Taxi Expense Report

Key highlights of this report:

• Gap in Travel Policies

  The report points out a significant oversight in many organisations' travel policies. While most incorporate air, rail, and accommodation, taxis are often neglected, despite 80% of business travellers preferring taxis over public transport.

  This leads to employees booking their own taxi travel, often through local providers, which lacks proper tracking. This can expose organisations to potential financial losses from taxi expense fraud and raises concerns about meeting duty of care obligations.

• Expense fraud

  The data indicates that 55% of business travellers round up their expenses claim.

  Expense fraud encompasses a range of methods that employees may use to manipulate their claims, including exaggerating travel expenses, inaccurate receipts, and rounding up expenditure figures. Such actions can result in substantial setbacks for a company.

• Expense processing

  The report emphasises the burden that processing expense claims can place on organisations.

  The manual and time-consuming nature of the process, with 82% of respondents taking over 15 minutes to complete each claim and 60% of them taking up to 72 taxi trips per month, highlights the inefficiency. Additionally, the need for sign-off from multiple departments and the potential for errors, such as lacking proper receipts, contribute to the costliness of the process.