SAP Concur published a blog post offering strategies for building a cost-saving corporate travel program, covering foundational to advanced practices. The article emphasizes expanding spend visibility, simplifying compliance, uncovering hidden costs, and leveraging automation and AI, as well as strengthening supplier relationships and enforcing pre-spend compliance.
SAP Concur's blog lists 8 ways automation saves K-12 schools money, including reducing invoice processing costs, reclaiming staff time, preventing errors and overpayments, real-time visibility, reducing compliance risks, speeding reimbursements, smarter vendor decisions, and proactive budget management. Data cited: AP departments without automation spend $6.30 per invoice vs $1.45 with automation; organizations using Concur Expense reduce expense report errors by 52% and boost compliance by 65%.
This SAP Concur blog post explores how automated travel and expense solutions save costs by reducing manual processes, improving accuracy, and enhancing spend visibility. It also mentions savings through negotiation, tax reclaim, and avoiding roaming charges.
Citing the Cost Saving Methods for T&E Expenses guide co-created by Concur and Rocketrip, the article explores how to build an efficient, employee-friendly travel program. It notes that tickets booked fewer than seven days before departure cost an average of 44% more than those booked 15 or more days in advance. Requiring trip preapproval would cut last-minute travel spending but create more work for managers; a less drastic option is scheduling recurring reminder emails for employees to book a month ahead. The article argues T&E is one of the largest controllable expenses and also one of the most difficult to manage, because normal price considerations don't apply for reimbursable business…
A SAP Concur blog post notes that according to a J.P. Morgan study, company travel and expense (T&E) is the second largest expense behind payroll. Travel management companies (TMCs) can help companies optimize travel programs through service, savings, and visibility, including 24/7 support, policy enforcement, unused ticket management, and comprehensive reporting tools.
SAP Concur published an article emphasizing that in the economic volatility caused by the pandemic, businesses need to digitalize spend management to monitor costs and cash flow. The article notes that finance teams need deep insight into every aspect of company spend, and SAP Concur solutions integrate, automate, and make spend management processes accessible on any device. It also cites an AMI Partners study showing SAP Concur solutions lead to 25% greater cost savings on travel and expense management (US$40,000 per year) and 16% more time saved (122 hours per week) compared to major competitors, and 21% greater cost savings on invoice management ($42,000 per year) and 35% more time saved…
The article discusses how companies may need to re-platform their SAP Concur site due to M&A, expansion, etc. Re-platforming offers benefits such as scalability, reduced maintenance, improved reporting, new functionality, and site consolidation. Acquis Consulting Group provides a seven-step approach to streamline implementation and reduce costs.
NEC deployed SAP Concur solutions to reduce travel and expense administration time by approximately 40%, achieving annual savings of ¥200 million (US$1.8 million). Employees can photograph receipts and submit via mobile app, with integration to TMCs, corporate credit cards, and GDS for booking. The e-Bunsho timestamp feature aids Japanese administrators in compliance. During a major earthquake in Taiwan, NEC used risk management features to confirm employee safety within hours, compared to two to three days previously.