Certify webinar 10_8_seamless
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Transcript of Certify webinar 10_8_seamless
www.certify.com | @certify
Robert Neveu President & Co-founder
Presenters:
Nick WorswickVice President & General Manager, Corporate
In this role, Worswick is responsible for all sales, marketing, client management and product strategy for the Company’s corporate division. Worswick brings more than 15 years of experience to Seamless driving revenue growth, scaling business processes, strengthening client relationships and improving service delivery for Internet and SaaS-based technology businesses. With a passion for fostering the right internal dynamics and corporate culture, Worswick has helped companies provide exceptional service delivery and client satisfaction.
In 2008, Bob launched Certify.com as his second software startup in Portland. Certify’s venture backed team have accelerated the growth of the business and are considered the second largest provider in North America of expense reporting software. Certify was recently featured in the Wall Street Journal (Sept 16th) and and with multi-national customers including Pitney Bowes, Bristol Myers-Squibb, Subway Sandwiches, and Virgin Galactic, Certify will expand internationally in 2014.
www.certify.com | @certify
Top Business Traveler Spend Trends: How Your Employees are Spending the
Company’s Dime
A web event to learn the latest buying trends in business travel and to gain insight into how business professionals are spending the company’s dime, with research from Certify's
SpendSmart Report, based on receipts and expense data from over six million transactions and transaction-based data from Seamless.
Todays Topic:
www.certify.com | @certify
Current Travel & Entertainment Spend Trends
• The typical company will spend 10%-12% of its total annual budget on expenses related to travel and entertainment in 2013
• 53% of companies are using manual processes to manage their T&E spend and budgets
• 59% of companies top expense management pressure, lack of compliance to travel/expense policies
10% - 12%Budget on T&E
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Travel & Entertainment Processes Costing Companies
Those companies who have moved to the cloud for expense management experience:
• 60% lower expense-processing costs
• Improved compliance rates by over 35%-to-40%
• Shorter reimbursement times by 42%
www.certify.com | @certify
• The move to the cloud: one unified system, available from anywhere
• Tracking receipts and expenses on the road using mobile device
• Paperless processes, streamlining processes across the entire company
• Gain real-time insight into business buying trends and spend
The Big Shift: Business Professionals Moving to the Cloud
81% of organizations plan to make
the switch to an automated expense
system within the next 18 months
www.certify.com | @certify
About Certify
• Certify is an online travel & expense management platform
• Over 7 million transactions passed through Certify in 2012 from business professionals all over the U.S.
• All sized organizations from small business to fortune 500 companies
www.certify.com | @certify
The Average Cost of Business Travel
Industry data suggests that $445m business trips take place each year, creating a $251b industry
Source: http://www.gbta.org/foundation/pressreleases/Pages/rls_041012.aspx
On the average trip, companies spendDomestic International
per personper person
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How the T&E budget is being spent by business professionals:
Meals Flight Hotel
Misc. Gas Cell Phone
Rental Car Taxi Office Supplies
Shipping Tolls Parking
22% 16% 14%
13% 12% 6%
5% 3% 2%
2% 2% 1%
Source: Certify
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T&E Budget Spend from 2012 to Q3 of 20132012 Q3, 2013
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T&E Budget Spend from 2012 to Q3 of 20132012 Q3, 2013
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Average Amount Spent By Category:
Meals$25.25
Hotel$198.02
Shipping$49.79
Office Supplies
$69.32
Flights$334.27
Taxi$33.18
Rental Car$193.48
Phone $101.96
Gas$49.94
Parking$27.66
Source: Certify
www.certify.com | @certify
Source: Certify SpendSmart Report, Q3 2013
www.certify.com | @certify
www.certify.com | @certify
Most Expensed Vs. Top Rated Meal Vendors
Vs.
Most Expensed Top Rated
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Most Expensed by Meal Category
BreakfastAverage Spend
$14.49
Lunch Average Spend
$18.93
Dinner Average Spend
$24.63
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When traveling for business do you make vendor choices based on
quality or convenience?
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When traveling for business do you make vendor choices based on
quality or convenience?
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Top Rated Hotel
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Top Rated Airline
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Regional Highlights
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Regional Highlights
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Introduce Seamless
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Would you require an employee to repay a $0.50
overage on dinner?
