What's Your Spend Management Costing You? SAP Concur Analyzes Automation Value
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The analysis provides finance and travel managers with data to quantify the costs of manual processes and the benefits of automation, supporting business cases for expense management digital transformation.
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- SAP Concur BlogWhat's Your Spend Management Costing You? SAP Concur Analyzes Automation Value
SAP Concur published an article examining the hidden costs of manual, paper-based expense management. It provides a formula for calculating cost per expense report and cites multiple data points: 81% of finance leaders admit to blind spots in travel, expense, and invoice spend; automation can reduce AP data entry time by 37% and invoicing errors by 33%; the typical organization loses 5% of annual revenue to fraud. The article also notes that organizations creating exceptional employee experiences see 17% higher productivity, 21% higher profitability, and 24% lower turnover.