Generous business mileage reimbursement rates are a thing of the past, thanks to the IRS revamping the rates for 2016. The new, lowered mileage reimbursement rate for a business vehicle is 54 cents per mile, down a full 3.5 cents from last year’s 57.5 cents per mile. The new rate took effect Jan. 1. Although the mileage reimbursement has decreased by 3.5 cents, the average price of a gallon of gas has fallen from $3.50 a gallon in August of 2014 to $1.77 in February of 2016. That’s over a 50% decrease in the price of gas so even at 54 cents per mile you’ll get a good bang for your buck (or half buck).Business Travel
Although business travelers are largely embracing service options available through the sharing economy, not all companies are equally as keen on the concept. In fact, a recent survey found a notable percentage of businesses outright prohibit the use of non-traditional lodging services, and car rentals still beat out ridesharing services when it comes to ground transportation options.Business Travel
Wi-Fi has become such a necessity that 45 percent of business travelers who use it would actually be willing to go through the arduous security screening twice in exchange for a flight with a more reliable connection. Sixty-six percent of travelers were influenced by Wi-Fi options when choosing their flights, 22 percent have paid more for a flight just to get Wi-Fi, and 29 percent would give up their confirmed ticket for a standby on a flight with faster Wi-Fi.Business Travel
Ever imagine what a business trip would be like without your smartphone? Most of us would shudder at the thought. Business traveler and VentureBeat columnist John Koetsier actually lived through the experience. And he promises it wasn’t a very enjoyable one. To put it as bluntly as he did, the words he used were: “It sucks.”Business Travel
Mobile technology already has such an impact on business travel that most travelers say Wi-Fi is the most precious piece of mobile tech that aids in productivity while traveling. In fact, a majority of corporate travelers from many countries say it’s absolutely vital during every business trip.Business Travel
Even when business travel involves a fabulous location, a quick flight and a light schedule, it can still take a huge toll on your mind, body, emotions and spirit. Harvard Business Review contributor and CEO Peter Bregman found this out the hard way when it took him a full week to recover from one of his seemingly easy, two-day corporate jaunts.
As organizations continue to implement technology designed to streamline their Purchase-to-Pay (P2P) processes, a number of trends and concerns keep surfacing. Both were discussed in a recent webinar hosted by PayStream’s Henry Ijams and featuring Greg Horton of OpenText.Expense Management, Expense Analytics and Reporting
Your corporate travelers are the face of your company, representing you far and wide. But when you fail to reimburse them in a timely, fair and efficient manner, you could be paying a high price indeed.Expense Management, Expense Reports
When it comes to travel expenses, the big consideration is not necessarily about spending more or less – it’s about spending differently. But changing spending habits to ensure companies are efficiently meeting their goals may be easier said than done, according to a CFO Research and SAP study. The study collected info from 173 finance executives at midsize and large firms across Europe and North America.Expense Management, Business Travel
Innovative companies of all sizes and types are turning to Purchase-to-Pay (P2P) automation to enhance efficiency, reduce costs, and increase visibility and control of their spending. Once they decide on P2P as a solution, however, they still have to ascertain which specific tool from which specific provider will best suit their needs.Expense Reports
I just love the Chrome River application. I could probably sell it!
Can’t we just move year-end, so that we can roll out Chrome River sooner!?