SAP Concur Outlines AI Applications in Spend Management
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The post provides data on AI adoption rates and knowledge gaps among finance and travel teams, useful for companies assessing spend-management automation investment and training needs, though the data comes from a vendor blog.
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- SAP Concur BlogSAP Concur Outlines AI Applications in Spend Management
SAP Concur published a blog on generative AI applications in travel and expense management. It cites survey data: 51% of CFOs are investing in AI technology, up from 15% in August 2023; 58% of CFOs have very little knowledge about AI and only 4% are confident they have a strong grasp of it. The post says 34% of travel managers feel constrained by expectations to implement AI tools without adequate training, and only 7% of AP teams currently use AI. SAP Concur says it has integrated AI and machine learning into its solutions for over a decade and lists four application areas: automation, compliance, fraud detection and spend analytics.