The article notes that travel policies are often lengthy and complex, making them difficult for employees to read and follow. It suggests companies redesign travel policies to be more concise and modern, guiding employees to make optimal travel decisions.
SAP Concur and TransferMate discuss cross-border payment challenges, including manual processes, high fees, and compliance issues. TransferMate's automation solution reduces labor and improves efficiency, supporting 162 countries and 134 currencies. Transaction volumes rose over 800% in 2021.
SAP Concur article discusses how aerospace, defense, and government contracting organizations can improve transparency and accountability through digital spend management. Post-pandemic, organizations should evaluate temporary fixes. Spend management platforms provide real-time visibility, budget control, and reduce fraud risk. Data shows T&E violation rates rose 292%. Integrated platforms save costs and improve efficiency.
SAP Concur podcast discusses SaaS management with Zylo co-founder. Average mid-size organizations use over 300 SaaS apps, large enterprises thousands. 37% of SaaS apps are purchased by employees online, leading to over $65 million in stealth spending annually, 40% wasted. Zylo helps organizations discover and manage SaaS apps, reducing security and compliance risks.
SAP Concur article emphasizes integrating travel, expense, and invoice management. Through automated compliance checks, mobile access, and comprehensive reporting, businesses can improve efficiency, reduce costs, enhance compliance, and leverage data-driven decisions.
A SAP Concur blog post examines how companies handle invoices that fall outside their procurement system, such as those from utility providers, marketing, catering, and events. It recommends capabilities including pre-spend authorization, automated invoice scanning, automated early payment to capture supplier discounts, and mobile approval to control costs, ensure compliance, and improve cash flow.
A SAP Concur blog post notes that remote work and disrupted travel led companies to shift spending policies, while supply-chain chaos and inflation further clouded the policy picture. SAP Concur research shows the spending violation rate increased last year and excessive personal expenses jumped nearly 22%. The post recommends automation, AI, and machine learning to strengthen auditing, guide employee compliance, and adapt to policy changes.
A SAP Concur blog post argues that employee spending decisions are both moments of risk and moments of opportunity. It identifies four key moments: turning confusing processes into moments of clarity with intelligent tech, turning regulatory shifts into moments of certainty with spend management solutions, turning spending decisions into moments of accuracy with precise data, and turning frustrating invoices into moments of confidence by simplifying invoice management.
A SAP Concur blog post notes that invoices from outside the procurement system and supplier network, such as catering and marketing printing, are hard to capture and bring into compliance. It recommends technology that includes pre-spend authorizations, automatically captures invoices, matches purchase orders, receipts, and invoices, and flows data into accounting systems. The post also states that organizations running SAP Concur Invoice earn a 505% ROI over five years.
A SAP Concur podcast conversation with Zylo co-founder Ben Pippenger discusses SaaS management. The average company spends $65 million annually on SaaS and uses about 323 applications, with nearly 40% going to waste. About 37% of applications are bought by employees via expense reports or P-Cards, accounting for about 7% of overall spend. 55% of applications are misclassified in expense reports.
A SAP Concur blog post argues that aerospace, defense, and government contracting organizations should assess the rushed digital fixes implemented during the pandemic. It cites data showing the T&E spend violation rate skyrocketed 292% from 2019 to 2020, and 90% of decision-makers say there is room to improve how they control spend. Organizations deploying an integrated spend management platform reported $777,000 in annual savings on business travel and expense reporting costs.
SAP Concur article targets higher education and K-12 school districts, emphasizing assessment of pandemic-era digital fixes. Spend management platforms provide real-time visibility, budget control, and improved employee experience. Data shows T&E spend violation rate skyrocketed 292% from 2019 to 2020. Median loss of occupational fraud in education is $56,000. Adopting integrated platforms can save $777,000 annually on travel and expense reporting, increase compliant reports by 65%, and reduce errors by 52%.
A SAP Concur blog post discusses how academic medical centers can fuel innovation by automating expense processes. It notes that doctors spend less than a third of their time treating patients, with the majority spent on administrative tasks. Automation can reduce administrative burden, simplify reporting and reimbursement, and help manage grant spending.
An SAP Concur blog post cites GBTA data to highlight the high cost of manual expense report processing, with an average cost of $58 per report and 19% of reports containing errors. The article recommends automating workflows, integrating with accounting systems, and implementing corporate card policies to reduce manual effort, improve data accuracy, lower costs, and increase employee satisfaction.
This SAP Concur blog post stresses that while pursuing growth, companies must adhere to expense policies and regulations. Compliance is not a necessary evil but essential to protect against overspending, fraud, and fines. It recommends using automation for real-time reviews, intelligent flagging, and analytics to build a culture of compliance, making compliant spending easier than non-compliant.
