Key terms in spend management

Comparing an organization’s performance metrics, such as cost per trip, approval cycle time, and exception rates, to internal history or external peer groups to identify potential improvements.

An SAP Concur solution that helps review budgets to assist companies in finding new ways to save money and spend efficiently.

The reservation of flights, hotels, and anything else a traveler may need before a business trip.

Software that incorporates various travel-related tools, including booking, expense reporting, and compliance tracking, into one platform for easy trip management.

The measurement and monitoring of emissions, either by an individual or an organization. Businesses use this to guide sustainability commitments and emissions traffic.

The monitoring and reviewing of funds entering and leaving a business to ensure stability and long-term profitability for an organization.

The practice of using forecasting, reimbursement cycles, and policy-driven spend controls to align the inflow and outflow of a company’s cash and ensure liquidity while minimizing costs.

Software applications hosted by a vendor with remote servers, rather than installed on a company’s hardware. The vendor manages maintenance, security, and scaling, giving companies on-demand access to high-tech software.

An SAP Concur technology backed by a global team of professional auditors to ensure compliance, identify fraud, and reduce workload for entire workforces.

An AI‑powered SAP Concur expense auditing solution that flags anomalies, duplicate submissions, and out‑of‑policy spending before reimbursement. It is embedded in Concur workflows, conducting automated checks, reducing manual audits, and accelerating claims.

An add-on feature of the SAP Concur mobile app that automatically tracks driving distance using GPS. It allows for easy documentation, reporting, and reimbursement of distance driven. 

An expense management solution that brings all expenses into one place and automates the process from receipt capture to approval, improving visibility and reducing the risk of fraud or duplicate spending.

An invoice management solution that automates accounts payable across the entire invoice management process, using machine learning to prevent overpayments, reduce fraud, and provide visibility into supplier spending.

A travel management solution that synchronizes travel data in one place, giving employees an easy way to manage bookings and allowing companies to maintain duty of care and gain a full picture of spending.

A payment card issued to employees for authorized business expenses, serving as an approved way to make work-related purchases without spending out of pocket.

An expense management feature where company-issued credit cards are directly linked to expense management software to automate data entry and enhance visibility.

The framework outlining how an organization operates ethically, strategically, and transparently. It encompasses the internal policies, approval hierarchies, and audit trails that keep spending compliant with internal company standards, as well as external auditors and regulations.

The technologies, systems, and processes an organization uses to manage and limit spending. They ensure money is spent within company policy and in accordance with budgets. 

The ability to synchronize data between different software regardless of vendor or technology stack. It preserves seamless workflows and enables cohesive software ecosystems with consistent information.

The policies, technologies, and legal frameworks used to protect an organization’s sensitive data from misuse, unauthorized access, or loss. Cloud-based platforms must follow these regulations to ensure data is secure.

The process of ensuring information is consistent between multiple systems. This eliminates discrepancies between financial records, employee data, and reporting tools to support informed decisions.

The process of replacing manual or legacy business processes with modern software to improve efficiency, reliability, and decision making, allowing organizations to scale without heavy administrative overhead.

An expense management software feature that identifies and removes repeated expense entries, counteracting human error and ensuring company expense policy compliance.

The responsibility of every company to ensure the safety and well-being of employees on business trips.

Reports submitted by employees to document business-related purchases and request reimbursement.

Compensation provided by an organization to its employees for out-of-pocket expenses from business-related costs such as travel.

The connection between enterprise resource planning (ERP) systems and other software that allows data to be exchanged freely, replacing manual work with a more accurate and efficient workflow.

A complete evaluation and examination of expense reports to verify accuracy and expense policy compliance. It is used to identify fraud and ensure illegitimate claims are not fulfilled.

The intentional misrepresentation of business costs in the form of duplicate claims, falsified receipts, or personal spending submitted under a business. It often results in fines, disciplinary action, and reputational damage.

The process of tracking, controlling, and reimbursing business-related spending by employees. It includes establishing policies, approving expenses, and keeping records for accounting and compliance.

The process of ensuring employee spending is compliant with company regulations prior to reimbursement.

The process of capturing, submitting, validating, approving, and reimbursing business expenses. 

Technology that identifies non-compliant expenses within reports, invoices, or financial records using AI and rule-based checks to flag duplicate or fraudulent activity. 

The following of the General Data Protection Regulation (GDPR), a European Union framework that regulates how the personal data of EU residents is collected, stored, and shared.

The process of ensuring business operations, financial reporting, and employee behavior follow the laws and regulations of every region a company conducts business in.

