SAP Concur Shares Expense Management Benchmarks to Boost Workforce Productivity
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This content provides quantifiable expense management efficiency benchmarks, helping finance and travel managers assess their processes and identify improvement areas, potentially influencing corporate card program design and expense policy adjustments.
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- SAP Concur BlogSAP Concur Shares Expense Management Benchmarks to Boost Workforce Productivity
SAP Concur article states that many customers have observed an uptick in workforce productivity by encouraging corporate card usage and leveraging automation tools to submit, review, approve, and pay expenses. It provides expense workflow benchmarks: if employees take longer than 22 days to submit an expense, managers longer than two days to approve, and accounts payable longer than three days to pay, adjustments to policies and timelines may be needed. Best practices include implementing card feeds, reviewing expense workflow reports, soliciting feedback, adjusting policies, and educating teams.