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SAP Concur: The Power of Spend Analysis and How to Implement It

A SAP Concur blog post says that amid economic uncertainty and inflationary pricing, finance leaders are seeking more efficient spend management strategies. A SAP Concur study shows 90% of global senior finance leaders said there is a critical need to prepare their businesses for the unexpected. The post covers the definition, benefits and implementation steps of spend analysis, including defining objectives, identifying data sources, centralizing data, cleansing and normalizing data, categorizing spending, analyzing and monitoring, and acting on findings. It also recommends taxonomies such as UNSPSC or ECLASS and emphasizes automation and cross-functional collaboration.

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Impact and considerations

The post offers a systematic implementation framework for spend analysis, helping finance and travel managers identify savings, improve supplier negotiations and enhance compliance under cost pressure.

Key points

  • 90% of global senior finance leaders said there is a critical need to prepare their businesses for the unexpected.
  • Spend analysis involves collecting, categorizing and analyzing spending data to find cost-saving opportunities.
  • Implementation steps include defining objectives, identifying data sources, centralizing data, cleansing and normalizing data, categorizing spending, analyzing and monitoring, and acting on findings.
  • Taxonomies such as UNSPSC or ECLASS can be used to categorize spending.
  • Recommended metrics include percentage of spending with preferred suppliers, ratio of direct to indirect spending, supplier contract compliance and noncompliant spending.
  • Automating spend analysis improves speed, reliability and accuracy, and helps identify noncompliance or potential fraud.

Sources and time

Primary source
SAP Concur
Other sources
0
First source publication
7 Jun 2024, 20:17
Page published
14 Aug 2026, 08:14
Last updated
7 Jun 2024, 20:17
Original links
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