SAP Concur blog explains how to calculate business cash flow, emphasizing its importance for financial health. It highlights that travel and expense (T&E) directly impacts cash flow, and lack of compliance controls can lead to fraud and leakage. Spend management automation improves compliance, simplifies taxes, and enhances invoicing, thereby improving cash flow visibility.
SAP Concur's blog discusses business cash flow management and financial forecasting tools. It notes that 82% of small business shutdowns are attributed to poor cash flow. Centralized spend management software can improve visibility, cash flow analysis, and forecasting. Specific strategies include sending invoices promptly, offering early payment discounts, negotiating supplier rates, scrutinizing inventory, instituting payment plans, and leveraging VAT refunds. Technologies like AI and automation streamline processes and improve efficiency.
The annual AP trends and predictions report from Ardent Partners, sponsored by SAP Concur, shows that 74% of AP departments planned to use artificial intelligence in some way by the end of 2024, a record-high adoption rate. AI and AP automation are improving invoice processing, fraud detection, forecasting, and cash flow management while freeing AP staff to focus on exceptions. The report also notes that AI risks must be addressed through governance and security controls, and that geopolitical conflicts and tariffs could raise prices and inflation, increase global invoicing complexity, and disrupt supply chains. It predicts that 80% of routine tasks will be handled by AP automation within t…
SAP Concur explains what a cash flow statement is and why it matters: cash flow is the net balance of cash entering and leaving a business at a specific point in time, flowing out when inventory is bought and in when customers buy products. Rent, utilities, payroll, and bank and credit card fees make cash flow complex, and credit terms and financing can push payments later. A cash flow statement typically has three sections—operations, investing, and financing—and can be prepared using the direct or indirect method. The article also lists strategies to improve cash flow, including customer credit checks, leasing instead of buying, early-payment discounts, better inventory management, prompt…
This SAP Concur blog post explains the differences between fixed and variable expenses and their impact on cash flow. Fixed expenses like rent and insurance remain stable, while variable expenses like raw materials and business travel fluctuate with activity. It offers strategies such as renegotiating contracts, optimizing inventory, and using automation to detect fraud, aiming to enhance financial resilience.
SAP Concur published an article detailing how to create a business financial plan. A financial plan is a forward-looking projection of income and expenses that helps determine cash flow, financing needs, and timing for new initiatives. The article outlines core elements including income statement, balance sheet, personnel plan, business ratios, sales forecasts, cash flow projections, income projections, assets and liabilities, and break-even analysis, and provides four key steps to create a financial plan.
An SAP Concur study of global senior finance leaders found that 90% agree preparing their business for the unexpected is a critical task today, while only 2% disagreed. The article proposes four resolutions for finance leaders: innovate to control costs, compliance, and cash flow through a unified platform and AI; strengthen visibility, analysis, and planning; adapt processes, policies, and priorities; and boost morale, productivity, and retention. It also covers automated indirect tax recovery such as VAT, integrating travel and expense data, and mobile expense reporting.
SAP Concur published an article introducing its new integration with virtual card platform Extend. According to Vantage Market Research, the global virtual card market is expected to triple by 2030. By embedding Extend's virtual card functionality into Concur Invoice as a payment option, businesses can pay invoices easily, quickly, and securely using their existing corporate credit card, with no need for a new card, contract, or settlement process. Virtual cards are temporary digital subcards of traditional credit cards with unique card numbers, limited validity periods, and set spending limits, reducing fraud risk. Businesses can automatically generate virtual cards linked to their existin…
An SAP Concur blog post notes that according to 2022 customer data, the volume of expense reports in December was 20% higher than the rest of the year, putting pressure on finance teams and increasing the risk of late reimbursements. The article offers three tips: plan ahead and identify process bottlenecks; clarify expense policy and set cutoff dates; and use automation to improve processing efficiency. SAP Concur's Expense Payment Manager can automate payments to employees and corporate card partners in 25 currencies.
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.
A SAP Concur blog post analyzes five key challenges facing CFOs: talent recruitment and retention, supply chain issues, complex employee benefits, improving cash flow, and financial forecasting and planning. 53% of CFOs want to increase agility to better operate in a turbulent business environment. Gartner predicts 78% of CFOs will increase or maintain enterprise digital investments through 2023. The post recommends finance automation, data integration, advanced analytics, and AI to address these challenges, citing data that SAP Concur customers realized 11% cost savings.
SAP Concur released a checklist for selecting accounts payable automation solutions, noting that manual invoice capture, auditing, routing, approval and payment steps are error-prone and time-consuming. Amid economic uncertainty, fully automating AP processes can improve efficiency and spending visibility. The checklist advises evaluating whether solutions can automatically match purchase orders, invoices and payments, use AI and machine learning for accuracy, and provide a near-real-time cash flow view.
