Concur Vendor Payment

On-demand travel content blended with expense reporting that shatters the way business travel expenses are managed.

Eliminate paper while reducing costs

Nearly 80% of all vendor invoice activity is still 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 see processing costs – as high as $58 per invoice – drop 91%. They also see 46% shorter process cycle time, 12% fewer late payments and 30% less time responding to inquiries.

Manual, error-prone process 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 that result in missed opportunities for early payment discounts and increased late fees, impeding Treasury’s ability to optimize cash flow
  • Overdue payments that increase the volume of vendor inquiries and rushed, emergency payments slowing AP efficiency and strained vendor relationships that can get in the way of employees getting their work done

On-demand service provides visibility and control

Concur Vendor Payment automates the tedious and manual process of capturing, submitting, approving and paying vendor invoices. With Concur Vendor Payment, companies can quickly process invoices and eliminate the paper flood into your company. Web-based with an intuitive user interface – complete with robust workflow, multi-electronic imaging methods and reporting capabilities – Concur Vendor Payment enables any organization to automate the entire process, providing accurate analysis of employee spend while improving process audit-ability.

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

  • High invoice processing costs. Concur Vendor Payment significantly reduces the costs of processing invoices by automating the collection, submittal, and tracking of vendor payments.
  • Long 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 approvals and customized audit rules monitor compliance, eliminating common areas for fraud, mistakes and misuse.
  • Lack of reporting. Concur’s proactive, real-time reporting approach offers complete visibility into spending.

Concur Vendor Payment is flexible enough to meet the needs of any organization’s payment process, delivering powerful imaging, workflow and approval capabilities using nothing more than a Web browser. Concur Vendor Payment can also assist Accounts Payable with the on-boarding of new vendors via an automated employee request and approval process. This ensures that all required vendor information is captured and is always accurate and available for tax and regulatory purposes.

Take a Tour

Concur makes it quick and easy to automate your entire vendor payment process. Gain immediate access to a 5 minute tour! See today how automating your non-PO payment process with Concur Vendor Payment can save your organization time and money.

*Aberdeen Group

"