Automated Credit Card Reconciliation: Big Returns for Small Businesses

A SAP Concur blog post aimed at small businesses examines the hidden costs of manual credit card reconciliation. It says out-of-policy spending and outright fraud can easily fly under the radar with manual processes, and risks multiply if multiple employees share a single corporate card or if personal credit cards are used for business expenses; the average time span fraud lasts before detection is 14 months, and 76% of cases are committed at the employee or manager level. It says SAP Concur users reported 32% less time to approve expenses, 13 hours saved per finance/accounting employee per week, $18 saved per expense report, and positive ROI in 8 months after automating the expense process.