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.
Impact and considerations
AI in expense auditing and compliance may reduce corporate T&E management costs and improve compliance efficiency, influencing product strategies of expense platforms and TMCs.
Key points
- IDC data shows 45% of businesses see opportunities for AI to improve payments, expense management, and analytics.
- SAP Concur's AI technology has underpinned its travel, expense, and invoice solutions for 10 years.
- Verify uses AI and machine learning to automatically audit expense reports, identifying duplicate receipts, out-of-policy spending, and incorrect dates.
- Adopting ExpenseIt reduced returned expense reports from 14% to 1.2%.
- In 2022, $1.6 billion in spending exceptions went unexamined by finance teams.
- Between January 2022 and June 2023, Verify automatically audited 97% of 2.8 million reports, leaving only 3% for human audit.
- AI can help finance teams analyze trends, optimize budgets and travel policies, and assess ROI of business trips.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 16 Aug 2023, 22:13
- Page published
- 14 Aug 2026, 08:21
- Last updated
- 16 Aug 2023, 22:13
- Original links
- SAP Concur Blog：From Back Office to Tip of the Spear: How AI Will Transform T&E (opens in a new tab)Primary source · en · Published 16 Aug 2023, 22:13