How much do Christmas parties really cost?

By Harry Allan

Christmas parties are a great way to reward employees for a year of hard work and dedication, but without properly-enforced expense policies, the business can risk losing control of costs.

Matt Goss, managing director, ANZ, Concur, said, “The cost of a Christmas party can be a major concern for businesses. The costs of the venue hire, food and drinks are often easier to manage, but once employees start expensing hotels and taxi fares, the costs can quickly spiral out of control.”

Businesses can better manage the costs of the Christmas party by tracking, in real time, all of the event expenses including food, drink, travel and accommodation.

Goss said, “An automated system that lets employees take photos of receipts and upload them into the system immediately means that they can easily process claims remotely. This also helps the business monitor spending accurately and flag when ineligible claims are made.”

It’s important that the business has an expenses policy, ensures employees understand it, and applies it consistently.  

Matt Goss said, “Automated systems mean that employees can’t spend outside of policy so they don’t need to worry about the consequences of every expense.”

Having an automated system also provides accuracy in expense management. When expenses are managed via spreadsheets or paper-based forms, mistakes are bound to be made, including duplications.

By contrast, organisations that implement automated, integrated, end-to-end travel and expense management systems can reap the benefits of time-savings, increased visibility, and better reporting.

Business Review Australia's December issue is now live. 

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