SAP Concur blog and WSJ podcast discuss T&E compliance. T&E fraud is a human problem; when employees book and expense themselves, they can easily fall outside policy accidentally or purposely. Random audits are like looking for a needle in a haystack. AI and machine learning can help build a culture of compliance, automatically auditing every transaction and detecting fraud, errors, and misuse.
EY, through SAP Concur, offers an end-to-end travel management solution to help corporations manage business travel risks. The article identifies three key risk areas: trade risks (rising protectionism is the biggest risk, with US-China business travel suppressed), tax risks (129 countries pledged to implement BEPS, tax authorities may demand permanent establishment), and talent risks (countries protect domestic workers, such as EU posted-worker regulations). EY's service provides real-time assessments of travelers' tax, immigration, and EU posted-worker obligations.
The article points out that rubber-stamping expense reports can lead to errors and waste. According to GBTA, 19% of expense reports have errors, and it takes an average of 18 minutes and $52 to fix one. Recommendations include digital receipts, streamlined approval workflows, and audits to reduce errors and improve compliance.
The SAP Concur blog discusses challenges faced by higher education finance departments in remote work environments, including unexpected expenses, a surge in invoices and reimbursement requests, and traditional policies that don't fit. The article emphasizes automation, integration, and digitization as key solutions, enabling streamlined workflows, AI-driven auditing, and real-time visibility to control costs and improve compliance.
PwC's 2018 Global Economic Crime and Fraud Survey found that 49% of organizations globally have been victims of fraud, up from 36% previously. Companies are scrutinizing travel and expense (T&E) spend to prevent and detect fraud. SAP Concur experts answered questions at an ACFE webinar on global expense policy compliance, gift handling, audit rules, automatic corporate card feeds, senior management expense review, and AI detection tools, recommending automation, integration, and proactive reporting to build a best-in-class T&E program.
A SAP Concur blog post introduces Concur Event Management by Groupize, addressing logistical, budgetary, and compliance challenges of traditional meeting management. Meeting costs average 41% of organizations' T&E budgets but are spread across systems and spreadsheets, lacking total cost visibility. The solution offers self-service planning, automated rules and approvals, venue bidding, safety protocols (e.g., vaccination card upload and contact tracing), one-click shift to virtual, and cost tracking from initial to final budget for ROI assessment.
SAP Concur has released a new eBook, "Why SAP Concur? And the Cost of Doing Nothing," discussing the risks of not investing in automated expense, travel, and invoice management. The article states that 75% of finance leaders say their business often exceeds expense, travel, and invoice budgets; manual processes and siloed data can lead to wasted time, lost productivity, unclaimed VAT, and spiraling costs. SAP Concur says its cloud-based and mobile-optimized tools can help automate processes, increase compliance, and reduce fraud risk.
A SAP Concur blog post advises small and medium-sized businesses to create or update expense policies to streamline reporting, reviewing, and approval processes. It emphasizes that policies should be clear, easy to find, and highlight benefits, and recommends supplementing policies with automation tools like Concur Expense.
This SAP Concur blog post emphasizes the importance of data integration in travel risk management. It notes that TMCs are primary external TRM partners, but direct bookings create data gaps. Companies need to centrally aggregate internal and external data to pinpoint traveler locations and ensure compliance.
The SAP Concur blog explores the transformation of corporate travel post-pandemic, emphasizing the balance between compliance and flexibility. The article notes that companies need to give travelers more choice and safety while controlling costs, forecasting expenses, overseeing itineraries, and fulfilling duty of care. Recommendations include adding preapprovals, capturing direct bookings, focusing on mileage, and working with finance.
SAP Concur published a blog post discussing how technology can help businesses prevent fraud and save money. The article cites a report from the Association of Certified Fraud Examiners (ACFE) estimating $7.1 billion in annual losses due to internal fraud, with the average organization losing 5% of its annual revenue. It notes that small and mid-size businesses face higher risks of duplicate invoices and recommends preventing fraud through automated expense management, mobile solutions, and clear policies.
A SAP Concur blog post discusses risk and compliance issues around employee spend, including UK HMRC penalties for errors due to a lack of reasonable care, internal policy compliance, financial risk and fraud risk. It cites data that 37% of business travelers had at least one exception on their expense reports and that T&E fraud averages a median loss of $125,000.
