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Sep 9Tue
  1. SAP Concur Blog

    SAP Concur: Eight Key Questions to Review Your T&E Program

    SAP Concur published a blog urging finance leaders to periodically review their travel and expense (T&E) programs, offering eight key questions: whether T&E is defined consistently, whether spend can be managed in hybrid and remote settings, spend agility, fraud reduction, whether compliance protects both company and employees, whether the T&E system needs change, whether employees will actually follow the expense policy, and whether the right tools measure success. It notes employees use more payment methods and categories, and that without visibility and controls, spend data scatters, compliance slips and costs rise, citing that companies lose an average of 5% of annual revenue to fraud.

Aug 5Tue
  1. SAP Concur Blog

    How State and Local Governments Can Improve Taxpayer Trust with Automated Compliance

    A SAP Concur blog post discusses challenges U.S. state and local governments face in expense management, including outdated systems, manual processes, and compliance risks. Citing Wakefield Research data, it notes 29% of industry leaders use outdated T&E solutions and 30% use outdated accounts payable solutions. It recommends automated systems to improve transparency, security, and efficiency.

Jul 31Thu
  1. SAP Concur Blog

    Risks of Non-Compliance and Mitigation Strategies: SAP Concur's View

    A SAP Concur blog post discusses the risks of corporate non-compliance, including legal and financial consequences, reputational damage, operational disruptions, and fraud and financial loss. Citing ACFE data, it notes about 5% of revenue is lost to occupational fraud annually, with a median loss of $145,500. It recommends clear policies, formal approval workflows, automated compliance tools, and employee training.

Mar 24Mon
  1. SAP Concur Blog

    SAP Concur Releases Guide on Managing Allowable Expenses

    SAP Concur released a guide on managing allowable business expenses, defining allowable expenses (e.g., business travel, business meals, client entertainment) versus non-reimbursable expenses (personal costs, excessive spending). The guide notes ACFE estimates 5% of annual revenues lost to fraud in a typical organization, most commonly asset misappropriation such as padding travel and expense claims. Automated T&E solutions can compare every line item against policies to flag non-compliance or potential fraud. SAP Concur research shows integrated T&E solutions can increase policy compliance by 26% and save 20% in invoice processing.

Sep 25Wed
  1. SAP Concur Blog

    SAP Concur: The Development of Verify, a Thoughtful Automation Tool

    SAP Concur published an article on the development of Verify, its AI-powered expense audit tool. It cites ACFE data that organizations lose an estimated 5% of revenue to fraud annually, and a 2022 survey showing 89% of business travelers submitted at least one expense they weren't sure complied with company travel policy. SAP Concur introduced Policy Audit and Receipt Audit over a decade ago, which evolved into Intelligent Audit and then Verify. Verify can audit 100% of expense reports based on configurable rules, with a 24/7 team of auditors confirming when AI is unsure. The article also notes nearly one-third (32%) of occupational frauds are associated with a lack of internal controls.

Apr 16Tue
  1. SAP Concur Blog

    What Is Fraud Prevention? Key Points for Corporate Expense and Travel Fraud Control

    SAP Concur explains fraud prevention in practice. The article says fraud prevention cannot be a check-the-box exercise and must go beyond simple compliance with proactive strategies to reduce risk; many organizations lack the right policies and processes because they trust employees or haven't had a major issue yet, and too often such companies are experiencing fraud but failing to uncover it. Citing ACFE, the article says 5% of the typical organization's annual revenues are lost to fraud, and 86% of fraud cases involve asset misappropriation, including padding travel and expense claims. Measures include enterprise-wide risk assessment (EWRA), segregation of duties, authorization controls,…

Apr 12Fri
  1. SAP Concur Blog

    Reduce Fraud with Technology, Policy, and Other Tools You Have

    SAP Concur explains how to prevent and detect expense fraud. The article says 62% of organizations report financial losses from fraud within the last three years, and that preventing internal and external fraud and building compliance go hand in hand. It outlines four steps: update spending policies to clearly reflect current business needs and communicate them through automated travel and expense solutions; use automated T&E technology to deter fraud, such as integrating credit card data, applying automated audit rules, requiring electronic receipts, and supporting external audit programs; monitor and analyze spend data with reporting tools to spot patterns such as duplicate expenses; and…

Mar 13Wed
  1. SAP Concur Blog

    Ardent Partners: 2024 AP Trends Center on AI and Agility

    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.'

Feb 16Thu
  1. SAP Concur Blog

    SAP Concur Highlights Six Reports to Close Spending Loopholes

    SAP Concur published a blog recommending six reports within its solution to reduce non-compliant spending and potential fraud. Citing ACFE data, it notes 51% of surveyed respondents uncovered more fraud since the pandemic, and nearly half of reported cases stemmed from a lack of internal controls. The six reports cover route data, receipt attachments, cash versus card spend, approved reports with unviewed receipts, high-risk expense categories, and travel expenses on cash.

