An SAP Concur article explores the role of internal audit in fraud risk management, especially in travel and expense. A survey shows 65% of business travelers admitted to questionable expenses. The article lists common fraud types, such as mischaracterized, falsified, inflated, and multiple claims, and recommends automated solutions, clear policies, and regular audits to prevent fraud.
SAP Concur's ExpenseIt tool has evolved significantly since its launch, now incorporating generative AI and machine learning to automatically extract data from receipts and create expense entries. The latest feature uses large language models to process hotel folios, automatically removing personally identifiable information and improving expense report efficiency.
Integration of SAP Concur with SAP solutions provides a unified ERP system with real-time spend visibility. Case studies show Fulton County Schools reduced monthly financial processing time from 180 hours to 2 hours, and KUKA employees submit expense reports 7 times faster.
SAP Concur published an article on how AI is transforming financial functions and elevating professionals, based on a podcast conversation with Nathanael L'Heureux, Chief Client Officer at Oversight. The article notes that the finance industry faces challenges of less talent entering, older generations retiring, and more demands on those who stay, with up to 80% of finance work estimated to be manual. AI can automate this work but requires human guidance. The article suggests using existing tool frameworks to evaluate AI technologies and becoming an AI thought leader.
SAP Concur published an article on managing corporate cards and purchase cards (p-cards) with Concur Expense. Corporate cards are credit cards issued to employees for expenses like travel, meals, and lodging; p-cards are lines of credit used to buy supplies, subscriptions, or tools at preferred vendors. Both provide spending visibility and control. Concur Expense offers extended solutions like Company Bill Statements, Bank Card Feeds, Expense Payment Manager, and Central Reconciliation to automate reconciliation, accelerate reimbursement, and simplify management.
SAP Concur released a video series in which customers share real-world benefits of automation. Caris Life Sciences' Compliance and T&E Manager said a risk management solution streamlined the audit process; AtriCure's Senior Manager of Finance Projects said Concur Invoice workflow automation improved employee productivity and satisfaction; Lincoln International's Global Concur Specialist uses the Consultative Intelligence add-on to boost decision-making; and Great Hearts Academies' Director of Financial Shared Services said automated mileage tracking saves employees time.
A SAP Concur blog post argues that meaningful productivity gains happen at the organizational level through efficient systems and the right tools, not by focusing on individual employees. It cites McKinsey data that more than half of surveyed employees say they are relatively unproductive, potentially costing a company $228 million to $355 million a year. The post outlines how T&E tools boost organizational productivity through digitization (ExpenseIt receipt capture), automation (Concur Request approvals, Verify audits), and integration to eliminate data silos.
A SAP Concur blog post offers best practices for SMB tax compliance, including unifying expense and invoice systems, adopting digital tools and automation, recognizing the tax implications of remote work, building a culture of compliance, and teaming up with a trusted partner. It says SMBs face inefficient expense tracking, time-consuming tax document management, missed filing deadlines, and cash-flow difficulties, which can lead to fines and fraud risks.
An accounts payable automation trends study sponsored by SAP Concur and conducted by IFOL found 52% of AP professionals now spend fewer than ten hours per week processing invoices, down from 62% a year earlier; manual invoice entry into ERP or accounting systems fell to 60% from 85% in 2023. 64% of respondents cited stress from outdated processes as their biggest hurdle, and 40% pointed to strained vendor relationships. Only 7% currently use AI for spend management, but 40% are considering adoption within the next year.
A SAP Concur blog post says AI, automation and virtual payments are transforming spend management, making expense processes more integrated, automated and secure. It describes Concur Expense using ExpenseIt for photo-based automatic entry, itemization and categorization, and a Mastercard integration that auto-populates corporate card purchases. It also mentions an Extend virtual card integration embedded in Concur Invoice for invoice payments. Vantage Market Research expects the global virtual card market to triple by 2030.
