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The Easier Expense Report

Travel expense reports are getting a little less expensive to produce.

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This story appears in the October 2006 issue of Entrepreneur. Subscribe »

When most companies focus on controlling travel costs, they target the trip itself: the airline ticket, hotel room, rental car and restaurant tab. But costs are lurking on the back end, too, when travelers return and have to account for their spending.

On top of being time-consuming and error-prone, the expense report process is surprisingly pricey. Factoring in the involvement of the traveler, approver, auditor and accounting personnel, the average manual expense report takes about 57 minutes and costs approximately $48, according to industry estimates.

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