Chrome River Survey Shows Australians Lagging in Corporate Sharing Economy Policy Adoption

Fewer companies have adopted ride-sharing and shared accommodation policies, and many have outdated travel and expense policies

SYDNEY--()--Only 54 percent of Australian companies have addressed ride-sharing in their corporate expense policies, and just 46 percent have addressed shared accommodation services, according to a survey of business travel and corporate finance professionals conducted by Chrome River, a global leader in expense and invoice management solutions.

“A key focus of Chrome River is helping our customers to adopt best practices in expense management, as an up-to-date, fair, and well-communicated expense policy is critical for businesses to help their travellers have the best experience on the road, while maintaining effective control of costs”

Of those companies who had adopted a policy regarding ride-sharing services (such as Uber), 90 percent said that their policy allows the use of these services, with 10 percent saying that the use of ride-sharing is mandated within their organisation. Only 10 percent of companies with policies covering ride-sharing specifically prohibited the service.

Among the respondents whose companies have adopted a policy towards shared accommodation services (such as Airbnb), 67 percent allow their employees to use these services, and while no companies mandate their use, a third of those who address it in their policy specifically prohibit their use.

The survey also found that many Australian businesses have not recently updated their corporate travel and expense policy. Only 53 percent of companies have updated their policy within the past two years, while 14 percent have left their policy unchanged for more than four years.

In a similar survey conducted in the United States in 2017, 78 percent of businesses had established a ride-sharing policy, and 76 percent had adopted a policy for the use of shared accommodation services. Among that group, 17 percent do not allow their employees to use ride-sharing services, and 24 percent block employees from staying in shared accommodation. Thirteen percent of companies overall mandate the use of ride-sharing for their employees, with slightly fewer (12 percent) for shared accommodation.

“A key focus of Chrome River is helping our customers to adopt best practices in expense management, as an up-to-date, fair, and well-communicated expense policy is critical for businesses to help their travellers have the best experience on the road, while maintaining effective control of costs,” said Sarah Dart, director of sales, APAC, at Chrome River. “With the rapid pace of change in the business travel industry, companies need to ensure that their policies can keep up with innovation. If not, this can lead to confusion among travellers, as well as missing out on the potential to contain costs more effectively. While Australian companies are certainly starting to adopt these new services, it’s evident that many of them still have a way to go. This clearly highlights the benefit of a regular review of travel and expense policies.”

   

What is your organisation’s travel policy for ride-sharing services? (e.g. Uber)

 
We don't have any policy on the use of these services 36.7%
Our policy does not allow our travellers to use these services 4.1%
Our policy allows our travellers to use these services, but does not mandate it 34.7%
Our policy mandates that our travellers use these services 4.1%
I don't know if our policy addresses shared economy services 12.2%
We don’t have an expense policy 8.2%
 

What is your organisation’s travel policy for shared accommodation services? (e.g. Airbnb)

 

 
We don't have any policy on the use of these services 42.9%
Our policy does not allow our travellers to use these services 12.2%
Our policy allows our travellers to use these services, but does not mandate it 24.5%

Our policy mandates that our travellers use these services

0%
I don't know if our policy addresses shared economy services 12.2%
We don’t have an expense policy 8.2%
 

When was the last time your organisation updated its employee expense policy?

 
Less than 1 year ago 30.6%
Between 1 and 2 years ago 22.4%
Between 2 and 3 years ago 22.4%
Between 3 and 4 years ago 2.0%
More than 4 years ago 13.9%
We don’t have an employee expense policy 8.2%
 

About Chrome River

Chrome River Technologies, Inc. lets business flow for some of the world’s largest and most-respected global organisations. Our powerful, yet easy-to-use SaaS expense management and invoice automation solutions deliver the most modern global and mobile experience in the marketplace. Our highly-configurable business rules engine supports your evolving compliance and reporting requirements in today's ever-changing business climate. Chrome River is rated as a Leader in expense management by analyst firm IDC, and is loved by CFOs, CIOs, AP teams, travel managers and business travellers alike.

To find out why Chrome River is trusted by more than 2 million users at more than 750 organisations worldwide, contact us at +61 2 9331 6809, or visit us at www.chromeriver.com/au, or on FacebookTwitter and LinkedIn.

Contacts

Chrome River Technologies
Tim Wheatcroft, tim.wheatcroft@chromeriver.com

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