SAP Concur article emphasizes the importance of automation and integration. Automation saves costs, but without integration with finance systems, efficiency is limited. SAP Concur offers pre-built connectors supporting various ERPs, automatically syncing data to reduce manual entry and errors.
SAP Concur states that according to the most recent global study on occupational fraud and abuse, the typical organization loses 5% of annual revenue to white-collar crimes. From 2018 to 2019, this included 2,504 fraud cases, 125 countries, $1.5 million average loss per case, and $3.6 billion total losses. ACFE President James D. Ratley says fraud rises during economic uncertainty. ACFE survey shows 55.4% of respondents said fraud levels increased in the past 12 months; nearly 60% of in-house CFEs reported layoffs, 35% of those companies eliminated some controls, and only 3.2% increased controls. SAP Concur recommends automated internal controls to supplement human oversight.
A SAP Concur blog post, citing the ACFE 2016 Global Fraud Study, notes that the median loss from occupational fraud is $150,000, 23.2% of cases cause losses of $1 million or more, and the typical organization loses 5% of annual revenue to fraud. It argues life sciences firms are especially vulnerable due to complex regulation and fragmented global spend data, and recommends corporate card auto-import, pre-approval, third-party audits and disciplined data entry to strengthen T&E controls.
SAP Concur published a blog post emphasizing that companies can better prepare for future disruptions by controlling spend. The article notes that travel and expense is typically a company's second-largest line item, but issues like leakage, hidden spend, and non-compliant spending exist. By improving spend visibility, companies can adapt more quickly to challenges and opportunities. The article also covers using AI and machine learning to monitor compliance, and solutions like mobile tools for automatic mileage tracking and receipt uploads.
SAP Concur celebrates its 25th anniversary, reflecting on its journey from solving expense reporting to offering a comprehensive spend management solution. Founded in 1993 by Rajeev Singh, Steve Singh, and Mike Hilton, the company now serves over 42,000 customers and has 7,500+ employees. Looking ahead, SAP Concur focuses on innovations like machine learning, AI, bots, and IoT.
SAP Concur blog cites an Oxford Economics report: 82% of businesses with 1,000 or fewer employees identified new gaps in cash flow management tools and finance processes due to COVID-19. 53% say the pace of digital transformation is speeding up. Among those who digitized invoice management, 43% saw increased organizational agility and resiliency, and 25% saw increased visibility into spending and reduced costs. The article recommends AP automation via solutions like Concur Invoice to gain real-time spend visibility, reduce manual errors, and optimize cash flow.
After an early adopter program with more than 40 clients, SAP Concur released user experience enhancements for Concur Invoice on April 13, 2019. To date, more than 200 clients have enabled the new interface. The update targets accounts payable users with a new Invoice Manager landing page that surfaces to-do tasks, plus modernized Unassigned Invoices and My Invoices screens. Users can toggle the enhancements on in Invoice Preferences; the changes become live for all Concur Invoice users after April 13.
SAP Concur announced TripLink admin controls, letting travel managers choose how integrated travel suppliers are presented and whether direct bookings are allowed or discouraged. It also announced Concur Tax Assurance by VATBox, Concur Detect by Oversight, and COVID-19 travel guidance in TripIt.
A SAP Concur blog post offers T&E reporting strategy advice for healthcare organizations, including assembling a cross-functional team, collecting departmental data needs, and designing dashboards and scorecards. It lists five reports: mileage monitoring, duplicate spend identification, credit card reconciliation, healthcare attendee spending and workflow aging. The post says 11% of T&E spend for SAP Concur healthcare customers was categorized as mileage in 2020, replacing airfare as the third-largest spend area. The attendee spending report helps ensure amounts stay within per-attendee limits and addresses Sunshine Act reporting requirements.
SAP Concur published a blog post explaining how integrating accounts payable (AP) processes with enterprise ERP systems addresses three primary issues: siloed information, disparate systems, and error-prone manual processes. Citing an IDC report, the article notes that technologies like cloud, machine learning, and advanced analytics are transforming AP management, and positions SAP as a leader in worldwide cloud and SaaS ERP AR and AP applications. The integration enables near real-time data synchronization between SAP Concur and SAP systems with no manual interaction, improving visibility, reducing risk, and enhancing compliance.
