Despite being 10th largest and fastest growing business travel market in the world, there are no India specific benchmark study to understand how Indian corporates are strategizing for T&E management in India. To understand the varied needs and unique challenges of the market place, Happay commissioned a ‘State of Indian Enterprise Travel & Expense Management’.

This exhaustive research study was undertaken by CFO India magazine, 200+ CFOs and finance heads across verticals have contributed to the findings of this report. 57% of the sample had revenues over Rs.1,000 Cr. and half of them were very large enterprises (Rs. 5,000 Cr. plus).

CFO benchmark study hope to serve as a thorough guide for the CFO – CHRO –CIO troika, it reveals the Expectations vs Reality of going digital on spend management. It also gives an insight on what's stopping Enterprises from automating employee reimbursements? From the employee view point, it probes on the process related problems of partial automation.

Half-baked Automation is an urgent
problem for CFOs

82% of companies are either partially or entirely lacking in making the whole T&E process automated despite it being the second-largest operational expense after payroll. About 50% of the CFOs have understood this urgent need and taken digitisation upon themselves, to switch to an automated expense management system in the next 6 months.

Losses due to fraudulent
claims

48% of companies do not have a system to detect frauds as T&E expenses are mapped manually. According to Happay’s benchmark report, nearly 55% of the companies stated their inability to retrieve past expense data as a key bottleneck in auditing and managing T&E expenses.

Manual processes are biggest challenge
for CFOs

Three-fourth of respondents in the study said, expense claims still had to be filed manually by attaching bills to paper vouchers. Quite surprisingly, despite the huge penetration of Mobile devices and desktops just 12% and 27% of companies allow employees to use these devices for recording travel claims.

Importance of T&E automation in respect
to GST is not understood

33% of the companies do not have GST compliant T&E solution and are unable to use any digital means to perform the calculations.

To know more about how you can make employees Happy and productive while maintaining control and compliance or to understand the degree of automation across companies, download a detailed report now!