Expense Management Automation Offers Antidote to Down Economy, Aberdeen Finds; Web-based Applications Help Companies Track Every Precious Dollar

Business Wire, Dec 7, 2001

Business/Technology Editors

BOSTON--(BUSINESS WIRE)--Dec. 7, 2001

Aberdeen Group, a leading technology market analysis and positioning services firm, has released a new study of Expense Management Automation (EMA) technologies. These technologies help organizations scrutinize and control enterprise spending by automating the filing, approval, payment, and management of employee expenditures.

"As companies continue to cut back on all but the most necessary expenditures, they need to keep close tabs on every dollar being spent," says Christa Degnan, Aberdeen research analyst. "With, on average, 20 cents, of every operational dollar going toward Travel and Entertainment (T&E), the automation and control of employee-initiated expenses provide a significant opportunity to reduce costs, especially in today's economic climate."

The Aberdeen Executive Viewpoint, "Expense Management Automation Offers Antidote to Down Economy," outlines the need for EMA, calculates the market opportunity, describes the differentiating features among systems, and quantifies the benefits of online expense management. Specifically, Aberdeen research indicates that the use of EMA can provide the following results:

-- The average cost to process an expense report drops more than 80%;

-- The average time to enter an expense report shrinks more than 60%;

-- The average time to settle an expense claim declines more than 90%; and

-- Companies can pay 10% less for goods and services through increased contract compliance.

This Viewpoint was developed from Aberdeen's Supply Chain practice industry research, including interviews with all leading EMA vendors as well as select early adopters of EMA solutions. The paper, including a listing of top vendors, is available for free at www.aberdeen.com/ema or by phoning (800) 577-7891. It will be followed by extensive EMA end-user research in early 2002.

About Aberdeen

Aberdeen Group is a leading market analysis and positioning services firm that helps Information Technology vendors establish leadership in emerging markets. Steeped in technology and armed with end-user field research, Aberdeen answers clients' critical business and technology questions in the context of the Internet economy and across the product life cycle. Founded in 1988, Aberdeen is headquartered in Boston, MA, and has research divisions in Fort Collins, CO; Palo Alto, CA; and Amsterdam, the Netherlands. Aberdeen is accessible via the Web at www.aberdeen.com.