The article discusses risks of employee bookings outside managed travel programs and introduces tools like Concur TripLink to capture this spend, providing a unified view while enhancing employee experience and compliance.
A SAP Concur blog post states that business recovery requires accurate, real-time spending and budget data. A study found that 93% of global finance, IT, and operations executives agreed that maintaining organizational agility is the only way to navigate uncertainty, and 90% said a scalable, automated T&E management solution is key to controlling policy and protocol. The article emphasizes that digital and automated spend management can improve accuracy, control, and cost savings.
SAP Concur published an article recommending that businesses automate accounts payable invoice management to avoid cash-flow problems and achieve business growth. It cites a white paper by AMI-Partners in partnership with Concur, stating that automation tools enable businesses to save $1,100 for every 100 invoices and reduce invoice processing time by 16% a week. The article also uses baseball and toothpaste analogies to emphasize the importance of precisely understanding cash flow and controlling costs.
SAP Concur and Accenture experts discussed zero-based budgeting best practices in a podcast. Zero-based budgeting does not start from the previous year's budget but from scratch, making budget holders and employees think through what they need to spend to achieve business strategy. Experts noted that zero-based budgeting is not a cost-cutting measure but a way to allocate resources to business strategy. Companies can use technology systems to gain spend visibility and operational reporting to understand budget deviations, supporting long-term growth and profitability.
This SAP Concur blog post explores hidden costs in invoice processing. According to AIIM research, the average cost to process a single invoice is $12.90. A typical SMB processes 450 invoices per month with a duplication rate of 1.29%, and labor costs make up 62% of total AP costs. The article recommends reviewing AP systems, centralizing invoice submission, and adopting automation to reduce errors.
SAP Concur published a blog post discussing the financial risks and compliance issues of self-reported mileage reimbursement. The article notes that self-reported mileage relies on an honor system, making it prone to errors or exaggeration, which increases company costs and potential fraud. Without receipts, it is difficult to verify accuracy or ensure compliance with tax and regulatory requirements. The article recommends automated mileage tracking tools like Concur Drive to accurately capture distance and routes, reducing overstatement, improving audit readiness, and establishing a culture of compliance.
SAP Concur blog discusses fraud challenges during the pandemic, citing ACFE report: typical fraud lasts 14 months, costing $8,300 per month, and 5% of annual revenues lost to fraud. Recommendations include random audits, AI/ML use, and reviewing unusual spend.
A SAP Concur blog introduces its receipt digitization feature. Many countries have strict legal and tax requirements for digital receipt images, such as France requiring integrity and authenticity, and Spain requiring official certification. SAP Concur automates the process: after taking a photo of a paper receipt with ExpenseIt, back-end processes ensure the image is digitized and managed according to local legal standards, displaying a blue 'certified' icon and automatically adding it to the expense report workflow.
This SAP Concur blog post highlights the benefits of digital receipts for both businesses and the environment. It notes that most paper receipts are non-recyclable due to BPA or BPS coatings, and their production consumes millions of trees and billions of gallons of water annually. Adopting digital receipts simplifies receipt management, saves time and money, and improves employee satisfaction. SAP Concur offers tools to automatically integrate electronic receipts and digitize paper ones via mobile app photos. The article also mentions collaboration with the Japanese government to reform regulations and an e-receipt solution integrated with WeChat in China.
SAP Concur published an article advising CFOs to focus on employee spend management. Citing SAP customer data, it notes that many companies saw their expense category 'Other' grow by 58% from 2019 to 2020. The article recommends CFOs ask their teams three questions: whether the travel and expense solution easily connects to other financial systems, whether it makes compliance easy for employees and managers, and whether it tracks rogue spend. It also cites an EIU research report stating almost 75% of US respondents reported an increase in rogue spending by employees.
