Keeping a close eye on spend has always been critical to a company’s success. And if we’ve learned anything from the past year, it’s that staying on top of cash flow is key to navigating uncertainty and change. On top of all this, the hybrid work-from-anywhere model – which was gradually evolving – has suddenly become the new norm.
As an SAP Concur solution user, you already know that manual, error-prone expense management processes – whether scanning and e-mailing receipts, filling out expense reports in spreadsheets, or chasing after manager approvals – are a waste of time and money. But if you’re only managing expenses digitally, that still means busy work, mistakes, and rework for business travelers, procurement teams, accounts payable, and others. Plus, your finance team is stuck consolidating and reporting on disparate data from multiple places, depriving them of the total insight they need to identify rogue spend before it happens and spot trends that could help improve budgeting company-wide.
In short, fully digitalizing your spend management can help your entire business run better – improving productivity and your bottom line.
Luckily, SAP Concur solutions are here to help – again.
By adding solutions for invoicing, travel management, mileage tracking, and more, you make life easier for finance and accounts payable as well as employees in every business unit. Not only are these processes automated with company policies built into every transaction, users can manage them from anywhere with the SAP Concur mobile app. And robust analytics tools improve spend visibility for business leaders across your organization.
Take the executive overview dashboard, for example, which provides a near-real-time view of key spend metrics across your business. This tool gives leadership an operational overview of critical processes by employee and department and enables deep spend analysis to help identify spending trends over time. It also allows you to see every aspect of spend by category and pinpoint ways to reduce costs – whether by improving vendor contracts or taking better advantage of discounts and promotions.
Another great example is the expense accruals report, which lays out all outstanding expenses that may be missing from reports or awaiting approval. This helps you monitor spend, predict future cash requirements, and identify process gaps that could be costing you money.
Other tools, such as the mobile metrics details report, provide insight into how your people are using SAP Concur solutions – helping you promote wider adoption, optimal usage, and maximum value for your technology investment.
In addition to making work and life easier for periodic users across your organization, SAP Concur solutions are, not surprisingly, a huge asset to the people who use them daily. Whether it’s procurement managers, accounts payable, or IT, there are ample resources to help your people get the most out of what digital spend management has to offer. Monthly client admin training sessions and intelligence reporting consultants are available to provide information on the latest and greatest features – so you never miss out on new tools, reports, strategies, and shortcuts.
Plus, because all SAP Concur solutions integrate with each other and with most major ERP and finance tools, they can help you better manage budgets company-wide. In fact, managers can even see how a particular expense or invoice is going to impact their budget before they submit an approval.
There has never been a better time to find out how digital spend management can empower your whole business.
Get started by reading our checklist on ways to optimize and extend your SAP Concur solutions. Then contact your client success manager to learn more about how to maximize on your SAP Concur solution investment and your client sales executive to explore additional SAP Concur solutions. Or just visit us at www.concur.com to discover all the ways that SAP Concur solutions can help your people and your company thrive in the new world of work.
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