SAP Concur: How AI Will Transform T&E

SAP Concur published a blog on AI applications in travel and expense (T&E) management. It cites IDC data that 45% of businesses see opportunities for AI to improve payments, expense management, and analytics. SAP Concur's Verify uses AI to automatically audit expense reports, and ExpenseIt reduced returned reports from 14% to 1.2%. In 2022, $1.6 billion in spending exceptions went unexamined, while Verify automatically audited 97% of 2.8 million reports between January 2022 and June 2023.