Aug 10Wed
  1. SAP Concur Blog

    SAP Concur: Transparency and Accountability in Energy and Utilities Spend Management

    SAP Concur published spend management guidance for the energy and utilities sector, noting the pandemic forced rapid digitization and organizations should now assess those rushed fixes. The T&E spend violation rate skyrocketed 292% from 2019 to 2020. Fraud remains a serious problem, with utilities seeing a median fraud loss of $200K. It recommends finance and IT collaboration and digital spend management tools for near real-time spend and cash flow visibility. An IDC report found 90% of decision-makers see room to improve spend control.

  2. SAP Concur Blog

    SAP Concur: Compliance and Accountability in State and Local Government Spend Management

    SAP Concur published spend management guidance for state and local government organizations, noting the pandemic forced rapid digitization and organizations should now assess those rushed fixes. The T&E spend violation rate skyrocketed 292% from 2019 to 2020. Government fraud varies by level: national government 46% affected ($200,000 median loss), state government 27% ($56,000), local government 25% ($125,000). It recommends finance and IT collaboration and digital spend management tools. An IDC report found 90% of decision-makers see room to improve spend control.

Jun 29Wed
  1. SAP Concur Blog

    3 Ways Technology Can Modernize Employee Spend for State and Local Government

    The article discusses slow adoption of cloud technology for employee spend management in state and local government, citing a GCN survey where 47% of employees said lack of leadership prioritization was the main reason and 80% of respondents said their agency was not open to adopting cloud-based solutions. It outlines three ways technology can help: control employee spend and reduce costs, increase productivity and achieve scalability, and reduce fraud, waste, and abuse. Data cited includes 40% of public sector employees still using pen and paper, over 80% saying expense approval takes two weeks or more, and ACFE finding 18.7% of employee fraud occurs in government entities in 2018.

  2. SAP Concur Blog

    How Fraudsters Find Weak Links in Employee Spend Areas

    The article states that inefficient, antiquated travel and spend management exposes organizations to substantial fraud and noncompliance risks. FCPA violations have resulted in penalties of $965M for a European telco, $800M for a multinational technology company, and $795M for a global telecom. ACFE found that companies using data monitoring and analysis technology had 52% lower losses and 58% faster detection. CenterPoint Energy used modern expense reporting to uncover a fraud scheme spanning over a decade.

  3. SAP Concur Blog

    How to Control Government Employee Spend

    SAP Concur published a blog post discussing how the public sector can control employee spend and combat fraud. The article notes that managing taxpayer dollars comes with heightened responsibility and public scrutiny, and the shift to remote work requires re-evaluating spend processes. Decentralized spending, manual processes, and poor data integration are key factors leading to errors or fraud. Automating spend processes helps agencies create built-in policies that flag inappropriate expenses before reimbursement, reducing mistakes and potential fraud.

  4. SAP Concur Blog

    SAP Concur: Efficient Audits Can Strengthen Expense Control

    A SAP Concur blog post notes that while organizations want to review 100% of expense reports to catch mistakes and fraud, auditing is time-consuming and expensive, so many avoid it. The article argues that skipping audits risks compliance fines, costs from human error and greed, and falling behind amid continuous change. It recommends combining intelligent technology with expert review and embedding intelligent spending reviews into expense processes to improve efficiency and support continuous improvement.

  5. SAP Concur Blog

    Three Tips for Combatting Expense Report Fraud

    A SAP Concur blog post notes that as more employees travel for business, expense reports are vulnerable to fake claims. It offers three tips: know common fraud schemes (such as profitable per-diems, mileage padding, and double dipping); institute a corporate credit card program to improve monitoring; and use automated expense reporting systems like Concur Expense and Concur Detect, which use AI to analyze receipts, credit card transactions, and travel bookings to identify fraud, compliance issues, and errors.

  6. SAP Concur Blog

    The Top 4 Spend Management Challenges Financial Service Firms Face

    A SAP Concur blog post analyzes four major spend management challenges facing financial services firms: high compliance costs, fraud risks, outdated technology, and mobile work needs. Citing a Duff & Phelps survey, 24% of financial services executives expect compliance spending to exceed 5% of revenue by 2023. The article recommends automating expense reports, implementing corporate card programs, using data analytics, and adopting mobile solutions to address these challenges.

  7. SAP Concur Blog

    Four Necessary Actions to Prevent T&E Fraud

    According to the Association of Certified Fraud Examiners, businesses lose more than $3.5 trillion each year to fraudsters. Any employee reimbursement program carries fraud risk. The article recommends four measures: specify which apps employees may and may not use and update expense policy; implement a corporate card program to integrate T&E data and tighten controls; go beyond automation to integration for real-time visibility and tamper prevention; and conduct regular reviews and audits of the expense management system.

