The Hidden Costs of a Bad Expense Process

A SAP Concur blog post outlines the hidden costs of a sluggish, manual expense process. Relying on paper and spreadsheets leads to back-and-forth communication among finance, employees, and managers, with every claim requiring manual validation and approval. Paper receipts get lost and manual data entry invites errors. Employees delay submissions due to tedium, hurting cash flow, and reimbursement averages nine days from approval. The post also notes that without automation, companies miss spend-analysis opportunities, while automated systems can reduce expense submission complications and errors by 36%.