Trends in expenses — TripActions Community


Trends in expenses

Interesting article looking at data around how COVID-19 has affected expenses in the past few months. Obviously travel expenses have temporarily decreased, but...

"As companies closed their offices and began encouraging their employees to work from home, many employees needed to expense office supplies such as laptops, monitors, cables, and keyboards. The last week of March was the most significant spike in these expenses, particularly for the construction, information, and professional services industries."

Read more here: https://www.paymentsjournal.com/three-ways-the-covid-19-crisis-has-affected-corporate-travel-and-entertainment-expense-claims/

Comments

  • That looks like an interesting sign of digital transformation. I wonder to what extent that trend is going to influence company cultures and the travel cultures.

    Where I come from: many corporations may now have realized that you can work remotely. I wonder if this will mean more flexibility for employees mid-term. E.g. how this could influence a corporation's wellbeing strategy, a 'WFH policy', bleisure policy and even a 'work from anywhere' allowance. Of course with duty of care factored in.

  • csimoninicsimonini ✭✭

    Thanks @Kate Kirby - each business has their own policy and requirements, and even within a company, there will be spend thresholds to set for different teams. The lines could quickly blur on what is thought to be essential expenses and not approved, and as policies change quickly, communication to employees on what is possible also key. Now is not the time for surprises/

    How are people adjusting to processing these new expenses + WFH needs? seeing friction? Policy changes?

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