A SAP Concur blog post outlines essential financial KPIs for travel and expense (T&E) spend analysis, including total spend, category spend breakdown, supplier performance, traveler behavior, cost per trip, compliance rate, report cycle time and ROI. It says KPIs can improve spend visibility, cost control, process efficiency and decision-making. It also cites the Analysis Mason 2022 study: solutions like SAP Concur helped organizations achieve a 28% reduction in excess mileage claims, a 26% decrease in budget overspending and a 26% increase in tax reclaim.
A SAP Concur blog post says that amid economic uncertainty and inflationary pricing, finance leaders are seeking more efficient spend management strategies. A SAP Concur study shows 90% of global senior finance leaders said there is a critical need to prepare their businesses for the unexpected. The post covers the definition, benefits and implementation steps of spend analysis, including defining objectives, identifying data sources, centralizing data, cleansing and normalizing data, categorizing spending, analyzing and monitoring, and acting on findings. It also recommends taxonomies such as UNSPSC or ECLASS and emphasizes automation and cross-functional collaboration.
A SAP Concur blog post discusses asynchronous work, where employees can work without needing to engage in real time. It cites an EY study of more than 16,000 employees: nine out of 10 want flexibility in when and where they work, and more than half would leave their company for a more flexible arrangement. It lists benefits such as improved planning, focus, cross-time-zone workflow, talent pool and job satisfaction, and challenges such as lack of immediate feedback, miscommunication and information overload. It recommends finance teams implement asynchronous work through clear communication, policies and procedures, technology, self-service resources and regular feedback.
A SAP Concur blog post explains external audits—independent assessments of financial statements, records and internal controls by third parties—to validate process accuracy and identify improvement areas. It says external audits can enhance financial transparency, ensure compliance, validate internal controls and support decision-making. It lists audit steps including planning and preparation, data collection and review, evaluation of internal controls, substantive testing, reporting and recommendations, and follow-up and remediation. It notes 94% of executives agree advanced technology can promote audit quality, and automating internal audit processes is 36% more efficient for expense repo…
This SAP Concur blog post explores the application of artificial intelligence in accounts payable (AP) processes. It notes that AI can automatically capture key invoice details, perform three-way matching, improve compliance and fraud detection, thereby enhancing efficiency and insight. Research shows that 63% of finance leaders plan to invest in cutting-edge technologies this year. AI cannot replace human expertise but can reduce manual work, allowing employees to focus on higher-value tasks.
SAP Concur, in collaboration with Deloitte Tax, discusses how businesses can simplify VAT reclaim processes. The article notes that businesses leave an average of 44% of potential VAT revenue unclaimed on travel and expenses, and recommends automation to improve recovery, citing Michelin's $3.9 million recovered in three years.
SAP Concur's blog covers key points of international VAT reclaim. It notes that VAT is recoverable in about 30 countries, with the EU having refund procedures. Businesses must be aware of strict time limits and are advised to use technology to automate invoice capture to improve success.
SAP Concur discusses the use and challenges of data analytics in expense audits. The article says expense audits are essential to control spend and ensure financial health, and integrating data analytics is revolutionizing the task; studies indicate data analytics enhances audit quality by providing deeper insights and identifying potential risks more effectively. It also notes challenges: the need for specialized skills, longer hours spent on analysis, disruption to traditional audit processes, and increased employee workload, exacerbating CPA staffing shortages and raising stress among travel managers. SAP Concur research found 47% of global travel managers say their role is more stressfu…
This SAP Concur blog discusses combining AI and human auditors to improve expense report audit efficiency. It notes that automated auditing can reduce the cost of expense report mistakes by 60% and cut audit time by up to 90%. It recommends auditing policy before manager approval to speed payment and reduce intervention.
SAP Concur published a blog arguing that companies should fully digitalize spend management now to cope with supply chain upheavals, inflation and global tensions. It cites that 90% of CFOs say preparing for the unexpected is their top task, and that finance and AP teams save an estimated 134 hours weekly using SAP Concur invoice management solutions. A fully automated solution spans request-to-payment, including receipt photo capture, automatic corporate card feeds, AI fraud and compliance checks, automated auditing and ERP integration.
