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25 updates.

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Wednesday 29 June

25 updates
OTA / TMC
SAP Concur Blog全球

SAP Concur Partner Ecosystem: Collaboration Powers Travel and Expense Management

SAP Concur published an article on how its partner ecosystem helps businesses manage travel and expense programs in the remote work era. The ecosystem includes more than 700 partners spanning platform partners, travel suppliers, distribution partners, financial services, resale and service partners, and travel management companies (TMCs). The article cites an IDC report noting that the pandemic-driven increase in remote work is accelerating digital transformation, with companies expected to spend more on cloud-based solutions.

Payments & expense
SAP Concur Blog全球

SAP Concur: Improving Policy Compliance in an Era of Decentralized Employee Spending

The article notes that as spending becomes increasingly decentralized and employees are empowered to make more spending decisions, corporate risk rises, and the burden of managing compliance, internal policy, fraud, and employee safety increases. SAP Concur solutions audit more than one million expense reports per month. Companies using SAP Concur solutions achieved 28% improvement in auditing-staff efficiency, 62% increase in the number of employees following T&E policies, 67% reduction in lost receipts, and $672,000 in savings on business travel per organization.

Data & research
SAP Concur Blog全球

SAP Concur: Next-Gen Spend Management Has Arrived

A SAP Concur blog post cites a 2019 IDC survey of 800+ global executives. The survey found that for most companies, 40% to 45% of revenue goes toward spend; 90% of respondents reported room to improve spend control; 95% said they were likely to invest in intelligent spend management platforms in the next two years; and 60% were already talking with a technology vendor.

Payments & expense
SAP Concur Blog全球

The Perks of Paperless Invoice Processing

An SAP Concur blog post notes that most small and midsize business AP teams handle around 600 invoices per month, at least half of which are paper invoices. Invoices may pass through as many as 15 people before approval for payment. According to an IDC white paper, AP teams deploying Concur Invoice reduced time spent on invoice management tasks and manual processes by 34% and accelerated average time to pay vendors by 51%, equivalent to $511 for every 1,000 invoices processed. The article also highlights Schmetzer's Sporthaus's experience streamlining AP processes with Concur Invoice.

Data & research
SAP Concur Blog全球

SAP Grew Its T&E Software Global Market Share to More Than 54% in 2019, According to IDC

According to market intelligence firm IDC, SAP Concur had 54.1% market share in the travel and expense (T&E) management software market in 2019, and the total market grew from $2.0 billion in 2018 to $2.3 billion in 2019. The IDC report noted that public cloud adoption in T&E dominated, accounting for 83.9% of the market. The report also outlined seven key qualities of a modern T&E solution, including enhancing analytics capabilities, prioritizing user experience, and creating intelligent workflows.

Data & research
SAP Concur BlogUnited States

SAP Concur Survey: Remote Work Poses Productivity Challenges for US State and Local Governments

A survey commissioned by SAP Concur of 500 US state and local government finance and administration decision-makers found remote work poses productivity challenges for these departments. Only 11% of respondents said they have a fully automated platform allowing employees to track travel and expenses, and 39% said they have made no investments in expense and travel-related technology at all. 67% of decision-makers are managing three or more additional work tasks due to COVID-19, and 55% of governments have the added responsibility of redirecting funds for essential services such as public health and safety. 75% of respondents said COVID-19 accelerated their department's decision to invest in…

Payments & expense
SAP Concur Blog全球

SAP Concur: Transforming State and Local Government AP Processes to Control Costs

SAP Concur's blog notes that state and local governments face declining tax revenues and remote-work pressures during the pandemic, with manual invoice processes exacerbating difficulties. An IDC white paper found that organizations using Concur Invoice achieved average annual benefits of $662,700 ($3,258 per 1,000 invoices) and a three-year ROI of 634%.

Payments & expense
SAP Concur Blog全球

SAP Concur Lists High-Risk Expense Types, Urges Clear Policy to Curb Rogue Spend

A SAP Concur blog post says managing employee spend across growing categories and payment methods leaves room for error and non-compliance, creating mistrust, misuse and wasted time. It cites an IDC report finding 30% of executives are concerned with compliance to spend management policies in order to make strategic business decisions. Based on SAP Concur customer data, the post lists 14 high-risk expense types out of 29, including airfare, car rentals, entertainment, lodging, meals, meetings and tradeshows, mileage reimbursement, office supplies, rent, rail and telecom/internet, and recommends running your own high-risk expense list to prioritize auditing.

Payments & expense
SAP Concur Blog全球

SAP Concur: Auditing Types and Best Practices for Expense Audits

SAP Concur blog discusses three expense audit types: reactive, random, and 100% manual, citing an IDC report that Concur Invoice customers saw 46% more efficient invoice handling staff, 75% less invoice processing time, and 45% more efficient AP teams. It recommends optimizing audits by identifying exceptions, reducing exception trends, improving first-pass ratio, and increasing card adoption.

Payments & expense
SAP Concur Blog全球

SAP Concur: AP Automation and Cost Control in Higher Education

A SAP Concur blog post discusses accounts payable challenges facing higher education institutions during the pandemic: declining enrollments, student refunds, campus closures, and paper invoice backlogs from remote work. It cites an IDC white paper reporting that organizations using Concur Invoice saw average annual benefits of $662,700 ($3,258 per 1,000 invoices) and a three-year ROI of 634%.

