Concur’s mission is to drive costs out of businesses through innovation. Here’s a new client case study that demonstrates how one company uses Concur to help them streamline processes, reduce costs and increase visibility into data.
A highly sophisticated biomedical technology company and global leader in its field was finding it difficult to manage expenses using its existing internal systems. To address this challenge the company overhauled its ERP system and adopted Concur® Travel & Expense to help manage their employee spend. Within six months of implementing Concur, the company cut both the cost and the time of processing reports roughly in half. Automating the expense reporting process has virtually eliminated errors, a persistent problem with the manual system, due to the complex nature of their business.
“One of the most helpful components of the system is the reporting we get with Concur® Intelligence,” says the company’s Global Finance Manager. “The information we need about who is spending what, where and when is at our fingertips any time we need it. We plan to create a corporate travel policy and enforce standards that will definitely help us achieve even greater savings.”
Some of the benefits this biomedical device company has realized include:
- Slashing the cost of processing expense reports by 50 percent to support a highly competitive bottom line.
- Cutting the time it takes to process expense reports in half, transforming back office operations.
- Reimbursing employees twice as fast, boosting morale and helping ensure adoption among heavy travelers.
- Eliminating costly errors with an automated process while also helping to ensure compliance.
- Significantly increasing control over expenses and gaining enhanced visibility through powerful reporting.
Achieving rapid return on investment (ROI), coupled with superior visibility into travel spend, has convinced company leaders to rollout a corporate card and institute further travel policies to strengthen control and boost the bottom line.
“Implementation was well above average, actually pretty impressive,” says the company’s Global Finance Manager. “This is a tool that can help [organizations] realize substantial savings and significantly improve back office operations. We have seen rapid and remarkable results.”