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 introduces sentiment analysis (also known as emotion AI), which uses natural language processing and machine learning to analyze positive, negative, or neutral opinions in text, applicable to survey research, social media analysis, and tracking psychological trends. Using the hotel industry as an example, it explains that hoteliers can aggregate and assess ratings and reviews to improve guest satisfaction. SAP Concur Labs and UX Analytics developed a sentiment analysis tool for user product reviews that automatically extracts themes to understand customer feelings and identify popular and frustrating features. The article also discusses the complexity of sentiment ana…
A SAP Concur blog post shares the travel and expense transformation case of medical device company Smith & Nephew. The company established a Global Business Services (GBS) centralized operations model to achieve compliance and globalization across more than 40 countries. Key learnings include not assuming customer needs, maintaining a consistent feedback loop, prioritizing employee satisfaction as a CEO-sponsored initiative, and early adoption of AI technology (such as Concur Detect) for seamless auditing. The post also discusses more human, flexible trends in post-pandemic travel recovery.
A SAP Concur blog post introduces the use of artificial intelligence (AI) and machine learning (ML) in travel, expense, and invoice management. It mentions that AI and ML can standardize policies, eliminate paper receipts, project travel budgets, and improve employee satisfaction. SAP Concur products like ExpenseIt use OCR and ML to extract receipt information, Concur Detect uses AI to audit expenses, and Concur Locate uses ML to locate employees for Duty of Care.
The article reviews ERP history: the Y2K crisis accelerated ERP adoption, with U.S. companies spending $100 billion on Y2K fixes according to a Senate report. IDC data put the ERP market at $25.4 billion in total revenue in 2016, projected to reach $33.6 billion by 2021. It contrasts on-premise and public cloud ERP, noting cloud ERP is typically more affordable, updates faster and forces data standardization that underpins AI and machine learning.
SAP Concur article discusses AI and machine learning in expense management, partnering with The New York Times to explain automated expense reports. It notes AI can reduce manual entry errors by up to 66%, improving accuracy and compliance. For example, Cardinal Health saved up to 10,000 hours per month by automating expense reports. The article emphasizes complementary roles for humans and machines, with AI creating new efficiencies rather than unemployment.
A SAP Concur blog post details Concur Invoice features: automating the entire invoice management process from capture to pay, integrating with Concur Travel and Expense. Invoices can be submitted via email, fax, hard copy, or electronically. AI-powered OCR extracts data, validated and corrected by an auditor or invoice verifier. The system automatically matches invoices to POs and goods receipts, flags exceptions, and uses dynamic approval workflows. Concur Invoice Analytics provides real-time visibility into invoice status and spend. It cites Prison Fellowship, which saved minutes per invoice after using Concur Invoice.