WalkMe Survey Shows Half of Workers Don’t File Expense Reports, Leaving Billions of Dollars on the Table

Unreimbursed expenses creates job stress (48%) and financial tension during the holidays (28%); U.S. workers leave $2 billion behind annually

SAN FRANCISCO, Dec. 20, 2023 (GLOBE NEWSWIRE) — WalkMe Inc. (NASDAQ: WKME), a leading provider of digital adoption solutions, today announced new survey results that show half of workers (49.7%) around the world are not filing an expense report for money due back to them, leaving billions of dollars on the table. With employees leaving an average of $26.25* behind in unreimbursed expenses, 48% say that work expenses create job stress with another 28% claiming unreimbursed expenses are negatively impacting their financial situation this holiday season.

Reasons for not filing expense reports vary across regions and age; a vast majority (79%) of workers experienced challenges when filing work-related expenses, the top issue being time-consuming paperwork. Adding to the obstacles, one-third blamed their company’s cumbersome expense reimbursement process as a reason for not filing.

The findings come at a time when 63% of workers are unable to pay a $500 emergency expense, and employees lean on employers for additional options for support. Creating a frictionless experience for employees to reduce paperwork and time spent on expense reporting is a key part of the reimbursement process. While many may believe employees are the sole beneficiary of accurate and timely expense reporting, it is an imperative for employers for:

  1. Compliance: organizations have policies in place to ensure compliance with tax laws. and regulations, including keeping track of company spending. Proper expense reporting is part of these policies.
  2. Budgeting: expense reports provide valuable insight to make informed budget decisions.
  3. Accountability: reporting promotes transparency and accountability to ensure that employees –and the company –are spending money responsibly.
  4. Employee experience: companies must provide ideal means for employees to file accurate and timely expense reports to make the employee “whole,” thus driving positive employee experience.

“When expense reporting is so cumbersome or the process doesn’t feel worth the effort, employees will feel dissatisfaction with their jobs and more work stress, and that’s a problem for business,” said Chelsea Pyrzenski, Chief People Officer at WalkMe. “Enterprises can experience compliance and end-of-year fiscal reporting issues as a result of the expense reporting mess, which makes them vulnerable. It’s in everyone’s interest to ensure the process is very easy, efficient and seamless, to eliminate the time-wasting shuffling of receipts and the guesswork around software and policies. When used with leading expense management systems, Digital Adoption Platforms like WalkMe have proven to ease expense report frustration and radically improve both the employee and employer experience.”

Other stats of note:

  • 32% of workers are still submitting paper receipts to finance
  • Germany claims the most stress from work expenses at 55.7%
  • Respondents in the 35-44-year-old age group were most likely to leave money on the table (58%), while the majority (63%) of those 55+ always filed an expense report for money due back to them
  • The U.S. leaves the most money on the table at an average of $31.04** while Singapore leaves the least with $20.35**
  • 18-35-year-olds were most likely (31.6%) to have unreimbursed expenses negatively impact their financial situation during the 2023 holiday season, more than twice as likely as 55+ (15.2%)
  • Australia is the most forgetful about filing expense reports (45.2%), 7% more than the next most forgetful region, U.K.
  • 59% agreed or strongly agreed that AI and productivity tools have made expensing easier

About the Survey
Conducted in November 2023 in the U.S., U.K., Germany, Singapore, and Australia, the multinational survey polled more than 2,400 workers across a wide array of industries and working ages. The research, conducted by Propeller Insights and sponsored by WalkMe, surveyed those who incur reimbursable work-related expenses as part of their job and all worked full-time with three-quarters in a self-identified managerial or supervisory role. Access the report here and infographic/summary here.

About WalkMe
WalkMe’s cloud-based digital adoption platform enables organizations to measure, drive and act to ultimately accelerate their digital transformations and better realize the value of their software investments. Our platform leverages proprietary technology to provide visibility to an organization’s Chief Information Officer and business leaders, while improving user experience, productivity and efficiency for employees and customers. Alongside walkthroughs and third-party integration capabilities, our platform can be customized to fit an organization’s needs.

*Calculated by multiplying the total number of respondents by one of eight monetary amounts, adding the total monetary amount then dividing by the total number of respondents (#28 in report).

**Calculated by multiplying the total number of respondents in each country by one of eight monetary amounts, adding the total monetary amount, then dividing by the number of respondents in each country (#28 in report).

$2B total calculated by taking the U.S.’s average left behind, $31.06, and multiplying it by the estimated number of white collar workers in the U.S. according to the Department for Professional Employees (64M).

Special Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. 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Media Contact:
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Investor Contact:
John Streppa

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