A SAP Concur blog post discusses accounts payable challenges facing higher education institutions during the pandemic: declining enrollments, student refunds, campus closures, and paper invoice backlogs from remote work. It cites an IDC white paper reporting that organizations using Concur Invoice saw average annual benefits of $662,700 ($3,258 per 1,000 invoices) and a three-year ROI of 634%.
A SAP Concur blog post explains how finance automation improves business cash flow. Manual paper-based processes make information hard to find in a timely manner, while automation solutions like Concur Invoice and Concur Expense allow data to flow automatically into systems, providing real-time visibility. The article cites Hammerson as an example, where spend visibility enabled better cash flow forecasting for growth planning. Automation also generates standard reports automatically, speeds up AP processes to reduce late payment fees, and frees up finance team time. Research suggests finance automation saves over 15% of time for those processing expenses and invoices.
This SAP Concur blog post emphasizes the importance of automating accounts payable and expense processes to control stress. It notes that nearly half of all accountants work more than 13 extra days per year, and automation provides real-time spend visibility, improves operational efficiency, and promotes work-life balance. Through examples, it shows how automated solutions reduce errors, save time, and boost employee satisfaction.
A SAP Concur blog post makes a data-driven case for invoice automation. It says the average AP organization spends $9.40 and takes 9.2 days to process a single invoice, and that AP departments with no automation and inconsistent processes cost four times as much per invoice as those with end-to-end automation. 62% of organizations report financial losses from fraud in the last three years; 78% of AP departments increased ePayments last year; 19% experience fraud frequently and 33% occasionally; only 51% can immediately recognize AP fraud; and 36% use no technologies to detect or prevent finance fraud. 33% already use advanced analytics and 22% leverage AI to detect and prevent fraud.
This SAP Concur blog post emphasizes combining accounts payable processes with fintech tools for successful spend management. It highlights how the pandemic drove companies to digitize invoice management, and introduces Concur Invoice integrated with payment provider solutions to automate end-to-end processes, offering control, data insights, spend maximization, security, and innovation without development costs.
SAP Concur blog notes 96% of businesses plan to grow, but manual AP processes can be a bottleneck. Finance teams spend 60% of time on day-to-day processes. 41% of finance leaders are concerned about staff productivity; 32% about turnover and low morale. Automation saves a five-person finance team 40 hours per week and $34,000 annually on average. More than two-thirds of finance leaders aren't completely confident their business is protected against fraud.
A SAP Concur blog post notes that many accounts payable processes appear automated but still rely on faxes, scanned images, and manual steps. It describes four common scenarios: centralized vs. decentralized capture, semi-automated approval workflows, ERP module limitations, and insufficient payment optimization. True AP automation should be entirely paperless, with all invoices received electronically and all communication around approvals or matching issues in a single system. The article recommends assessing automation levels and considering specialized solutions.
SAP Concur lists five things AP teams didn't sign up for: tedious manual invoice processing, being overwhelmed by paper invoices, lacking authority to fix broken processes while being scapegoated, feeling ignored, and working weekends to approve invoices. The post states most SMBs have two to four AP professionals processing hundreds or thousands of paper invoices monthly. Manual processes cause difficulty tracking spending, incomplete documentation, duplicate data, poor cash flow visibility, and slow approvals. SAP Concur recommends invoice automation to cut processing time, free teams for spend analysis and cost-saving, and claims automation saves companies tens of thousands of dollars an…
SAP Concur argues that paper-based month-end closing is often stressful and inefficient, and identifies three obstacles: difficulty gathering paperwork, time-consuming and error-prone data entry, and poor data quality that leaves no clear real-time view of finances. It says automation solves these problems: Concur Expense lets employees photograph receipts on their smartphones and automatically convert them into claims, while Concur TripLink captures travel plans and spend. Data flows seamlessly into the finance system, eliminating manual error, giving earlier visibility into spend for proactive decisions, and providing an end-to-end audit trail.
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 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.
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.
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.
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.
A SAP Concur blog post explores industry benchmarks for accounts payable efficiency, noting that delayed payments can lead to finance charges, poor vendor relations, credit rating downgrades, and supply chain disruptions, while paying too early impacts cash flow. It introduces the 'time-to-pay' metric and recommends keeping overall time-to-pay between two days to approve and three days to pay. It also lists best practices including configuring audit rules, integrating card feeds, automating receipt capture, and automating payment processes.
SAP Concur's blog notes that state and local governments face declining tax revenues and remote-work pressures during the pandemic, with manual invoice processes exacerbating difficulties. An IDC white paper found that organizations using Concur Invoice achieved average annual benefits of $662,700 ($3,258 per 1,000 invoices) and a three-year ROI of 634%.
SAP Concur blog published its 2022 top book and podcast recommendations from T&E industry thought leaders. Ashely Lehman, Concur Administrator in Accounts Payable at Geisinger, recommended 'The Anticipatory Organization' by Daniel Burrus. She connected the book's hard and soft trends concept to hard and soft stops in audit rules, and suggested approaching travel policies with a hard and soft trend vision. She also noted that pandemic-related travel disruption provided an opportunity to re-examine travel programs and processes.
