Getting to know Concur Invoice - Ask Me Anything

[astevens]

Hello SAP Concur Community! We are Solution Advisors at SAP Concur - Ask Me Anything!

Featured Experts in this AMA:

Aaron Stevens, Solution Advisor, SAP Concur

Emily Lusuegro, Solution Advisor, SAP Concur

We’re really looking forward to this AMA focusing on AP Automation and Concur Invoice.

Some SAP Concur Invoice topics that may be of interest include:

• Anything related to how Concur Invoice can streamline and automate the AP process
• How supporting products like Invoice Capture, Payment Manager, and Purchase Request take Concur Invoice to the next level
• Impact of automation and technology within Concur Invoice and its supporting products
• How Concur Invoice solutions meet specific business needs and scale as your organization grows
• How other customers are using Concur Invoice solutions today to maximize their ROI
• How to utilize Concur for pre-spending, visibility, and procurement

Feel free to start asking questions, and we will do our best to answer them in a timely fashion. Thanks!

[jthornburg]

Hello, a couple of quick questions about Invoice Payment Manager:

1. We currently use Bambora for payments, and almost all of our vendors are on ACH.  However, it currently takes about a week from submission for the payments to reach vendors' accounts.  Is Concur Invoice Payment Manager faster than that?
2. We're not wild about the payment card option.  Are we able to designate how our vendors are paid?

Many thanks...John

[astevens]

Hi John,

Hope all is well. Both Invoice Payment Manager and Invoice Pay use Worldline (formerly Bambora) as our partner to facilitate vendor payments. The current payment processing time is 5 business days. However, Invoice Payment does have some key benefits:

• Invoice enhanced with Invoice Payment Manager allows buyers to manage invoice payments via a central, single solution
• Manage invoices and schedule payments to further automate and innovate AP and Finance teams
• By offering configurable control over the timing, method and final release of batch payments, organizations can better manage payables cashflows, take advantage of new automation and further negotiate supplier terms
• Ability to use ACH, Virtual Cards, and Checks

The vendor's preferred payment method can be defaulted in the vendor's card. This will dictate the batch to which the invoice is routed for payment.

- Aaron S