What's Your Spend Management Costing You? SAP Concur Analyzes Automation Value

SAP Concur published an article examining the hidden costs of manual, paper-based expense management. It provides a formula for calculating cost per expense report and cites multiple data points: 81% of finance leaders admit to blind spots in travel, expense, and invoice spend; automation can reduce AP data entry time by 37% and invoicing errors by 33%; the typical organization loses 5% of annual revenue to fraud. The article also notes that organizations creating exceptional employee experiences see 17% higher productivity, 21% higher profitability, and 24% lower turnover.