Just last month the Aberdeen Group published a new research benchmark, The State of T&E Expense Management, based on survey data collected from more than 175 enterprises. The 23-page report utilizes dozens of data points, nine figures and six different tables to show that top-performing organizations are:

• nearly 50% more likely to have real-time visibility into T&E spending against budget,
• 43% more likely to regularly audit expense reports, and
• 20% more likely to leverage a formal sourcing program.

Compelling data, right? It begs the obvious question – what can my company do to achieve best-in-class performance? Aberdeen outlines that as well:

1. automate the multiple facets of the expense management process
2. leverage T&E spend data to fuel future planning and sourcing efforts.
3. integrate expense management solutions with existing enterprise system

Most of you probably know by now that Coupa recently introduced expense management capabilities to its cloud spend management platform, giving companies one system through which to manage and control all non-payroll indirect spending. That means a single solution through which employees can requisition the goods or services they need to perform in their jobs, or file an expense report. One place for managers to review and approve requisitions and expense reports. One dashboard for executives to monitor for an accurate reflection of spending against budgets.

So how does Coupa’s new expense reporting and auditing capabilities stack up to Aberdeen’s recommended actions to achieve best-in-class T&E expense management performance?

In short, impressively! Stay tuned next week for a second post that outlines Coupa’s T&E expense management capabilities relative to Aberdeen’s best practices.

Until then, save yourself $399 and enjoy complimentary access to the full Aberdeen report, courtesy of Coupa. How’s that for smarter spending?