Make Data-Driven Decisions Using Opportunity Cost Analysis

SAP Concur blog introduces the opportunity cost analysis framework to help businesses optimize resource allocation. It explains the formula and typical scenarios like capital investment, product development, time management, and technology adoption. By quantifying the sacrifice of each decision, companies can evaluate true costs, especially under tight budgets. Using travel and expense management as an example, it shows how automation reduces opportunity cost, citing survey data: integrated platforms increase policy compliance by 26%, save 21% in costs, and double expense report processing efficiency.