SAP Concur blog cites IFOL report showing 77% of organizations still manually enter invoices, only 7% fully automated. AI adoption is accelerating with 19% using and 30% planning within a year. Embedded AI reduces manual work, improves efficiency, and allows finance teams to focus on strategic tasks.
A SAP Concur blog post says AI, automation and virtual payments are transforming spend management, making expense processes more integrated, automated and secure. It describes Concur Expense using ExpenseIt for photo-based automatic entry, itemization and categorization, and a Mastercard integration that auto-populates corporate card purchases. It also mentions an Extend virtual card integration embedded in Concur Invoice for invoice payments. Vantage Market Research expects the global virtual card market to triple by 2030.
SAP Concur published a blog outlining resources and collaboration opportunities in its public sector community for professionals in regulated industries. The community offers dedicated industry groups for federal, state, and local government, higher education, government contracting, and healthcare, helping members discuss challenges, share best practices, and refine their organizations' travel, expense, and invoice policies.
The SAP Concur blog discusses challenges faced by higher education finance departments in remote work environments, including unexpected expenses, a surge in invoices and reimbursement requests, and traditional policies that don't fit. The article emphasizes automation, integration, and digitization as key solutions, enabling streamlined workflows, AI-driven auditing, and real-time visibility to control costs and improve compliance.
SAP Concur published an article on how charter schools can use automated invoicing and expense management to address cost pressures from enrollment growth. It cites data: 1.2 million students enrolled in U.S. charter schools in 2006-07, over 6,900 schools in 2016, and over 3.1 million students in 2017. Automated invoice processes can help schools improve cash flow, control spend, and expand enrollment without adding staff.
The article addresses challenges faced by higher education institutions such as declining enrollment and budget cuts, proposing five ways to streamline invoice processes: integrate with existing systems, empower users with mobile devices, consolidate data, leverage staff strengths, and repurpose budgets. Automation can reduce invoice processing costs by up to 70%.
SAP Concur blog cites research showing finance automation saves significant time. Vanson Bourne survey found 46% of UK finance leaders cite errors as top challenge, 68% lack confidence in T&E compliance. AMI-Partners research found invoice management solutions reduce task time by 16% on average, and expense/travel solutions by 15%.
SAP Concur announced on April 17, 2019 the establishment of a China Development Center in Shanghai to develop and deliver end-to-end spend management solutions optimized for China's market. The center will strengthen capabilities in mobile, Fapiao, central billing and payments, with mobile innovations from China benefiting global customers. SAP Concur also enhanced its integration with Ctrip Corporate Travel to simplify pre-trip approval, booking and expense management. The company said it will expand its ecosystem with global and local partners to support Chinese companies operating locally and abroad.