Have you lost track of your employee expenses and therefore, unable to manage your finances? Are you still largely depending on spreadsheets, which make the entire expense management process slow and inefficient?
It’s time you upgrade to a better process that automates all your expenses, thus saving your time. As business owners, we all look for ways to cut down the costs and carry out various operations faster. We constantly search for solutions that would save us a good deal of time. Thus, allowing us to focus on essential business functions – SAP Streamlines Core Business Processes.
SAP Concur is one such solution that enables users to manage all their expense workflows and streamline their finances with their business policies. With Concur Expense, you can reduce manual errors that often concur with manual data entry, which further increases accuracy and efficiency.
Introducing SAP Business One
To make Concur solutions even better and more powerful, you can integrate it with SAP Business One (or SAP B1), which is a great offering from the company, especially for SMEs. The solution is designed to improve your business cash flows, optimise your supply chain, and gain complete control over your business.
With the primary aim of automating core business functions including financials, human resources, and operations, SAP Business One comes with 15 functional modules. These modules cover typical business functions including Financials, Sales, Purchasing, Business Partners, Banking, Inventory, CRM, Administration, Production, Project Management, and many others.
In other words, SAP Business One is a single application that eliminates complex integration processes of multiple modules. One doesn’t need to opt for separate point solutions as businesses can get a comprehensive solution in this all-in-one business management platform. The best part is you will have the flexibility of installing SAP B1 either in the cloud or on a server.
Advantages of SAP Business One Integration with Concur
Being a busy business owner, you need to save time on your expense management processes, including submission, approval and analysis. With this combined solution, you can automate all your financial operations and stabilise your cash flows more easily. Together with Concur, SAP B1 can offer end-to-end resources that you can use for your business, irrespective of its size.
Using this industry-leading solution, you can:
- Make faster payments and make your suppliers and employees happy.
- Improve the productivity of your employees, allowing them to focus on only what’s important.
- Eliminate the hassles of duplicate payments using an improved and more accurate solution.
- Reduce time wasted in manual data entry tasks, which are often prone to human errors.
- Manage automated deployment of your company policies and guidelines, thus offering greater compliance.
- Gain complete visibility of your entire company expenses, right from the pre-planning processes to the final payment settlements.
- Make more strategic decisions using the actionable insights offered.
- Automate business processes and get a unified and true picture of your company’s information.
- Streamline end-to-end operations and access highly accurate business data.
- Gain better control over all your business functions and focus on company growth.
- Respond to market demands and trends with greater agility, thus boosting profitability.
- Create journal entries and invoices automatically using SAP B1 whenever a payment workflow or reference has been closed in SAP Concur.
WATCH: SAP Business One and SAP Concur – Better Together
More points:
- Have transparency in the entire process and ensure successful financial postings.
- Perform data exchange monitoring starting from master data replication, monitoring spending data to processing feedback.
- Acknowledge the receipt of your documents and send a posting error or acknowledge message.
- Schedule the process of retrieving expense reports from the Concur process queue.
- Remove repetitive data entry and boost employee expense workflows.
- Create AP expenses automatically using SAP B1.
- Synchronise cost centre lists, such as Business Unit, Client, Department, Project Activities, Support Tickets, etc.
- Reduce operational costs and increase profits and efficiency.
Also Read: SAP Business One Integration Hub
3 Key Benefits of SAP Business One Integration with Concur
Who Would Benefit from this combined solution?
SAP Business One is suitable for small and medium-sized businesses that have an annual turnover of less than 150 million and work with a maximum of 500 employees. The typical verticals of this solution are retail, wholesale, manufacturing, distribution, and professional services.
Furthermore, SAP Business One is ideal for organisations that want to have a more upgraded financial software package for meeting all their accounting requirements. Using this easy-to-use and affordable business management solution, SMEs can have complete visibility over their key business areas. Hence, manage all their day-to-day operations seamlessly.
You can capture all your essential business data in one central location. Thus, allowing you to track your expenses and other functions quicker and more accurately. It makes it easier to access business data in real-time. Which in turn enables owners and managers to make faster and better-informed decisions.
Current Business Challenges and the Solutions
SAP Business One offers high scalability since you can use it either in the cloud or as an on-premise application. Either way, it has the potential of transforming your business and maximising efficiency and reaching out to new customers. Also, since one part of this solution is based on the cloud, you can monitor all your data in real-time from any device or platform.
If you are looking for a solution that enables you to make smarter and data-driven decisions for your business, SAP Business One is for you. It ensures to keep all your data safe and secure, thus saving internal IT or app management costs. Besides, with this system, you can drive profit and business growth quicker. It’s time to focus on your core business processes and leave the rest on this efficient solution.
Conclusion
In a nutshell, SAP Business One integration with SAP Concur has enabled SMEs to manage their expenses and other core business functions smoothly. You can not only improve the productivity of your employees but also get the maximum job done within less time and costs.
Using this affordable and effective solution, you can ensure the success of your business by ensuring that everybody is complying with your company policies and guidelines. This, further, helps business owners like you to optimise your expenses and detect all cases of fraud or unauthorised spend.
