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

[Emilylusuegro]

Hello, Concur Community!

Did you know 64% of global finance leaders report that they’re under pressure to control costs and get the most from their resources? Are you surprised by this stat?

Let’s discuss! Ask Me Anything about how Concur Invoice can help your organization control costs and optimize their resources.

Don’t forget to check out our guide for more insights.

Link to the guide

Join the conversation!

[ChrisW]

Hi,  I am an Admin for the Concur Travel Program (concursolutions.com) at our agency, and I’m currently working on reconciling a few purchases that may have been made by one of our buyers. These purchases were made using a virtual card, which means any authorized buyer could have used it.

Could you please let me know if there is a tool or method available that would allow me to cross-reference and identify the buyer who made these purchases?

[KevinD]

@ChrisW hello there. I'm not aware of any tool to help in identifying who made the purchase. Have you reached out to the vendors where the purchase was made? 

Since it is a virtual card with many people having access, unless the vendor where the purchase was made asked for some personal information from the buyer, I don't know if you will be able to find out who made the purchase. 

How many people have access to the card? 

[astevens]

Hello SAP Concur Community!

Did you know that 80% of organizations have reported being victims of payment fraud attacks/attempts? Additionally, 44% of organizations consider expense-related fraud a significant threat to their financial performance.

Check out this resource to learn more about these staggering fraud statistics!

Are you wondering if you could be doing more to protect against financial loss? If the answer is yes, let's talk it out! I'm here to answer your questions on how SAP Concur Invoice can help prevent AP fraud and financial loss. Ask Me Anything!

Looking forward to chatting!

Thank you,

Aaron S

[Emilylusuegro]

Let’s Bust Some AP Myths!

Hey Concur Community!

Did you know that the top-performing AP teams process invoices and payments 60%–80% faster than their peers? 🤯

That stat surprises a lot of people—and it’s often because common misconceptions about AP automation deter businesses from investing in the technology, leaving them behind the competition. 

👉 Check out this infographic on busting AP automation myths and tell us: What AP myth have you heard—or believed—that turned out to be false? 

Got questions about how Concur Invoice can help your team work smarter, not harder? Drop them below!

Let’s myth-bust together!