SAP Concur announced seven 2024 Innovation Award winners showcasing travel and expense automation. Bechtel piloted Concur Select Access powered by Travelfusion to display NDC content alongside GDS fares, reducing out-of-channel direct bookings and improving Duty of Care reporting. Uber used Concur APIs and automation to save more than 5,000 employee hours, automate resolution of over 70% of expense-related help desk tickets, and drive corporate card adoption above 90%. KUKA made hotel and entertainment expense creation seven times faster. Stellantis unified T&E processes across 30 countries, with 98% of employees covered by Concur Expense, estimating savings of more than EUR1 million. PETRO…
A SAP Concur blog explains the role of receipt scanners in expense management. A receipt scanner is a hardware or software tool that converts paper receipts into digital documents via image capture or scanning, with mobile scanning software using smartphone or tablet cameras. Benefits include OCR reducing manual entry errors, cloud-based workflows speeding approvals, improved employee satisfaction, integration with financial systems, enhanced compliance and auditing, and reduced paper use. Selection considerations include hardware versus software, resolution, portability and integration.
The Ardent Partners report 'Accounts Payable 2024: BIG Trends and Predictions,' sponsored by SAP Concur, says AI and automation will deepen their impact on accounts payable, allowing AP teams to focus on strategic decision-making. Report topics include AI and digital transformation, fraud prevention, supply chain shifts, tightening invoicing standards, best-practice sharing, data value and AP career development. The report says AP is becoming a 'hub of intelligence' as well as a 'center of efficiency.'
SAP Concur published a CFO Insight Series report, 'Lead Through Business Uncertainty with Technology and Strategic Vision,' gathering views from global finance leaders. It advises finance leaders to embrace technology, prioritize foundational principles, and foster personal growth and collaboration. WalkMe CFO Hagit Ynon says the right tools, technology and mindset must be in place now to secure future profitable success. The report notes automation reduces nuts-and-bolts work while empowering finance to better analyze data; managing cash flow, payables, receivables, compliance and fraud prevention remain key duties but should be part of an integrated approach. Finance leaders also need to…
SAP Concur announced a new partnership with Mastercard to simplify the expense process. Through a new integration, purchases made on Mastercard corporate cards are captured and automatically populated in Concur Expense, with users alerted immediately if additional information is needed. The integration will be available to select customers globally starting in Q2 2024, and customers can continue banking with preferred partners and utilizing existing card programs. The partnership also includes spending controls and restrictions to encourage expense policy compliance.
SAP Concur published an article explaining the definition, process, and benefits of purchase requisitions. A purchase requisition is a formal internal request created before a company buys goods or services, helping increase visibility into spend before it happens. The article outlines seven fundamental steps, from creating the requisition and obtaining approvals to inventory verification, purchase order generation, and invoice payment. It notes that automating purchase requisitions can improve efficiency, save costs, reduce fraud, increase transparency, enhance accountability, and reduce duplicate orders.
SAP Concur published an article outlining the importance of strong expense reimbursement policies and six best practices. These include defining qualifying reimbursements, requiring receipts, reducing paperwork, setting submission deadlines, creating an approval workflow, and including quality and compliance audits. The article notes that clear policies protect both employees and the company, reduce the risk of noncompliant spend, and improve reimbursement efficiency.
SAP Concur released an eBook, "6 Ways to Grow Your Business with Spend Management Automation," explaining how intelligent travel, expense, and invoice solutions address current challenges and prepare for growth. The six ways include maximizing automation and closing visibility gaps; tracking and responding to spending to stay ahead of cash flow; empowering flexible and on-the-go work; encouraging compliance and managing risk; making sustainability part of the process; and growing the business with spend data. It says end-to-end automation limits spending falling through process and system gaps, and AI flags problems and cuts off tax issues.