Payments & expense
SAP Concur Blog全球

SAP Concur: Banks Need to Keep Pace with Customers' Accelerating Demands

SAP Concur argues that the current economic environment has magnified the need for companies to embrace digital transformation, and that corporate clients expect consumer-like user experiences from their banks. It cites IDC that the COVID-19 pandemic underscored the importance of digital transformation for staying agile. It suggests banks consider three things: co-innovation with SAP Concur, an easy and scalable single spend management platform, and extending reach to improve share of wallet, credit utilization, customer churn, and satisfaction. It says SAP Concur solutions serve more than 46,000 customers globally, helping them realize the full value of commercial cards and other payment s…

Payments & expense
SAP Concur BlogUnited States

SAP Concur Supports SMBs Through Uncertain Times

A SAP Concur blog post highlights the impact of the pandemic on SMBs and their resilience. According to an Aberdeen report, 24% of SMBs expect to remain in survival mode in 2021, 29% expect revenue growth, and 57% plan to resume business travel. SAP Concur's expense management solutions helped customers like CAF America and Genevant Sciences adapt to remote work. The article also mentions resources for SMBs, including free trials and partner integrations.

Payments & expense
SAP Concur Blog全球

SAP Concur Customers May Be Overlooking Process Efficiency

A SAP Concur blog post argues that automation alone does not capture the full value of spend management technology, and customers should focus on expense processing cycle efficiency from report submission and approval to payment. It cites IDC research finding accounts payable staff were 30% more efficient and audit staff 28% more efficient with an optimized SAP Concur solution. It also says optimization improves total spend visibility, increases corporate card rebates and reduces employee late fees.

Payments & expense
SAP Concur Blog全球

SAP Concur Publishes Guide to Choosing a T&E Solution

SAP Concur's blog published a guide to choosing a travel and expense (T&E) solution, citing IDC MarketScape and recommending that enterprises look for workflow automation, advanced analytics, conversational interfaces and APIs, and evaluate modern capabilities such as ecosystem support, data security, advanced payment methods and intelligent automation.

Payments & expense
SAP Concur Blog全球

SAP Concur Publishes Cheat Sheet for Choosing T&E Solutions

SAP Concur published a guide for selecting expense and travel management solutions, advising businesses to evaluate providers on product capabilities, provider experience and support levels, and long-term strategic planning. The article also cites the IDC MarketScape 2018 Vendor Assessment, in which SAP Concur was positioned as a leader.

Payments & expense
SAP Concur Blog全球

Improve Visibility and Cashflow with Intelligently Automated AP Management

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.

Data & research
SAP Concur Blog全球

IDC MarketScape 2018 T&E Management Apps: SAP Concur Positioned as Leader

The IDC MarketScape 2018 Worldwide Travel & Expense Management Apps Vendor Assessment evaluated nine travel and expense solutions and positioned SAP Concur in the leaders category. IDC highlighted SAP Concur's primary strengths, including extensive global support, a sophisticated travel booking app, acquired supplemental tools, a dedicated innovation division, built-in integrations with SAP solutions, and the most extensive app store devoted to travel and expense applications.

Data & research
SAP Concur Blog全球

Cloud-Connected Travel Can Save $2.78 Million

IDC InfoBrief shows cloud-connected travel saves significant costs: 49% less time on travel planning, 70% less time on expense reports, 35% more compliance, and 54% fewer lost receipts. Average business can save $97,000 in invoicing/auditing, $122,000 in travel-related costs, and $728,000 in improved staff productivity annually.

Payments & expense
SAP Concur Blog全球

SAP Concur: Now Is the Time to Digitalize Your Spend Management

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.

Payments & expense
SAP Concur Blog全球

Putting AI to Work in New Ways

This SAP Concur blog explores AI applications in travel and expense management. AI analyzes data, provides insights, automates processes, reduces errors, and enables predictive analytics. For example, AI can detect fraud patterns and optimize budget negotiations. IDC predicts AI-powered enterprises will see 100% increase in knowledge worker productivity by 2025. SAP Concur invests in AI to help customers improve efficiency.

Payments & expense
SAP Concur Blog全球

IDC and SAP Concur Release Travel and Expense Management Maturity Model

A SAP Concur blog post introduces a travel and expense management maturity model developed with IDC, dividing corporate spend management into five stages: legacy applications, automated point solutions, connected platform ecosystem, integrated application suites, and intelligent/predictive processes. The post notes legacy systems relying on spreadsheets and non-integrated systems risk untimely expenses, inaccurate accruals, and non-compliant spend, while the final stage uses predictive processes, machine learning-based fraud detection, and near real-time data visibility to increase business agility and resilience.

Payments & expense
SAP Concur Blog全球

Three Reasons to Adopt a Travel and Expense Management Solution: Simplicity, Safety, Spending

A SAP Concur blog post, citing IDC MarketScape research, outlines three business benefits of adopting an app-based travel and expense management solution. First, simplicity: employees can book and manage trips via mobile, with itinerary and credit card data consolidated, reducing paperwork and boosting productivity and engagement. Second, safety: the solution collects itinerary details from every booking channel and combines them with card transaction data to locate and reach employees in emergencies, fulfilling duty of care. Third, spending: full visibility into bookings and spend helps identify savings, track budgets, strengthen supplier negotiations, and support policy compliance, regula…