Concur Invoice

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Concur Invoice

Concur Invoice is a market leading, on-demand invoice processing software solution that automates the process of managing invoices.. Where else can you find a robust invoice imaging and workflow solution paired with the market-leading travel and entertainment solution? With Concur Invoice you can automate key components of employee spend and integrate them with other company expense processes. That’s why Concur is the industry leader in Employee Spend management.

Reduce Invoice Processing Costs

Nearly 80 percent of vendor invoice activity is paper-based*. So if you’re like most organizations, your A/P department is drowning in paper. A recent Aberdeen study found that companies who automate invoice processing observe:

• Overall costs drop as much as 91 percent
• 46 percent shorter invoice process cycle time
• 12 percent fewer late payments
• 30 percent less time spent responding to inquiries

These benefits were even seen in companies with invoice processing costs starting as high as $58 per invoice!

Manual Invoice Processing is Costly

Manual, error-prone invoice processes aren’t only expensive and inefficient, they expose your organization to:

• The risk of non-compliance with GAAP, SOX, and other internal controls and audits
• Unnecessarily long cycle times, causing missed opportunities for early payment discounts, increased late fees, and impeded ability to optimize cash flow
• Overdue payments, increased volume of vendor inquiries, and rushed emergency payments. All of which slow A/P efficiency, strain vendor relationships and prevent employees from completing objectives

Manual invoice processing is not only expensive in terms of direct cost, but it can cost valuable relationships, reputation and employee morale. To eliminate these risks you need robust, automated invoice processing software that’s easily implemented and allows you to control these risks. You need Concur Invoice.

The Solution: Gain Visibility and Control of your Invoice Payment Process with Concur Invoice.

Concur Invoice automates the invoicing process of capturing, submitting, approving and paying vendor invoices. Concur’s web-based invoice processing software with its intuitive user interface – complete with robust workflow, multi-electronic invoice imaging methods and reporting capabilities – enables any organization to automate the entire invoicing process, providing accurate analysis of employee spend while improving the ability to audit vendor payments.

Experience Automated Invoice Processing and Savings.

Concur Invoice allows companies to quickly process vendor payment requests, solving common problems including:

• High invoice processing costs. Concur Invoice significantly reduces the costs of processing invoices by automating the collection, submittal, and tracking of vendor payments.
• Long invoice payment process cycle time. The vendor payment and check request process cycle time is significantly shortened with Concur's easy, quick and efficient automated solution.
• Poor control and compliance. Concur’s robust workflow manages invoice approvals and customized audit rules monitor compliance, eliminating common areas for fraud, mistakes and misuse.
• Lack of reporting. Concur’s proactive invoice data reporting approach offers complete visibility into spending.
• Accidental or unauthorized payments. Concur Invoice uses a parallel invoicing process to ensure that you maintain control over vendor payment and approval without losing precious invoice processing time.

Concur Invoice can also assist A/P departments with new vendor on-boarding via an automated employee request and approval process, ensuring that all required vendor information is captured, accurate and available for tax and regulatory purposes.

Learn more about Concur Invoice

Concur makes it quick and easy to automate your entire vendor payment process. View our self-paced product tour or to watch a short intro video demo see how automating your invoice management process with Concur Invoice can save your organization time and money.

Already a Concur client?

Congratulations! You’re already experiencing what automation can do for other parts of your business. Concur Invoice is simply another piece of the Employee Spend Management picture. Imagine how adding Concur Invoice to your invoice management process will help you maximize control over all employee spend in your organization. To learn more, explore our resource center for webinars, whitepapers and videos about Concur Invoice and the whole Employee Spend Management process. Click here to visit the Resource Center.

*Aberdeen Group