This measure calculates the number of days to approve and schedule travel and entertainment (T&E) reimbursements. T&E expenditures are the reimbursable expenses employees incur on behalf of the company (e.g., rental car, hotel, airfare, etc.). It is a Cycle Time measure that helps companies analyze the duration of the "process expense reimbursements" process from beginning to end.
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Cycle time in calendar days from the receipt of an expense report to its approval and scheduling for payment
Cycle time is the total time from the beginning of the process to the end. This includes both time spent actually performing the process and time spent waiting to move forward.
Travel and Entertainment (T&E)
T&E expenditures are the reimbursable expenses an employee incurs on behalf of the company (e.g., rental car, hotel, airfare).
The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.