
1bn+	expenses processed
300,000+	active users
70+	countries served
99%	client retention rate

Sources are listed on the infographic. Want to put these numbers in front of your board? Read The business case for expense management automation, or work out your own savings with the ROI Calculator.

With Webexpenses, receipts are captured and checked against policy as they are submitted, so you spend less on processing, catch more before it is paid, and close faster.