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Jun 29Wed
  1. SAP Concur Blog

    Strategies to Improve Business Cash Flow: Automating Expense and Invoice Management

    The article outlines strategies to improve business cash flow, including understanding money movement, cutting unnecessary costs, and streamlining payment processes. It recommends invoicing promptly, offering discounts for prompt payment, asking for deposits, controlling travel and expense spend, and using automation tools like Concur TripLink and Concur Expense to get expenses into the system faster, improving visibility and optimizing cash flow.

  2. SAP Concur Blog

    Is Automation the Overlooked Secret to Small Business Growth?

    A SAP Concur blog post argues that process automation is an overlooked key to small-business scaling. It cites an AMI-Partners study of SMB finance decision-makers: 69% reported cumbersome manual processes, 60% struggled to track spending and 56% dealt with missing paperwork. The post says cloud automation improves visibility into spending and cash flow, saves accounting teams 16% of their time (about 40 hours per week on invoice processing), makes expense reporting up to 80% faster for employees and delivers average annual savings of about $34,000.

  3. SAP Concur Blog

    SAP Concur: How Automated Expense Management Frees Finance to Focus on What Matters Most

    SAP Concur argues that manual and spreadsheet-driven processes have an even bigger impact on the efficiency and growth goals of small-to-midsize businesses (SMBs) given their resource constraints. It cites research that 41% of businesses have a paper-based expense process, 26% use spreadsheets to manage expenses, and 73% do not use automated expense management systems at all. It lists four categories of reasons SMBs have not automated, and cites AMI-Partners data that automated spending solutions deliver significant savings: improved tracking saves finance firms US$28,000 per year and retail businesses $33,000 per year; more-accurate data saves professional services firms $39,000 per year;…

  4. SAP Concur Blog

    Manual to Mobile: The Shift in Business Spend Management

    This SAP Concur blog post discusses the shift from manual paper-based processes to mobile expense management. Citing SMB Group research, it notes that over half of SMBs have employees using mobile devices for business, and mobile solutions are considered critical. The article highlights how mobile technology boosts productivity and flexibility, with millennials driving the mobile-first trend.

  5. SAP Concur Blog

    How Small Businesses Are Using Spend Management To Drive Growth

    A podcast series by SAP Concur in collaboration with The Wall Street Journal's Custom Studios explores how SMBs can gain a clear view of spend by automating travel, expense, and invoice management. Automation can help optimize cash flow, speed up expense approvals and reimbursements, and save costs through data insights. The five-part series aims to uncover how companies drive growth through spend management innovation.

  6. SAP Concur Blog

    AMI-Partners: Automated T&E Management Saves SMBs Over $31,000 a Year

    Citing an AMI-Partners survey, SAP Concur says SMBs that keep managing travel, expenses, and vendor invoices with spreadsheets or pen and paper lose time and money to inefficient processes, a problem that becomes clearer beyond 50 employees. The survey found SMBs using T&E automation save over US$31,000 per year, with Concur Expense users saving an average of $40,000; firms adopting vendor invoice management saved nearly $34,000 annually, and Concur Invoice users saved over $42,000.

  7. SAP Concur Blog

    The Perks of Paperless Invoice Processing

    An SAP Concur blog post notes that most small and midsize business AP teams handle around 600 invoices per month, at least half of which are paper invoices. Invoices may pass through as many as 15 people before approval for payment. According to an IDC white paper, AP teams deploying Concur Invoice reduced time spent on invoice management tasks and manual processes by 34% and accelerated average time to pay vendors by 51%, equivalent to $511 for every 1,000 invoices processed. The article also highlights Schmetzer's Sporthaus's experience streamlining AP processes with Concur Invoice.

  9. SAP Concur Blog

    How SMBs Build Resilience Through Spend Visibility and Control

    The article says small and midsize companies are hit harder in uncertain times because they hold less cash, and controlling discretionary spending is a key driver of cash flow. An AMI-Partners survey found 66% of businesses want to better track and analyze expense trends to cut costs, 63% want integrated spend management for better cash flow visibility, and 72% want improved operational efficiency and productivity. Concur Invoice users report saving an average of US$42,000 annually and 148 hours per accounting team per week.

