SAP Concur published a blog for AP Recognition Week, suggesting businesses show appreciation for accounts payable teams by providing automation tools, skill development opportunities, and leadership roles. It highlights that AP automation improves efficiency and reduces costs.
SAP Concur published an article discussing the benefits of accounts payable (AP) automation. It notes that 70% of organizations are not automated across financial processes, and manual invoice processing can take up to 9.5 hours per invoice. AP automation uses technologies like e-invoicing and OCR to improve spend visibility, optimize supplier contracts, reduce risk, and improve cash flow forecasting. The article also discusses where to start and the importance of change management.
The SAP Concur Conversations podcast features Grace Swain, Senior Consultant at TCG Consulting, discussing accounts payable (AP) automation. Only 10% of businesses have fully automated their AP processes, with most still heavily manual. The conversation covers key barriers (upfront cost, process volume, change management), a phased implementation path (supplier portals, OCR, ERP integration), and the value of automation in reducing risk, lowering costs, and improving spend visibility.
This SAP Concur blog post discusses how businesses can prepare for unexpected changes by automating finance processes, setting priorities, managing cash flow, establishing remote work policies, and debriefing processes. It emphasizes that automation reduces errors and improves visibility, making businesses more resilient to disruptions.
A SAP Concur blog post predicts a marked shift in how workplace tools connect and integrate from 2023 into 2024. Citing an early 2022 SAP Concur pulse survey, it notes that 57% of U.S. finance managers use multiple applications, and 17% use multiple applications with no integration. Additionally, 86% of business travelers reported their company had been delayed in reimbursing expenses at least once in 2021, and 89% said delays impact their personal finances. The article argues that more integrated travel and expense solutions will provide better spending visibility, more efficient finance processes, and ultimately faster reimbursements.
A SAP Concur blog post provides a guide to assess accounts payable (AP) automation levels. Citing survey data, it notes that the average company processes 252 vendor invoices per month, spends 13 hours per week processing them, and takes 11 days to get sign-off approval for payment from receipt. The article categorizes AP automation into four levels: little to no automation, some automation, fully automated, and AI-enhanced automation, and provides characteristics and upgrade suggestions for each. It also mentions that after implementing an automated invoice management solution, 36% of businesses cited finance/accounting employee time savings as a top benefit, 46% cited increased employee s…
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.
SAP Concur cites AMI-Partners research showing that SMBs using Concur Expense save an average of $39,000 annually, and outlines the current state of SMBs still relying on spreadsheets and handwritten records to manage expenses and the associated costs.
SAP Concur published an accounts payable (AP) guide explaining that AP refers to money a business owes its creditors, with a typical process covering invoice delivery, review, approval, and payment. Citing a survey of 420 businesses across five countries, it notes 69% of respondents cited inefficiency of manual processes and 56% reported missing documentation. AP automation digitizes vendor invoicing; AIIM research shows an average 29.2% reduction in invoice processing costs, with nearly one-third of businesses cutting costs by 50% or more.
A SAP Concur blog post by former Chief Revenue Officer Christal Bemont discusses how small business owners can balance work and life by automating financial processes. The post notes that automation eliminates tedious tasks, provides real-time spend visibility, and helps forecast the future. SAP Concur is sharing resources through National Small Business Week.
SAP Concur Value Consultant Ryan Hamilton and Deloitte Specialist Master Oren Geshuri discuss the current state and future evolution of accounts payable (AP) automation in a podcast. The conversation focuses on employee experience and spend governance, noting that COVID-19 accelerated the digitization of AP processes and highlighting the strategic value of automation in improving efficiency, optimizing cash flow, and enhancing organizational resilience.
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 advises companies to establish a solid spend management process before incorporating artificial intelligence (AI). It offers four steps: understand the importance of spend management, get a 30,000-foot view of current processes, update processes with AI in mind, and get help from experts. SAP Concur CFO Jason Woods emphasizes that a spend management plan is critical to a company's financial health, regardless of industry or size.
A SAP Concur blog post cites an IDC white paper finding that eight interviewed businesses improved their AP processes with Concur Invoice: staff time on invoice processing fell 68%, employee compliance rose to nearly 100%, late payments to vendors dropped 67%, line-of-business productivity rose 11%, and IT staff time managing AP solutions fell 29%. The white paper also projects annual benefits of $775,401 per organization ($15,418 per 1,000 invoices) and a 505% ROI over five years.
A SAP Concur blog post argues that rapid changes in technology and traveler behavior are reshaping corporate travel, requiring modern solutions to control employee spend. It lists six ways automation can uncover savings, including reducing manual-entry errors, cutting management time, and gaining visibility into mobile spend. It cites a 2015 Oversight Systems study finding one in ten travelers submits at least one duplicate expense in error, at roughly $50 per error, and notes that poor mobile-contract management can mean overpaying by as much as 30% per device.
A SAP Concur blog explains that T&E stands for travel and expense, a major operational cost. It says T&E expense management is considered the second-most difficult operating cost to control, 80% of organizations still rely on manual processes, and almost 20% of T&E expenses fall outside policy. Knowing real spend can help negotiate lower supplier prices, avoid duplicate or fraudulent expenses, and speed employee reimbursement.