Businesses, especially in the travel and expense industry, are adopting cloud-based solutions for hastening their day-to-day activities and facilitating a seamless work process. They are constantly looking for advanced tools for enhanced productivity and cost-efficiency. Most importantly, cloud solutions boost team collaboration and allow everyone to remain on the same page.
About SAP Concur
SAP Concur is an efficient cloud-based service that enables users to automate and integrate expense, travel and invoice processes. This platform can streamline your business travel expense tracking and processing tasks, helping you to control your finances better.
Moreover, using this travel and expense management solution, businesses can handle complex procedures seamlessly, thus eliminating paperwork and errors. This saves your time and enables your team members to look into other business processes, thus boosting productivity. Besides that, SAP Concur lets you have full control over your organisation’s compliance and costs. You can manage your spends proactively using AP automation
Furthermore, this travel expense manager allows users to capture images of receipts and submit expense reports with ease. The best part is you can monitor your spending even before it’s spent. Additionally, users can easily catch duplicate invoices and adopt time-efficient methods of invoice tracking, mobile approvals, and faster payments.
WATCH SAP Concur Overview
The Components of SAP Concur
SAP Concur with its various tools and features have been helping businesses to cope with their day-to-day travel and expense challenges. The key solutions offered by Concur:
1. Concur Expense
With Concur’s expense management feature, businesses can track and take control of all their spendings from multiple sources. This enables them to make informed decisions by using accurate data, thus simplifying the entire process for all team members. Concur Expense allows you to:
- Track all your expenses in one place.
- Capture receipts and other process reports automatically.
- Enforce spending policies seamlessly.
- Reimburse your employees faster.
- Allow employees to review, submit, and approve expense reports via SAP Concur mobile app.
- Streamline expense management processes with e-receipts.
- Get a complete financial picture by integrating Concur with your ERP system.
- Track expense data accurately and securely.
- Reconcile business expenses via multiple card types.
2. Concur Travel
SAP Concur solutions are designed to handle complex travel procedures of today, while prioritising employees’ safety above all. Concur helps you to align your travel and expense policies with your current business needs, and lets you check what’s missing from your existing travel program. With Concur Travel, you can:
- Get accurate and comprehensive data for each traveller.
- Support your employees using location check-ins, TMC, HR profiles, insightful data, and Concur TripLink.
- Keep updated to the latest trends in corporate travel via Concur’s online travel booking tool.
- Track and manage your corporate travel program as per your preferences as Concur consolidates all travel data in one place.
- Get access to valuable content across various global distribution systems, direct connects, published and negotiated prices, and web-only fares.
- Gain useful insights into your travel spendings
- Monitor comparisons in corporate travel with the help of 25+ standard reports.
- Streamline business travel operations, including planning, expense reporting, and itinerary management using a mobile app.
- Control your travel expenditures with ease.
- View and manage direct and invisible travel bookings using Concur TripLink.
- Enforce internal travel policies to keep everyone compliant.
- Travel suppliers can send e-receipts automatically and directly to Concur Expense.
3. Concur Invoice
Concur Invoice is an efficient solution designed to help businesses reduce their average invoice processing costs by more than 80%. This cloud-based solution eliminates paperwork, duplicate or late payments, and delayed email invoices. With Concur Invoice, you can have a complete overview of your business cash flow while automating and monitoring your accounts payable management. It enables you to:
- Capture vital GST information and claim 100% refunds.
- Enhance vendor payment discounts using end-to-end AP automation.
- Control and manage purchase-to-pay cycles.
- Optimise your working capital to boost business growth.
- Increase your cashflows by more than 3X.
- Minimise security risks by ensuring compliance.
- Gain complete visibility into your financial components in real-time.
What Differentiates Concur?
Why SAP Concur?
SAP Concur allows you to mitigate risks, reduce costs, and improve compliance and security standards efficiently. Apart from managing travel expenses, you can take full control of your employee expense program. Some of the things you can do with SAP Concur:
● Automate Travel Expenses
With Concur’s end-to-end solutions, you can explore travel integration and prepopulate business travel information into expense claims. Therefore, this allows your employees to submit reimbursement claims more accurately and quickly.
● Track Unbiased Approvals
Different employees have their own preferences when it comes to business travel. Automated travel booking solutions ensure that fair rules are applied to every employee. Moreover, Concur also makes it easier for management to spot fraud cases.
● Improve Compliance
Concur enables you to update your policies on-the-go and flag all exceeded spend thresholds. This further prevents any damage of reputation that might occur due to non-compliance issues, which often lead to fine charges.
● Mitigate Risks
Maintaining accurate data is extremely necessary, especially for your finance-related tasks. SAP Concur lets you import feeds from multiple sources, including corporate credit card providers and travel suppliers, which means that all your data is totally reliable.
● Boost Productivity
With Concur’s cloud solutions, you can track and manage your expenses anywhere, anytime. Your finance team can monitor any unapproved expenses and get an insight into your upcoming cashflows. Moreover, the team can report the spendings across every department, and hence identify the excess areas.
● Get Mobile Optimised Solutions
Through SAP Concur mobile app, you can manage your travel and expenses efficiently. You can perform various actions on the move, such as taking the images of receipts and sending them as attachments to your respective expense claims.
● Have Steady Business Growth
As your business begins to grow, you will need more funding and managing your expenses might get a bit difficult. SAP Concur helps you to cope with complex regulations, expense claims and even multiple currencies, by offering a more scalable solution.
● Reduce Implementation Costs
Cloud solutions require minimal costs for implementation and eliminate any installation charges as well. SAP Concur is a web and mobile-based solution, which means you won’t need any additional infrastructure.
WATCH: How Linsy manages an event from end-to-end using SAP Concur tools to book travel, file expenses, manage her team, and follow her budget?
