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Understanding the average cost of business travel
Over the years, business expenses can add up quickly, especially for companies that rely on manual reports. A firm might want to use state-of-the-art tools to assist employees, but could struggle if it fails to recognize the value of its investments.
For example, recent data indicates that the average cost of domestic travel is $111.7 billion each year. Additionally, business travelers spend an average of $949 on airline costs, hotel fees, and other expenses during trips around the U.S. annually.
Meanwhile, for every dollar spent, companies commonly see a $2.90 profit increase and a $9.50 rise in revenue. The corporate world can make it tough for a business to establish itself, however, which is why Certify is a top solution for firms that want to control their travel costs for years to come.
Certify helps companies save both time and money, as firms are able to use the solution to track employee bills on the go. This software automatically creates expense reports, enabling workers to submit timely, accurate materials to their superiors quickly.
The current economic climate often forces businesses to make difficult decisions that may affect them for extended periods of time. If a company makes cuts in the wrong areas, though, it may put its reputation and profits at risk.
Starbucks is one of many businesses that has seen the effects of a challenging economy. The Southern, an Illinois publication, reports that the company recently raised its prices 1 percent, which could deter many consumers from buying from the business.
A company that depends on Certify, a state-of-the-art expense reporting solution, can cut travel expenses immediately. Down the line, this business may be able to avoid increasing prices for customers as well, as it can understand how to effectively control its operating expenses.
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