Payment & Expense
Annual travel and entertainment spending on corporate cards increased 20 percent in 2006
, according to an Aberdeen Group survey of 263 enterprises in four global regions. The survey, underwritten by Visa and the Association of Corporate Travel Executives, found that 70 percent of respondents implement card programs primarily for "enhanced visibility into spend." Meanwhile, "the number one priority for companies around the world for implementing purchasing card programs is reducing administrative costs for transaction processing," according to the findings. Many North American respondents also cited such objectives as systems integration and regulatory compliance.