KPI Benchmarks : T&E Voucher Error Rate
- Benchmark Range 1.7% - 6.5%
- Benchmark Average 3.6%
- Benchmark Sample Size (n) 23
* Is High or Low Best: Lower is Better
Download a Sample T&E Voucher Error Rate
KPI Details : T&E Voucher Error Rate
Travel and Entertainment (T&E) Voucher Error Rate measures the overall accuracy of employee expense voucher submissions. A high rate of inaccurate submissions can be traced to some common root causes: overcomplicated employee voucher templates or submission methods, unclear T&E expense policies and procedures, and a general lack of employee training in regards to T&E processes are typically the main culprits. Inaccurate submissions should be monitored to identify common issues and deal with repeat offenders (i.e., employees who consistently submit error-filled expense vouchers), as these inaccuracies negatively impact productivity and costs within internal expense management processes.
KPI Best Practices : T&E Voucher Error Rate
- Train employees on proper way to submit/fill-out expense vouchers
- Clearly define and enforce expense policies among employees
- Use pre-approvals for employee purchases to minimize errors and disputes
KPI Calculation Instructions T&E Voucher Error Rate?
Two numbers are used to calculate this KPI: (1) the number of travel and entertainment (T&E) report vouchers submitted by employees with one or more error(s), and (2) the total number of T&E vouchers submitted by employees for processing over the same period of time. Common T&E voucher errors include missing receipts or related expense documentation (e.g., plane tickets, etc.), incorrect charge codes, missing employee information, or improper formatting (i.e., format out of line with the company’s policies). Count vouchers submitted with more than one error only once in the numerator for this calculation. Do not include duplicate submissions in the denominator for this calculation.
KPI Formula :
(Number of T&E Vouchers Submitted with an Error / Total Number of T&E Vouchers Submitted) * 100