Here is what we know - Based on an article from the Wall Street Journal, 64% of companies with fewer than 100 employees record their expenses manually. Even when talking about companies with 1,000+ employees, a good amount (20%) use manual expense processes.
Mileage is often one of those expenses that are being recorded manually. It might seem like you are getting everything that you need from your manual mileage logs, but based on what we have seen as the expert in the industry, updating your expense and mileage technology can be a major benefit for your business.
Mileage is the only expense without a receipt and is one of the top five expenses for business travelers. It is also often one of the most inaccurate expenses; mileage logs can be inflated by as much as 20%.
Why is that, and what else do you need to know about mileage and other expenses?
About the Author
Mike has 20+ years of experience consulting, implementing and supporting professional solutions for Business vehicle reimbursement plans, Mobile Applications, and employee relocations. His long tenure at Runzheimer has made him a trusted expert both externally and internally.More Content by Mike Bassi