SAP Concur released an eBook, "The Very Best Productivity Workarounds for Small Business," featuring six productivity strategies from Steve Strauss, author of "The Small Business Bible" and a longtime USA Today columnist: set SMART goals, apply the 80-20 rule, adopt the Eisenhower Box, use time blocking, leverage technology, and outsource and delegate. It says small businesses using Concur Expense save 13 hours per finance or accounting employee weekly.
SAP Concur published a guide outlining the value of artificial intelligence in expense management. The article notes that traditional manual expense management is inefficient, especially for large decentralized organizations, where finance managers cannot easily review every expense for compliance and employees spend significant time collecting receipts, filling out forms, and reconciling ledgers. AI expense management can accelerate task completion, ensure policy compliance, and provide more data for finance, HR, and travel professionals. Core tools include machine learning, mobile apps, optical character recognition, and cloud computing. Future trends include paperless expensing, blockcha…
SAP Concur published an article noting that U.S. state and local governments face pressures including tight budgets, workforce shortages, and increased scrutiny of public spending, yet many government organizations still rely on manual or outdated expense processes. Paper receipts, spreadsheets, disconnected systems, and lengthy approval chains slow operations and reduce spending visibility. The article identifies three areas where expense automation delivers immediate value: spend visibility and budget oversight, stronger compliance and audit readiness, and better employee experience. Modern expense management solutions can help agencies strengthen accuracy, transparency, and accountabilit…
SAP Concur published a video interview transcript in which Rahul Vig, Senior Director of Product Management, explains SAP's AI investment and three core principles: relevance, reliability, and responsibility. The article describes how SAP Concur uses AI to improve expense management, including ExpenseIt using machine learning to extract information from receipts and create expense reports, Verify automating the audit process, and Invoice Capture automatically capturing invoice information. Vig revealed that in the past 18 months, approximately 60 million expense reports were processed through Verify, with only 3% requiring manual auditor review. The future goal is to use generative AI to ma…
SAP Concur surveyed 220 finance leaders across seven markets and released a CFO Insights report. Findings show four of five top external challenges relate to global economic turmoil; CFOs respond by increasing market monitoring (57%), investing in innovation (40%), and automation and AI (33%); 68% of CFOs see AI as a threat to their position, while 82% believe it will make operations leaner.
SAP Concur released a buyer's guide for T&E solutions, noting 78% of decision-makers want a single solution to handle their entire T&E process. The guide covers benefits of intelligent automated solutions, features to look for (ERP integration, data security, AI automation, advanced payment methods, analytics dashboards), and key questions to ask providers.
SAP Concur's blog notes that automating accounts payable processes can help reduce out-of-policy spending and risk, increase spend visibility, boost productivity, and contribute to profitability. Citing IOFM data, AP teams using automation and consistent workflows process twice as many invoices per FTE.
SAP Concur's blog discusses new challenges in corporate tax compliance management, including diverse employee benefits, tax complexity under hybrid work models, and changing VAT regulations. The article notes many organizations still manage tax compliance manually while tax authorities have digitally transformed, requiring automation tools and cross-department collaboration to reduce risk.
SAP Concur published a guide to employee reimbursement management, covering reimbursable expense categories (citing the IRS, including travel, training, office supplies, tools, and software), tracking and payment methods, and tips for managing receipts and documentation, including implementing a strong expense policy, using a centralized system, checking itemized receipts, setting clear deadlines, performing periodic audits, monitoring spending trends, and integrating new technology.
SAP Concur published a blog discussing how its spend management solutions help businesses navigate expansion challenges across multiple regions, currencies, and compliance. The article covers two stages—exploring and embracing expansion—and highlights the importance of automation, data analytics, and compliance tools.
SAP Concur published a blog arguing that small and medium-sized businesses also need expense automation. It describes Concur Expense's mobile receipt capture, automatic categorization, and approval features, and cites data on its ROI.
SAP Concur published a blog discussing how automation, AI, and machine learning can reduce non-compliant T&E spend. Based on a webinar, it analyzes compliance trends, automation tools, data analytics, and audit strategies.