SAP Concur published an article on how companies can strengthen T&E spend oversight without adding headcount. T&E can account for as much as 10% of a company's budget, and greater employee spending power raises risks of fraud, compliance breaches and traveler safety. SAP Concur offers mobile tools that help write expense reports, automatically applies spending controls and targeted audit rules, and Concur Audit uses objective experts to review reports against internal policies and regulatory requirements. An IDC infographic shows that after implementing SAP Concur, 62% more employees followed T&E policies, lost receipts fell 67%, auditing staff was 28% more efficient, and businesses saw ave…
The U.S. Sunshine Act (Open Payments) expanded the definition of 'covered recipient' to include five additional provider types: physician assistants, nurse practitioners, clinical nurse specialists, certified registered nurse anesthetists, and certified nurse midwives. Starting with 2021 data collection, life sciences companies must track payments or transfers of value to these new HCPs. The CMS Final Rule requires reporting direct or indirect payments, with penalties up to $10,000 to $100,000 per line item. Companies need to update systems, data management, and training to handle a potential increase of 350,000 to 400,000 reportable individuals.
A SAP Concur blog post advises UK SMBs to prepare for Brexit, whatever the outcome. It notes that businesses trading with or traveling to the EU may need to adjust travel, expense, and invoice processes. Specific recommendations include updating travel policies, considering prepaid currency cards, and preparing for changes to VAT refund processes.
SAP Concur's blog notes that finance departments often scramble to account for employee expenses during year-end reporting. It recommends reviewing the end-to-end expense process, clarifying responsibilities, and adopting automation to increase visibility. An automated system can track expenses in real time and support mobile receipt submission, speeding up reimbursement and reducing non-compliance and fraud risks.
A SAP Concur blog post cites ACFE President Bruce Dorris: the COVID-19 pandemic and resulting economic instability will not only increase levels of fraud but also lead to more discoveries of existing fraud. The post recommends organizations bolster internal controls to mitigate fraud, focusing on detecting and preventing fraud in expense, invoice, and other employee spend areas, and references the ACFE 2022 Report to the Nations on Occupational Fraud and Abuse.
A SAP Concur blog post notes that mileage reimbursement is one of the largest categories of employee spend, with U.S. businesses spending more than $1.95 billion on mileage reimbursement in 2017. Manual mileage tracking is error-prone: employees may forget to record, deviate from routes, or pad claims. SAP Concur offers Concur Drive, which tracks mileage automatically or manually using phone GPS and sensors, integrates with Google Maps, and provides a transparent audit trail to simplify compliance and VAT reclaim.
SAP Concur blog post discusses how finance leaders can build a scalable audit process to support business growth. It recommends considering when, what, and why to audit, and emphasizes the need to ensure compliance with global regulations and internal policies amid global expansion and acquisitions.
A SAP Concur blog post opens with the idea that doing the same thing repeatedly while expecting different results is futile, arguing that companies relying on manual processes and outdated systems will not see unexpected spend, poor productivity and employee dissatisfaction resolve themselves. It says travel and expense is often the second-largest spend for businesses, and that Concur Expense and Concur Travel help review consolidated reliable data, spot cost-saving opportunities, and improve policy compliance, productivity and employee satisfaction.
A SAP Concur blog post notes corporate travel spend is getting harder to manage: travelers book via mobile apps and supplier websites, and new distribution channels fragment booking and cost data. GBTA data shows 77% of businesses are not completely confident they can quickly and accurately locate business travelers in an emergency. Compared with five years ago, experienced travel managers spend 66% more time on data and analysis reporting, 66% more on evaluating or implementing new technology, 60% more on traveler safety and duty of care, and 52% more on cross-department meetings or collaboration. The article recommends finance and travel program leaders work together to deploy solutions t…
The pandemic has caused state and local governments to face unexpected expenses and new spending categories, with 68% of decision makers citing this as a major challenge. CARES Act funding comes with compliance requirements; automating expense and invoice management provides real-time visibility, ensures compliance, and adapts to change.
SAP Concur blog notes that travel managers are spending 60% more time on data analysis, technology evaluation, and traveler safety. However, a 2018 GBTA Foundation survey shows 80% of travel programs don't use technology to capture outside bookings, and 86% don't use tools for suppliers to send reservations directly to TMCs. Automated connected travel solutions can help simplify processes.
SAP Concur published an article emphasizing the importance of a supplier invoice policy. An effective policy can reduce time spent approving and processing invoices, handling exceptions, and storing and retrieving documents. The article suggests the policy should include a statement of purpose, company expectations and compliance, areas of ambiguity, and consider purchase orders, invoice coding, approvals, retention periods, and payment terms. Automated invoicing software can further improve efficiency and control spend.
SAP Concur blog cites Phocuswright research showing invisible spend (corporate travel data not captured by traditional TMC reporting) can hurt supplier negotiations, cause compliance issues, and jeopardize traveler safety. Phocuswright surveyed 2,300 business travelers and found 88% relied on smartphones on business trips, leading to new traveler behaviors and difficulty measuring compliance. The article recommends capturing all travel data to improve policies.