A SAP Concur blog post notes that automating accounts payable reduces paper and manual entry, fewer lost invoices and late fees, more early pay discounts, increased efficiency, and a more accurate cash flow view. It cites data: invoice processing time decreased by 82% to 3.1 days per invoice, cost per invoice decreased by 80% to $2.78, and invoice exceptions decreased by 59% to 9%. Another study shows companies with automated AP process 64% more vendor invoices monthly, over 66% of teams reported cost decreases, with average savings of 20%. The article suggests building the case with efficiency and savings data plus a 'what's in it for you' strategy.
A SAP Concur blog post examines how companies handle invoices that fall outside their procurement system, such as those from utility providers, marketing, catering, and events. It recommends capabilities including pre-spend authorization, automated invoice scanning, automated early payment to capture supplier discounts, and mobile approval to control costs, ensure compliance, and improve cash flow.
The article notes that SMBs face challenges including improving employee productivity, cash flow, and visibility. Travel and expense is the second largest controllable area of business spend, and automation can help address these issues. However, more than 70% of small businesses say lack of IT expertise causes them to delay implementing IT solutions. The article cites DRC Capital, a 16-person company, as an example that small businesses can also benefit from automation, achieving faster processing, time savings, greater employee satisfaction, and cost savings.
In an AP Recognition Week post, SAP Concur notes that accounts payable (AP) is often the last line of defense for small and midsize businesses (SMBs) managing cash flow. Many AP teams still handle paper invoices with convoluted workflows and non-disaster-proof storage. The post states that most SMBs it works with process around 600 invoices per month, at least half arriving as paper, causing heavy manual data entry, approvals, and reconciliation. SAP Concur recommends cloud-based AP tools such as Concur Invoice to automate invoice receipt, processing, payment management, and settlement, enabling faster audits, better cash flow management, and increased spend visibility.
SAP Concur blog emphasizes that small businesses need year-round financial visibility, not just at year-end. It highlights common pitfalls: neglecting cash flow, not chasing late payments, assuming data accuracy, failing to review prices, and compliance risks. Automating financial processes reduces errors, improves compliance, and enhances cash flow management.
SAP Concur states that managing cash flow is about clear visibility into where money goes. By automating expense and invoice processes, organizations can reduce manual errors, improve accuracy, and make more informed spending decisions. The post recommends automating expense management for near real-time spend visibility, eliminating manual entry, human error, and compliance blind spots; and automating expense audits and invoice-to-PO validation to control spend before money leaves accounts. SAP Concur says its cloud solutions connect spending data from suppliers and credit providers, automatically audit transactions, apply spending controls, check for duplicate invoices, and provide detail…
SAP Concur cites AMI-Partners research showing automated spend management improves cash flow, compliance, and efficiency. The survey shows 67% of businesses lack cash flow visibility, while automated solutions save time and improve compliance.
A SAP Concur blog post for SMB finance leaders discusses spend management best practices for maintaining business resilience in uncertain economic conditions. Citing an Oxford Economics survey of small businesses, it notes many SMBs adopted some form of digitization, but some remain on manual paper processes or partial automation, leading to workflow roadblocks, spend visibility gaps, and compliance issues. Suggested building blocks of resilience include streamlined processes, clear policies, up-to-date spend visibility, employee support, and cost control. The post states automating expense and AP processes can deliver real-time spend views, eliminate paper receipts, auto-populate expense r…
SAP Concur cites a May 2021 Oxford Economics survey of over 500 senior business leaders across seven countries, finding increasing agility is the top goal but culture change and digitizing manual operations remain challenges. Among businesses that digitized expense, invoice, and cash flow management, 43% cite increased agility and resiliency from digitizing AP, 42% cite increased productivity from digitizing expenses, and 35% cite increased functional collaboration from digitizing cash flow management. AMI-Partners research found SMBs saved $30K annually with automated expense solutions and $34K with invoice solutions; Concur customers saved $39K annually with each solution. ACFE estimates…
SAP Concur blog post describes how Concur Invoice solution improves AP management through automation. Citing IDC white paper data, it shows companies using Concur Invoice achieved average annual benefits of $662,700, reduced invoice processing time by 75%, improved AP staff efficiency by 45% and auditing staff efficiency by 40%, with an average payback period of four months and a 634% three-year ROI.
SAP, in collaboration with Bain & Company, outlines six strategies for building business resilience through digital finance transformation: scenario planning, strengthening working capital, improving spend visibility, finding cost savings, eliminating low-value work, and planning for new ways of working. It emphasizes automating expense and invoice management and integrating with ERP systems to provide real-time data and analytics for cost control, cash flow optimization, and future planning.
A SAP Concur blog post says AI has entered the workplace, helping save time and reduce paperwork, for example by replacing paper receipts and tedious manual data entry with automated travel and expense management tools. A.G. Lambert, SVP of product strategy at SAP Concur, says "AI doesn't replace employees, it augments them." The post mentions a partnership with Forbes examining how technology improves business processes, highlighting AI-assisted auditing, travel policy bots and tools that improve cash flow management.
The article offers advice for small business owners to manage project budgets to prevent overruns and cash flow issues. Tips include: scope the project carefully and communicate clearly, budget realistically with contingency, check in on the budget regularly, and make it a habit. Automating expense and invoice management makes tracking costs and budgets easier.
