Control Company Costs
Concur Expense ROI Review: Why walk when you can run?
Ever jumped off a dock into a lake, but insisted your friend goes first so you know how cold the water is? We often look to the experience of others to inform our own decisions. In fact, when growing a business, it can be a risk management superpower. With that in mind, we’re sharing the ROI of Concur Expense as reported by our customers.
Granted these insights won’t give you the ability to leap tall buildings in a single bound, but we do like to think of them as giving you x-ray vision into the real-world value of spend management automation. Let’s dive in.
Expense management solution must-haves
When we talk with finance and IT leaders, we begin by asking them what they’re looking for in a cloud-based expense management solution. Business requirements tend to be specific to each company, however, there are some must-haves that bubble to the surface.
Today’s business leaders look for a proven solution that:
- Provides employees with an easy-to-use mobile app to capture and approve expenses on the go
- Pre-populates expense reports from e-receipts, scanned receipts, and credit card data
- Identifies potential errors and out-of-policy expenses in real-time when creating an expense report
- Allows for configurable approval workflows based on employee or spend type, spend purpose, amounts, etc.
- Offers out-of-the-box integrations to ERP and accounting software
- Includes configurable reporting and trend visibility across employee groups and spend categories
- Uses intelligent technologies to generate insights, guide actions, and improve decisions
Concur Expense checks off all these requirements and more, but you likely already knew that. And hey, if not, feel free to take a Concur Expense self-guided demo.
The real question is not what our proprietary AI-powered technology can do, however, but rather what measurable benefits these capabilities provide.
Boost efficiency, productivity, visibility, and control
Our customers include over 48,000 businesses of all types and sizes. Each are looking for ways to boost operational efficiency, employee productivity, spending visibility, and control over costs. In other words, they don’t want their business to merely walk, they want it to run. We help them do just that.
After automating, our Concur Expense customers report1:
- 43% reduction in misplaced receipts
- 32% reduction in the time taken to approve expenses
- 50% less time to reimburse expenses
- 65% more compliant expense reports submitted
- 26% reduction in budget overspending because of increased visibility into spending data
And for those of you who prefer the bottom-line number, our customers say it took only 7 months to pay back on their initial investment and resulted in a three-year ROI of 628%.
Feel free to use these stats when building your own business case for automation. And if you would like some expert guidance, download our buyer’s guide on Choosing the Right T&E Solution for a Small-to-midsize Business.
It’s time to build business momentum with Concur Expense
Talk to us today about your specific business needs and to learn more about how the best run with SAP Concur solutions. Jump on in, the water’s fine.