When it comes to managing business travel, expenses, and invoices, SAP Concur offers a suite of integrated solutions designed to automate these processes for businesses of all sizes. With 30 years in the industry, SAP Concur aims to provide uncomplicated and efficient experiences for both employees and organizations. Here’s what you need to know to determine if SAP Concur is the right fit for your business in the Philippines.
What is SAP Concur?
Cloud-based services offered by SAP Concur streamline the handling of invoices, expenses, and travel. The software lowers the labor and expenses related to accounts payable, streamlines corporate travel scheduling, and unifies all expense data. The SAP Concurs digital platform offers corporate insights, enhances employee experiences, and automates tedious operations.
Key Features and Benefits
Expense Management
SAP Concur solutions offer a unified platform for end-to-end spend management by integrating all of your travel, expense, and vendor invoice spending into a single system. For all users, this integration streamlines the process, increases compliance, and provides more insight into transactions. You can maximize your investment by integrating SAP Concur with your current systems for accounting, travel, and expenses.
The platform offers connections with ERP systems’ accounting components. By merging travel, expense, invoice, and credit card data analytics into a single business intelligence solution, it offers a unified, transparent perspective of spending. Existing HR, payroll, finance, and CRM systems can be connected to SAP Concur solutions. Using pre-made apps or unique integrations via open APIs, this produces a linked spending solution.
Travel Management
SAP Concur provides a single corporate travel platform that streamlines employee booking and guarantees adherence to corporate travel guidelines. Travelers save time and effort by using SAP Concur to streamline planning and booking by offering a single point of access to travel alternatives. By incorporating travel regulations straight into the reservation process, the software makes sure staff members follow corporate standards regarding approved procedures, spending caps, and preferred vendors.
It’s integrated compliance controls assist businesses in enforcing travel regulations and cutting down on spending that is not permitted by them. Additionally, it provides real-time insight into trip expenditures, facilitating improved budgeting and cost control. Businesses may make well-informed decisions to maximize their travel programs by using the platform’s reporting and analytics features, which offer insights into vendor performance, travel trends, and cost-saving potential. Travelers now have more supplier alternatives and the booking process is faster thanks to SAP Concur’s updated and more intuitive user interface.
Invoice Management
SAP Concur automates tasks, reduces manual effort, and minimizes errors, resulting in cheaper expenses. Automating AP helps eliminate errors, duplicate invoices, and missing paperwork. Manual invoice processing might take up to 9.5 hours per invoice. SAP Concurs AP automation streamlines the AP process by minimizing manual effort and providing a clear digital paper trail, making it easier to audit payables transactions.
The software electronically captures invoices using OCR technology, then pairs the PO with its related invoice using two- and three-way matching before precisely recording it in your AP system. Businesses may increase cash visibility and spend more wisely by automating invoice administration and digitizing AP procedures from start to finish.
Automation
SAP Concur Benefits Assurance, powered by Blue dot, leverages AI and machine learning to automate the complex process of identifying and managing taxable employee benefits (TEBs). This automation streamlines the tracking, reporting, and calculation of TEBs, ensuring businesses comply with ever-changing tax regulations and avoid potential audits and costly penalties. By automatically extracting hard-to-find benefits from expense reports, SAP Concur Benefits Assurance simplifies back-office processes and reduces the burden on HR and finance teams.
This innovative solution integrates company policy with national, regional, and local regulations to accurately track reports. With detailed dashboards and reporting tools, organizations gain insights into employee benefit usage and associated expenses, supporting data-driven decisions and optimizing spending24. SAP Concur Benefits Assurance helps businesses reduce compliance risk, gain a deeper understanding of policy decisions, and ensure accurate and efficient management of taxable employee benefits
Spend Visibility
SAP Concur provides end-to-end visibility into company spending by integrating travel, expense, and invoice data into a single, unified platform. This comprehensive view allows businesses to track and analyze spending patterns, identify cost-saving opportunities, and make informed decisions to optimize resource allocation. With real-time insights into spending, organizations can proactively manage budgets, negotiate better vendor contracts, and reduce unnecessary expenses.
SAP Concur’s reporting and analytics tools provide detailed insights into spending across different categories, departments, and business units. This enables companies to identify areas where they can improve efficiency, reduce waste, and drive better business outcomes. By turning data into actionable intelligence, SAP Concur empowers organizations to make strategic decisions that enhance profitability, improve cash flow, and achieve their financial goals. This spend visibility creates opportunities for innovation, growth, and ultimately, turns moments of insight into moments of success.
Why Choose SAP Concur?
SAP Concur prioritizes customer satisfaction by tailoring solutions for businesses of all sizes. It enhances productivity both in and out of the office, aligning employees and management on spending strategies. The platform delivers data-driven insights, offering access to all travel data for better future planning, irrespective of booking sources. SAP Concur also provides greater control and enables timely intervention for effective cost management.
With an improved, more intuitive user experience, the platform speeds up the booking process and expands supplier options for travelers. SAP Concur gathers customer feedback to drive change and help users focus on what’s important. Customer experience strategies involve understanding customers, creating personalized interactions, and fostering innovation.
Key Takeaway
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