The article discusses how AP automation complements ERP systems by providing near real-time reporting, automated payments, and greater accuracy. Concur Invoice uses OCR and human validation to ensure data accuracy, supports mobile approvals, and integrates with ERP to optimize cash flow.
In collaboration with Telegraph Spark, SAP Concur offers five recommendations for post-pandemic recovery: focus on cash flow, learn lessons from the pandemic, address inefficiencies, develop new business models, and look after talent. The article emphasizes digitalization and automation for cost control and remote work.
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.
A SAP Concur blog post cites an Oxford Economics survey in which 81% of leaders say they would benefit from concentrating more on efficiency and cost control. The post offers four recommendations: emphasize cash flow early, facilitate internal collaboration, focus on cost visibility and efficiency, and consider automating spend management. The study notes that a clear view of costs can limit waste and redundancy, free up executives and employees, and improve flexibility and resource allocation.
A SAP Concur blog post examines the potential benefits of invoice management automation for small-to-midsize businesses (SMBs) in accounts payable (AP). Citing AMI-Partners, it notes the typical SMB works with 190 suppliers and vendors, generating 2,280 checks annually if one check per vendor per month; 42% of surveyed SMBs report invoice reconciliation errors; and accounting/finance staff spend 14% of their time each week processing invoices. The post states automated invoicing solutions yield average annual savings of US$34,000 and US$11 per invoice, and promotes Concur Invoice and its ROI calculator.
A SAP Concur blog post argues that controlling spend and optimizing cash flow can help companies of all sizes be more resilient, but manual expense management processes make that elusive. It cites a 2020 Oxford Economics survey of 2,000 small and midsize businesses: almost all respondents plan to shift manual finance processes into the digital realm over the next few years; 45% expect to increase efficiency by minimizing error, risk, and cost, 43% expect to boost productivity via transformation and intelligent process automation, and 40% expect to free up employees for higher-level tasks. The post promotes Concur Expense features such as customizable expense policies, expense visibility, an…
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 discusses common budgeting and cash flow challenges for business owners, including surprise employee expenses, late payments, and travel spend control. It recommends expense report automation, invoice process automation, and automated travel solutions to improve financial visibility, avoid late fees, maintain credit scores, and better manage employee travel and duty of care. It cites Statista data that 43% of US business travel managers expect an increase in business travel this year.
A SAP Concur blog post notes that many accounts payable processes appear automated but still rely on faxes, scanned images, and manual steps. It describes four common scenarios: centralized vs. decentralized capture, semi-automated approval workflows, ERP module limitations, and insufficient payment optimization. True AP automation should be entirely paperless, with all invoices received electronically and all communication around approvals or matching issues in a single system. The article recommends assessing automation levels and considering specialized solutions.
SAP Concur lists five things AP teams didn't sign up for: tedious manual invoice processing, being overwhelmed by paper invoices, lacking authority to fix broken processes while being scapegoated, feeling ignored, and working weekends to approve invoices. The post states most SMBs have two to four AP professionals processing hundreds or thousands of paper invoices monthly. Manual processes cause difficulty tracking spending, incomplete documentation, duplicate data, poor cash flow visibility, and slow approvals. SAP Concur recommends invoice automation to cut processing time, free teams for spend analysis and cost-saving, and claims automation saves companies tens of thousands of dollars an…
A SAP Concur blog post argues companies should invest in digital spend management. Shari Lava, research director at IDC, says the manual way is not working, and Bryan Ball, director of research at Aberdeen, says visibility into spending information can make a difference in survival. The article notes paper-, email-, and spreadsheet-based processes are untenable under remote work, and digitalization enables automated approvals, faster reimbursement, real-time spend analytics, and ERP integration.
SAP Concur published an article recommending that businesses automate accounts payable invoice management to avoid cash-flow problems and achieve business growth. It cites a white paper by AMI-Partners in partnership with Concur, stating that automation tools enable businesses to save $1,100 for every 100 invoices and reduce invoice processing time by 16% a week. The article also uses baseball and toothpaste analogies to emphasize the importance of precisely understanding cash flow and controlling costs.
A SAP Concur blog post explores industry benchmarks for accounts payable efficiency, noting that delayed payments can lead to finance charges, poor vendor relations, credit rating downgrades, and supply chain disruptions, while paying too early impacts cash flow. It introduces the 'time-to-pay' metric and recommends keeping overall time-to-pay between two days to approve and three days to pay. It also lists best practices including configuring audit rules, integrating card feeds, automating receipt capture, and automating payment processes.
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.
The SAP Concur blog highlights a study by Oxford Economics and SAP Concur that surveyed 500 finance and IT executives worldwide, 350 of whom came from companies with 1,000 or more employees. The study found that large global enterprises often struggle harder than smaller companies with expansion challenges, as scale and complexity make more data, invoices, and administration difficult to handle. It identifies visibility into spending and attention to cash flow as pillars of successful growth, and argues that investing early in digital finance transformation to automate spend management makes sense.