Data from the travel and expenses company’s clients reveals that the number of submissions processed on this day is 139 per cent above the daily average. This influx is created by the last-minute rush before the Christmas break.
The reasons behind this rise include the surge in client and staff entertainment, and employees clearing a backlog of receipts that need to be reconciled before the end of the calendar year. Payroll cut-off points may also have an influence.
“As wallets feel the strain of the festive period, claiming expenses suddenly springs to the forefront of minds,” commented Isabel Montesdeoca, SVP and GM of EMEA at Concur. “Due to the volume, accountants often have a very tough job getting everything ready before the Christmas break.”