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When traveling for business do you make vendor choices based on
quality or convenience?
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About Seamless
• Seamless is an online food ordering and billing service
• Our automated and consolidated approach significantly reduces the time, cost and hassle around employee meal expenses
• 4,000+ clients across the US and London
www.certify.com | @certify
Inefficiencies in the food ordering and billing process cause costs to skyrocket.
+30%1. Lack of insight into spend across the organization
2. The paperwork costs more than the food
3. Limited enforcement of rules and budgets
4. Absorption of billable costs
5. Time wasted managing food orders, doing
expense reports, leaving the office looking for food
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Companies save time, money and hassle by consolidating ordering and billing into a single account.
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60% of clients use budgets
30% use soft budgets, 70% hard budgets
75% of orders exceed budget (overage on personal CC)
40% of our clients that have multiple locations receive one invoice
Consolidation and automation provide greater insight and control.
www.certify.com | @certify
Average order value by industry.
Agencies
Accounting
Law Firm
Financial S
ervices
Producti
on
Technology
$0
$5
$10
$15
$20
$25
$30
LunchDinner
*Data based on Q3 Seamless corporate spending data.
Geography Lunch Dinner
Advertising/PR/Marketing $24 - $26 $21 - $23
Accounting/Consulting $25 - $27 $22 - $24
Law Firm $23 - $25 $26 - $28
Financial Services $15 - $17 $22 - $24
Ed/Gov/Non-Profit $16 - $18 ns
Production/Post-Production $19 - $21 $21 - $23
Retail $16 - $18 ns
Technology $14 - $16 $16 - $18
All Industries $15 - $17 $23 - $25
Seamless AOV on Certify = $27.48 (YTD) All Restaurants AOV on Certify =$25.52 (Q3)
www.certify.com | @certify
Average order value by geography.
Boston
Chicago DC
Houston
Los A
ngeles
New York
Philadelphia
San Francisco
$0
$5
$10
$15
$20
$25
$30
LunchDinner
*Data based on Q3 Seamless corporate spending data.
Seamless AOV on Certify = $27.48 (YTD) All Restaurants AOV on Certify =$25.52 (Q3)
Geography Lunch Dinner
Boston Metro $12 - $14 $22 - $24
Chicago Metro $11 - $13 $22 - $24
DC Metro $19 - $21 $24 - $26
LA Metro $12 - 14 $20 - $22
New York Metro $16 - $18 $23 - $25
Philadelphia Metro $14 - $16 $19 - $21
SF Metro $16 - $18 $24 - $26
All US Markets $15 - $17 $23 - $25
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When employees are ordering.
Agencies Accounting Law Firm Financial Services
Ed/Gov/NonProfit
Production Retail Technology0%
20%
40%
60%
80%
100%
DinnerLunch
55%
35%25%
55%
90%
55%
85%75%
40%
65%
70%45%
10%
45%
10% 25%
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7 pm. = 42%
8 pm. = 28%
9 pm. = 10%
80% of expensed dinners occur after 7 p.m.
*Data based on Q3 Seamless corporate spending data.
www.certify.com | @certify
Enforcing Food Ordering Rules &
Capturing Billing Details
The Challenge
• Employees ordering food submitted receipts and expense
reports, which were difficult to process
• Employees frequently exceeded budgets, with BMO
absorbing the overage
• Time restrictions around food ordering were unenforceable
• Incomplete expense reports prevented BMO from billing out
meals to clients, forcing them to incur undue costs
Ericka Clay
Accounting Analyst
BMO Capital Markets
250 Employees
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Enforcing Food Ordering Rules &
Capturing Billing Details
Ericka Clay
Accounting Analyst
BMO Capital Markets
250 Employees
The Solution: Online Food Ordering
• Budgets and rules create consistency across offices and
ensure adherence to policies
• Ability to put overages on personal credit cards enable
employees to order whatever they please
• Consolidated invoices reduce the number of expense
reports processed by more than 250 per month
• Total savings of more than $60,000
www.certify.com | @certify
So, what’s everyone ordering?
Los Angeles
San Francisco
Chicago Boston
New York
Philadelphia
Washington DC
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Q&A Session
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Thank youfor attending todays session.
For more information about Seamless visit,
www.seamless.com/business
For more information about Certify visit, www.certify.com