SAP Concur blog post highlights that state and local governments face inefficiencies, errors, and risks from manual AP processes during the pandemic. Surveys show 68% of decision makers say unexpected expenses and new spending categories are major challenges to remote work, and 67% have taken on three or more additional responsibilities. The article recommends automated invoice and expense processing to reduce fraud risk, errors, and late payments.
A SAP Concur blog post cites a Wakefield Research survey of 350 higher education finance and administration staff, highlighting remote-work software gaps, budget tightening, and compliance pressure at colleges and universities during the pandemic. Only 16% of staff can continue working remotely without hurting department productivity; 60% are prepared to reduce pay or cut staff to offset budget shortfalls; and 71% are concerned about complying with regulations due to sustained remote work. 99% of decision-makers agreed certain investments must be made, and 84% want funding for technology that integrates systems, devices, and spend data.
This SAP Concur blog discusses digital B2B payments, which are faster, more accurate, and data-rich compared to manual systems. An American Express-commissioned Forrester survey found finance and procurement pros prioritize operational efficiency. Digital payments reduce manual labor, lower costs, improve visibility and control, and strengthen supplier relationships.
The article notes that manual invoice processing often involves paper handling, convoluted workflows and unreliable storage, creating an 'invoice black hole.' Invoice automation captures invoice data, routes it to approvers via custom rules and workflows, and schedules payments, reducing manual touches, avoiding late fees, and flagging discrepancies before payment through two- and three-way matching. Cloud-based solutions require no expensive software installation and can scale with the company.
The article notes that despite cloud technologies, most companies still rely on manual AP. An IFO study shows on average 50% of invoices are received by paper, 37% by email and 5% by fax. A 2016 Aberdeen Group study found manual invoice approval takes an average of 17 days and costs $31 per invoice. Ardent Partners research shows automation can reduce invoice processing costs by up to 70%.
The article notes manual invoice processes are costly and many financial decision makers are unaware. Outdated systems, inaccuracies, labor costs and decreased productivity are four key issues. ACFE estimates a typical organization loses 5% of revenue to fraud annually; AMI-Partners found implementing a vendor invoice management solution saves an average of $13 per invoice and $34,116 annually.
Based on invoice data from September 2015 to August 2016, SAP Concur says duplicate payments are a common and preventable error in accounts payable. Its SMB customers (up to 1,000 employees) process about 450 invoices in a busy month, with a 1.29% duplication rate—roughly six duplicate invoices monthly—and an average duplicate value of $2,034, implying about $12,000 in potential monthly outlay if paid in error. Concur Invoice matches invoice details to identify duplicates and can be configured to alert or automatically halt processing.
A SAP Concur blog post lists five reasons businesses should move past outdated invoice systems: better visibility, reduced costs, less paperwork, increased productivity, and user mobility. It states many CFOs and financial decision makers don't feel they have big-picture visibility into invoicing and office expenses; manual paper-based processes drive up labor costs, with businesses unknowingly throwing away thousands to millions of dollars each year on manual AP steps that could be automated; physical documents are subject to loss, fire, flood, and theft; and mobile and cloud solutions allow invoice processing and approvals via tablets and smartphones, reducing late payments.
The article notes that many SMBs rely on a single employee for AP, and manual processes are time-consuming and expensive. An IDC study found that after moving from manual to Concur Invoice automation, total processing time per invoice dropped 53%, staff time decreased 64%, savings equaled $7,537 per 1,000 invoices, vendors received payments 51% faster, delayed payments fell 67%, IT staff time fell 29%, and overall annual benefits reached $14,953 per 1,000 invoices.
A SAP Concur blog post details Concur Invoice features: automating the entire invoice management process from capture to pay, integrating with Concur Travel and Expense. Invoices can be submitted via email, fax, hard copy, or electronically. AI-powered OCR extracts data, validated and corrected by an auditor or invoice verifier. The system automatically matches invoices to POs and goods receipts, flags exceptions, and uses dynamic approval workflows. Concur Invoice Analytics provides real-time visibility into invoice status and spend. It cites Prison Fellowship, which saved minutes per invoice after using Concur Invoice.
A SAP Concur blog post states that processing a paper invoice costs $23 on average, while automation reduces the cost to $3.41 and cuts processing time by up to 75%. It lists five benefits of paying vendors on time: capturing maximum early-payment discounts and avoiding late-payment penalties and interest; building a positive reputation; receiving VIP service and pricing from vendors; preserving good credit; and gaining vendor flexibility during cash flow crunches. It also notes Concur Invoice gives suppliers a portal to view payment status and remittance information.
A SAP Concur blog says smaller universities and community colleges often waste time and resources on manual processes and lack spend visibility. It lists six benefits of automating AP, travel, and expense: eliminating paper, faster reimbursement, actionable data, adoption and compliance, traveler safety, and reduced fraud and waste. It cites a Kelton study saying manual-system institutions spend over five extra hours per expense report and over two extra hours per invoice, and a 2018 ACFE survey saying 18% of higher-ed fraud comes from expense reimbursement schemes.