The article emphasizes the importance of recognizing accounts payable (AP) teams and offers various ways to show appreciation, such as providing automation tools, investing in career development, and offering leadership opportunities. Automating AP processes improves efficiency, reduces errors, and frees time for more valuable work.
SAP Concur blog states finance leaders can drive growth by providing real-time visibility, coaching on budgets, managing cash flow, and freeing finance staff. However, most finance departments still work manually, spending 60% to 70% of time gathering information. Without visibility and controls over discretionary spending like travel, expenses, and invoiced purchases, costs can spiral and fraud can occur. IT leaders can support intelligent finance by implementing automation that integrates travel, expense, and invoice management.
SAP Concur article notes that hybrid work accelerates digitalization needs, but manual processes and 'finance hacks' increase risk. 47% of finance and IT leaders agree remote work highlighted inefficient processes. Automated spend management reduces expense report time by 43%, increases policy compliance by 32%, reduces lost receipts by 43%, and reduces invoice processing time by 68%.
A SAP Concur blog post highlights the impact of the pandemic on SMBs and their resilience. According to an Aberdeen report, 24% of SMBs expect to remain in survival mode in 2021, 29% expect revenue growth, and 57% plan to resume business travel. SAP Concur's expense management solutions helped customers like CAF America and Genevant Sciences adapt to remote work. The article also mentions resources for SMBs, including free trials and partner integrations.
SAP Concur article outlines seven stages of business growth, from startup to international expansion, and references the Ansoff Matrix's four growth strategies. It emphasizes that manual processes become inefficient as businesses grow, and automated invoice management can help save money, improve efficiency, and support scaling.
A SAP Concur blog post notes that small businesses are actively adopting mobile business solutions due to their agility. An SMB Group report shows that 67% of SMBs agree that mobile solutions are changing how they work and collaborate, with top benefits including improved employee productivity, better access to information, and time savings. Mobility also expands the talent pool and attracts younger workers. The article cites Concur Expense and Concur Invoice as examples of mobile spend management enabling real-time tracking, approvals, and receipt capture, saving time and costs.
SAP Concur released its "The Robots Are Here" whitepaper exploring how AI and machine learning are applied to back-office business processes, including reviewing all expenses and invoices, detecting fraud, and automatically checking GST, HST, and VAT rules to find reclaim opportunities.
SAP Concur published a blog post summarizing a SAP Concur Fusion session on people-first travel programs. Experts from ServiceNow and Ernst & Young shared how business travel has changed post-pandemic, including assessing trip value, the evolving role of travel managers, sustainability, and flexibility. The article notes that 96% of employees are willing to travel, but safety, health, and flexibility are key considerations. 89% want travel policies to prioritize health and safety, and 20% would look for a different position if their company didn't accommodate that desire.
SAP Concur blog highlights that increasing employee-initiated spend channels complicate compliance and fraud risks. ACFE data shows asset misappropriation occurs in over 86% of occupational fraud cases with a median loss of $100,000, while financial statement fraud accounts for 10% of cases but a median loss of $954,000. Travel and expense is a major fraud area, with schemes including mileage padding, fake expenses, and unused airline tickets. Proactive data monitoring can reduce fraud losses by 33%.
SAP Concur case study shows a U.S. state accounting office transformed its paper-based reimbursement process into an automated, integrated travel and spend management system using Concur Travel and Concur Expense. The state's 70,000 employees benefit from mobile receipt upload, automatic mileage reimbursement, and automatic per diem calculation. 86% of users found approving reports easy, with approval taking no more than three days. The state also gained greater visibility into hotel spend through enhanced reporting, supporting more informed negotiation decisions.
