an essenTIal fOUndaTIOn Of fUTURe gROwTh Employee business expenses represent a significant component of a company s cost structure. moreover, their management is a process that is still, in many cases, costly for companies and time-consuming for finance departments. Edenred is committed to becoming a benchmark in this emerging market.

12 % of annual issuE VoluME

at december 31, 2013

exPense ManagEMEnt

14 Edenred Inside . 2013-2014