Level Up Spend Management to Exercise Fiscal Responsibility and Minimize Waste for Education
SAP Concur article targets higher education and K-12 school districts, emphasizing assessment of pandemic-era digital fixes. Spend management platforms provide real-time visibility, budget control, and improved employee experience. Data shows T&E spend violation rate skyrocketed 292% from 2019 to 2020. Median loss of occupational fraud in education is $56,000. Adopting integrated platforms can save $777,000 annually on travel and expense reporting, increase compliant reports by 65%, and reduce errors by 52%.
Impact and considerations
This article provides best practices for spend management in education, emphasizing the importance of digitalization and automation for fiscal responsibility and waste minimization, relevant for suppliers and the industry.
Key points
- T&E spend violation rate skyrocketed 292% from 2019 to 2020.
- Median loss of occupational fraud in education is $56,000.
- Integrated platforms can save $777,000 annually on travel and expense reporting.
- Compliant reports increase by 65% and errors reduce by 52%.
- Finance-IT collaboration improves agility by 47%, productivity by 43%, and spend visibility by 37%.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 9 Jul 2022, 00:40
- Page published
- 14 Aug 2026, 08:33
- Last updated
- 9 Jul 2022, 00:40
- Original links
- SAP Concur Blog：Level Up Spend Management to Exercise Fiscal Responsibility and Minimize Waste for Education (opens in a new tab)Primary source · en · Published 9 Jul 2022, 00:40