A SAP Concur podcast features a conversation with Huron Consulting Group about Penn State University's transformation story in optimizing spend management and ERP systems. Penn State, a long-time SAP Concur higher education customer, confirmed Huron as a partner through the Concur Higher Education Leadership Forum (CHELF). Huron helped automate the Concur Request module to manage P-Card expenses, integrate procurement charges into Concur, and optimize workflows. The project also included migrating to SAP S/4HANA ERP and a new Concur instance, reducing over 500 expense GL accounts to fewer than 200 using sub-lists. Concur also developed an API to daily update Request user and approver checkb…
SAP Concur published an article noting that faculty and staff at colleges and universities are spending more of their institution's money across more spend categories and using more payment methods than ever before. For finance departments still struggling with manual processes, accurately tracking spending is challenging. The article recommends that institutions adopt modern spend management solutions to increase visibility, prevent duplicate payments, flag unusual transactions, and take advantage of discounted supplier rates. It also outlines critical steps such as automating all spending, embracing an open strategy, strategically managing spending, and reviewing spending.
A SAP Concur blog post discusses the importance of employee happiness amid the pandemic and Great Resignation, arguing that happiness breeds engagement, which in turn affects loyalty, productivity and profits. It says the issue is not money but frustrating, menial day-to-day tasks, especially travel and expense processes such as keeping paper receipts, filling out expense reports, and booking on a legacy travel program only to find the purchase falls outside a corporate rule they had never heard of. The post lists common employee complaints and suggests improving the experience with apps that automatically build expense reports, replace paper receipts with digital records, provide location-…
A SAP Concur blog post states that a typical organization loses about 5% of annual revenue to fraud each year, and employee expenses, especially travel, are both a large budget category and an opportunity for fraudulent claims. It recommends a corporate credit card program to tighten controls, with credit and transaction limits plus merchant and location controls, and data flowing directly to the company for monitoring suspicious spend. It also suggests integrating corporate cards with automated cloud-based expense solutions for visibility and reporting data.
SAP Concur blog cites an Oversight-sponsored Spend Insight Report showing corporate spend risk has nearly tripled since the pandemic, with remote work becoming an open invitation to high-risk spending. T&E spend infractions shot up 292% between 2019 and 2020, while out-of-pocket and fraud violations climbed 32% and 12% respectively. With more remote and hybrid workers, it's harder to tell how much spending crosses the line. Finance leaders must re-examine spend management and strengthen controls and audits.
A SAP Concur blog post highlights that AspireHR, an SAP Gold Partner, is helping State, Local, and Education (SLED) agencies in North America kickstart digital transformation with SAP Concur's automated, cloud-based expense management solutions. The article notes that with remote work as the new norm, SLED organizations face pressure to improve efficiency, eliminate manual processes, and make decisions based on complete and accurate data. SAP Concur can accelerate approvals and reimbursements, streamline workflows, enforce spending policies, eliminate manual processes and lost receipts, and enhance productivity and employee experience.
SAP Concur announced Verify, a new solution that uses AI and machine learning to evaluate 100% of expense reports and identify anomalies, helping auditors focus on potential problems. The article notes that the pandemic changed employee spending behavior, with SAP Concur data showing the proportion of expenses categorized as 'Other' increased by 58% from 2019 to 2020. Verify is planned to launch in Q3 2021.
SAP Concur joins American Express's 'Stand for Small' initiative, offering SMBs free trials of Concur Expense and Concur Invoice, helping them gain spend visibility and automate invoice processes.
SAP Concur blog highlights that growing businesses need a single, real-time view of spending to effectively control budgets and drive growth. The article recommends centralized finance teams obtain integrated travel, expense, and invoice data analytics, use role-based dashboards and reports, set up spending alerts, and address challenges like VAT reclaim, mobile spending, and tax compliance.
A SAP Concur blog post highlights that as businesses move to the cloud, lines of business deploying point solutions without oversight create cloud chaos. Citing Blissfully SaaS Trends 2020, the number of SaaS apps per company is up roughly 30% year over year, duplicate subscriptions increased 80%, and orphaned apps increased almost 100%. In enterprise-size companies, IT manages an average of 21,580 app connections, with 60% of the SaaS stack changing every two years. The article recommends finance and IT collaboration to select travel and expense solutions with strong ecosystems, automated integrations, and 24/7 support to control the chaos.