  10. SAP Concur Blog

    SAP Concur: 3 Ways Channel Partners Deliver Long-Term Value in a Cloud-First World

    A SAP Concur blog post outlines how channel partners can deliver long-term value to SMB customers in a cloud-first world. Concur launched its Solution Provider co-sell program in July of last year, and more than 300 partners have joined. The post offers three recommendations: build a portfolio of cloud services, invest in continuous training to improve knowledge retention, and help customers maximize their cloud technology investments. The central argument is that partners must shift from transactional models to a continuous-value approach spanning pre-sales, sales, and post-sales to build multi-year revenue streams and customer loyalty.

  11. SAP Concur Blog

    SAP Concur: Automated Expense Management Key to Finance Efficiency

    A SAP Concur blog post cites a commissioned Forrester Consulting study finding that nearly two-thirds of surveyed SMB financial leaders picked managing expenses/cash flow as their top financial challenge. The study shows SMBs' key expense and travel challenges focus on user-induced errors and long time requirements. Smaller businesses (1-499 employees) called out time requirements for paperwork and approvals as their top challenge, while larger businesses (500-999 employees) gave a small edge to inaccuracies caused by human error. Surveyed businesses considered improved process efficiency the most important benefit of automated expense and travel solutions. More than three-quarters of SMBs…

  12. SAP Concur Blog

    SAP Concur: Duplicate Invoice Payments May Cost SMBs $12,000 a Month

    Based on invoice data from September 2015 to August 2016, SAP Concur says duplicate payments are a common and preventable error in accounts payable. Its SMB customers (up to 1,000 employees) process about 450 invoices in a busy month, with a 1.29% duplication rate—roughly six duplicate invoices monthly—and an average duplicate value of $2,034, implying about $12,000 in potential monthly outlay if paid in error. Concur Invoice matches invoice details to identify duplicates and can be configured to alert or automatically halt processing.

  13. SAP Concur Blog

    SAP Concur: It's Time to Let Go of Your Expense Tracking Spreadsheets

    A SAP Concur blog post discusses the limitations of using spreadsheets for expense tracking in small businesses. It states spreadsheets lack version control, leading to inconsistent and inaccurate data; make it hard to quickly draw conclusions; are prone to small errors in data entry or formulas that balloon into larger ones; can't provide historical views to spot trends; make data aggregation a nightmare; and lack flexibility and scalability. It recommends considering a purpose-built expense management system and offers best practices for finding suitable software.

  14. SAP Concur Blog

    SAP Concur: Don't Get Blown Away by Manual Expense Processes

    A SAP Concur blog post states that manual, paper-based expense report processes can take hours, with employees spending large portions of their days digging through receipts and manually inputting expenditures, while finance departments review and reconcile reports. It cites SMB Group data: 30% of SMBs support telecommuting for 20% or more of employees, 18% expect the percentage of telecommuting workers to increase next year, 57% say 20% or more of their workforce travels for work, and 14% expect this number to increase next year. It recommends SMBs choose a scalable mobile expense system like Concur Expense, where employees simply photograph receipts.

  15. SAP Concur Blog

    Six Questions to Ask Before Going Global

    This SAP Concur blog post lists six questions businesses should consider before expanding internationally: market advantages, regulatory hurdles, local needs, product fit, assumptions (like internet speed), and readiness to start over. It emphasizes that cloud-based tools can help small businesses handle tax and compliance, and suggests hiring local experts to navigate cultural and legal differences.

  16. SAP Concur Blog

    SAP Concur: How Usable Technology Affects T&E Management Efficiency

    A SAP Concur blog lists five reasons business technology should be easy to use: productivity, IT time savings, less shadow IT, cost control, and reduced employee frustration. It cites a Samanage survey saying U.S. companies waste $2 trillion annually on outdated technology, with 25.4% of workers saying company technology and policies hurt productivity and nearly 31% of millennials agreeing. It suggests surveying employees to identify which technologies to simplify first.