  8. SAP Concur Blog

    What's Your Spend Management Costing You? SAP Concur Analyzes Automation Value

    SAP Concur published an article examining the hidden costs of manual, paper-based expense management. It provides a formula for calculating cost per expense report and cites multiple data points: 81% of finance leaders admit to blind spots in travel, expense, and invoice spend; automation can reduce AP data entry time by 37% and invoicing errors by 33%; the typical organization loses 5% of annual revenue to fraud. The article also notes that organizations creating exceptional employee experiences see 17% higher productivity, 21% higher profitability, and 24% lower turnover.

  9. SAP Concur Blog

    4 Expense Process Tips to Save Your Bottom Line

    A SAP Concur blog post offers four tips for optimizing expense processes: 1. Audit existing processes to identify bottlenecks and fraud opportunities; 2. Evaluate for change, leveraging mobile apps and automation tools to improve compliance and efficiency; 3. Focus on saving time to save money, streamlining processes reduces rework and delays; 4. Take the expense process to the next level by following best practices. The article emphasizes that a clear process reduces employee confusion, non-compliant expenses, and delayed reimbursements, while also decreasing fraud risk.

  10. SAP Concur Blog

    Six Ways to Ensure Your Invoice Process Works for You

    A SAP Concur blog post offers six ways to optimize invoice processes during disruption. Citing a GBTA survey where 96% of businesses described COVID-19's impact as significant, it recommends accelerating invoice capture, approvals, and processes. Methods include: doing things digitally, eradicating duplication and fraud, on-the-go approval, automating policy adherence, keeping communication with suppliers, and spotting trends to adapt. The article also describes how Concur Invoice provides visibility, speeds up payments, and integrates travel and expense data.

  11. SAP Concur Blog

    SAP Concur: How Public Sector IT Can Transform Government with AP and Expense Automation

    SAP Concur addresses public sector IT leaders with talking points for modern AP and expense management software: improving spend transparency and accountability, planning budgets on real data, improving employee experience and retention, and eliminating errors and fraud. It suggests extending AP automation to state and local governments.

  12. SAP Concur Blog

    SAP Concur: Business Case for Invoice Automation Costs and Benefits

    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.

  13. SAP Concur Blog

    How to Fine-Tune Your Expense Approval Process

    A SAP Concur blog post notes that expense approval is both an administrative burden and a vital task. 5% of a typical organization's annual revenue is lost to fraud, and 10% of travelers have at least one duplicate expense averaging over $50. The article offers four tips: use automation to spot inconsistencies, train approvers, review the approval chain, and consider Concur Audit as a safety net. Placing automation at the heart of the approval process can reduce approver time and increase compliance confidence.

  14. SAP Concur Blog

    Mileage Reimbursement: How Much Are You Paying for Overstated Expenses?

    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.

  15. SAP Concur Blog

    Using a Corporate Credit Card Program to Fight Expense Fraud

    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.

  16. SAP Concur Blog

    SAP Concur Travel Industry Summit Returns Online on June 9

    The third SAP Concur Travel Industry Summit will be held on June 9, 2022 as a complimentary half-day virtual event focused on how the travel community has evolved and the future of business travel. It features an interactive swarm intelligence session, roundtables, a resilience expert, and breakout sessions on sustainability goals, modern travel policies, fraud prevention and travel tech investment, with participants including United's CEO and IHG's Chief Sustainability Officer.

  17. SAP Concur Blog

    How Financial Services Firms Manage Fraud and Compliance Risk: SAP Concur Proposes Four Steps

    SAP Concur published an article outlining four steps for financial services firms to manage compliance and fraud in travel and expense programs. It cites data: nearly 20% of T&E expenses fall outside policy; companies with anti-fraud controls experience 52% lower fraud instances and detect fraud 58% faster; 41% of respondents spend 50+ hours per month auditing expense reports. The article also references a FINRA action against a former Merrill Lynch broker and notes FCPA violations can carry up to $100,000 in criminal fines and 5 years imprisonment.

  18. SAP Concur Blog

    Six Ways for Enterprises to Close Spend Loopholes with Tech

    A SAP Concur blog post cites data showing significant non-compliant corporate spend: 56% of organizations generally reimburse employees for out-of-policy spend, 52% of hotel and air bookings are made outside corporate channels, $19 billion of spend was labeled 'other' in 2019 by SAP Concur customers, and 20% of companies say they cannot recover VAT due to complex procedures. The post says employee spend is the second largest cost next to payroll, and notes that supplier-employee direct relationships, numerous booking channels, employees not waiting for formal processes, and COVID-19 and remote-work expenses falling outside policy make spend hard to track. It also cites ACFE data that during…