The synchronization of employee data between a human resources information system (HRIS) and ERP software to ensure all HR information is aligned automatically, reducing manual administration.

The consulting and technical services that configure, integrate, and deploy solutions to meet business requirements and ensure user adoption.

Methods used to identify and combat fake invoicing, including validation checks and anomaly detection.

The process by which a company receives, verifies, approves, and pays supplier invoices.

Invoices that violate company or regulatory requirements due to incorrect tax, unauthorized suppliers, or other policy breaches, resulting in administrative issues, payment delays, and fines.

An aspect of invoice management that involves extracting data and integrating payments with accounting systems to help track and manage company expenses.

The process of matching supplier invoices to purchase orders and receipts to verify accuracy before payment. It can detect and flag discrepancies in price quantity and tax to ensure compliance.

The recording of distance traveled for business purposes to inform reimbursement and tax reporting.

The ability to access expense management software from a mobile device, allowing users to capture, submit, and approve business expenses remotely.

An expense management software feature allowing users to photograph and upload receipts with a mobile device for accessible expense reporting.

OCR is a technology that automates data entry by converting text within images or PDFs into digital data.

A company’s ability to deliver quality products or services with minimal wasted time and resources.

Expenses that violate company policy, such as purchases that exceed spending limits, trips booked outside of approved vendors, or missing proofs of purchase. 

A company-issued payment card used to buy supplies, subscriptions, or tools in the organization’s name at preferred vendors. It allows employees to spend within approved limits while giving the company real-time cash flow visibility. 

How clearly a company can analyze how and where funds are used.

A daily stipend designated to cover expenses incurred by employees during business travel, including meals, lodging, airfare, and incidentals.

The process of obtaining authorization from a manager or other approver before booking business travel.

The continuous improvement of workflow to achieve faster, more accurate outcomes at lower costs.

The end-to-end process of purchasing goods and services, from requisition to payment.

A formal request from an employee to purchase goods or services that includes the quantity, business justification, and other relevant details.

An expense management feature that enables users to photograph and upload paper receipts for digital expense tracking.

The process of converting paper receipts to digital versions for simplified expense reporting.

The adherence to laws, standards, and government regulations related to business operation, including responsible handling of data, financial reporting, and anti-bribery, and resulting in penalties and legal liability for noncompliance.

The process of identifying and reducing potential threats to an organization's reputation, finances, or operations.

An app enabling users to easily manage travel and expenses from any mobile device, allowing them to plan trips and submit and approve expenses from anywhere.

Integrated spend management tools connecting travel, expense, and invoice processes into one platform to provide real-time insights, automated workflows, and added spend control.

The connection between SAP Concur solutions and SAP S/4HANA that synchronizes travel, expense, and invoice data for unified financials and controls.

The process of reviewing past expenditures, such as invoices and POs, to identify patterns and opportunities for future saving.

Rules that direct how employees purchase, travel, and expense on behalf of a company, defining thresholds, categories, preferred suppliers, and documentation standards to control spending and reduce risks.

The practice of reviewing expenses to ensure they follow organizational policies before issuing reimbursement, helping prevent unauthorized spending and reducing fraud risk. 

The consideration of a company’s environmental, economic, and social impact to support its long-term success. 

The practice of making responsible choices to reduce environmental impact when traveling for work.

Tax and regulatory compliance refers to the adherence to laws and standards around business spending and reporting, including accurate tax calculation, proper data retention, and audit readiness. 

The process of reclaiming eligible taxes paid on business expenses, including value-added tax (VAT) and goods and services tax (GST). 

An invoice verification process comparing the purchase order, the supplier's invoice, and the goods receipt to ensure correct payments. 

The process of tracking and controlling business travel and employee expenses.

Greenhouse gases produced through business travel such as flights, taxis, and even hotel stays.

The process ensuring business travel bookings made by employees adhere to company and governmental policies. 

The coordination and tracking of trip details including flights, hotels, ground transport, and schedule changes.

A submission sent by an employee for approval by a manager or other party prior to booking business travel, allowing companies to ensure trips are planned within policy and budget.

The proactive measures an organization takes to protect employees on business trips.

A premium travel itinerary management service that organizes trips into a single, live schedule, with real-time flight updates, alternative flight finders, and fare refund monitoring to reduce travel disruption and improve traveler experience.

Settings applied to a specific user denoting what features they can and cannot view or edit within a software system. It keeps sensitive company information safe by limiting access.

Transactions made to suppliers for any goods or services required by an organization.

The use of software to run routine tasks and approvals automatically.