2020 has been an exceptionally volatile year for business.
The COVID-19 pandemic has shaken global economies in ways we have not seen for nearly a century. Some businesses have prospered while others struggle. Whatever your situation, keeping a close eye on costs and staying on top of cash flow have never been more important to long-term stability and success. In order to make quick decisions about how to mitigate challenges and maximize on opportunities, your finance and accounting teams need deep insight into every aspect of your company spend. And the only way to give it to them is by digitalizing the way you manage company spend.
Luckily, from travel to expense and vendor invoice management, SAP Concur solutions and services have got you covered.
To pass these tests (notice we didn’t say “ace”), finance leaders will need:
- Best practices for decision-making in the current environment.
- Instant data and insights.
- Adaptable policies that simplify spending processes for faculty, staff, and vendors.
- Smarter, better tools with which to forecast and plan for the future.
If the past year has taught us anything, it’s that business success depends on being able to operate anytime, anywhere. With record numbers of employees working remotely, manual and error-prone paper-, e-mail, and spreadsheet-based processes no longer make the grade. With SAP Concur solutions, your company spend management processes are integrated, automated, and accessible on any device. No more saving paper receipts, typing in data from invoice documents, and following up with managers about approvals and reimbursements. Plus, with the ability to control user actions based on your internal policies, statutory regulations, and workflow requirements, you can quickly flag noncompliant spending, identify waste, and automatically guide users to make spending choices that are good for your business.
Even if you have partially automated the way your process and manage company spend, consolidating data that is still being gathered manually and integrating data from multiple systems is time consuming for finance teams and leaves blind spots in your overall spend visibility. Not only do SAP Concur solutions fully integrate with each other, they also integrate with more than 50 of the most-used ERP and accounting systems –empowering finance teams with the holistic spend insight and control they need to drive smart spend strategy. Not only can you run ad hoc analysis on spending data by category, vendor, team, or employee, you can use that information to plan, forecast, and reforecast as sales fluctuate and new opportunities arise. And, to keep things simple, more than 200 standardized reports are available to answer the most critical and common spending questions.
In addition to unifying and automating your spend management data and processes and providing detailed spend insight, SAP Concur solutions come with our deep commitment to customer success. Customers get 24/7 access to live support to resolve issues and our specialists are available to help ensure you are getting the most out of your SAP Concur investment. This includes providing industry-specific best practices and tips, advice for managing new regulatory requirements, integration support, and help with expanding solutions to accommodate global growth, mergers, and acquisitions. We are continually consulting with our more than 45,000 customers in 150+ countries to develop new features and product road maps. And, we welcome you to hear about it all and connect with our expert and customer community at the annual SAP Concur Fusion event.
With 25 years of experience, SAP Concur solutions are a clear leader in the spend management technology market. In fact, a recent study by AMI Partners shows significant time and cost savings with SAP Concur solutions when compared to similar offerings.
On average, when compared to our major competitors, SAP Concur solutions lead to:
- 25% greater cost savings on travel and expense management (US$40,000 per year)
- 16% more time saved on travel and expense management (122 hours per week)
- 21% greater cost savings on invoice management ($42,000 per year)
- 35% more time saved on invoice management (148 hours per week)
In a world where mandated lock-downs, new health regulations, supply-chain disruptions, and drastic spikes or drops in demand can suddenly impact your business, there has never been a better time to get control over your spend.
Read our latest paper to learn more about how SAP Concur solutions can bring innovation, simplicity, and clarity to your travel, expense, and invoice management processes. Then contact us to start preparing to conquer today’s business challenges and gain the financial insight you need to stay resilient and thrive – no matter what the future brings.