BCD Travel released (07-Jun-2023) the following from a survey of 1349 business travellers on payment and expense in business travel:
- 79% of travellers use a corporate credit card for payment. Other payment methods include personal cards (26%), personal cash (12%) and direct company payments to travel suppliers through bank transfers or lodge cards (16%). Only 1% use a virtual card, even though 26% are familiar with the method;
- In terms of payment, staying within the reimbursement policy (29%) is the biggest pain point, followed by the need to pay for travel expenses out of their own pocket (20%) and the necessity to have cash in the local currency (20%);
- The most valuable expense tool features for business travellers are all related to process automation. These include travel receipts automatically attached to their expense reports (76%), credit card transactions automatically matched to their trip expenses (72%) and expense reports automatically pre-populated with trip data when booking their trip (67%). [more - original PR]