If you are a business, you probably know the name SAP Concur. It is a great software solution which is widely used by companies or organizations for integrated expense, travel, and invoice management. But do you know what SAP Concur can do for you?
SAP Concur will be able to eliminate time-consuming tasks by simplifying finance processes. Also, it will give you transparency and visibility into your spend for making intelligent spend management decisions. Well, let us explore in more detail how SAP Concur is used.
1. Expense Management
SAP Concur will simplify travel expense reporting by enabling your employees to capture and submit their expenses. The system can extract information from receipts automatically, reducing manual data entry. Also, it allows your employees to allocate expenses to cost centers, enabling accurate cost tracking and analysis.
2. Travel Management
SAP Concur allows companies or organizations to manage all aspects of business travel. It integrates with travel booking platforms to consolidate travel bookings in one place. You can encourage your employees to make travel arrangements within the system. Then, you or administrators can access real-time travel data, including bookings, costs, and itineraries. When it comes to business travel, employees have their preferences. Automated travel booking solutions will make sure employees obtain fair rules. In addition, SAP Concur also eases finding fraud cases.
3. Policy Compliance
SAP Concur helps enforce your company expense policies by automating policy checks during the process of expense submission. It ensures that expenses adhere to your company policy. Thus, it can reduce the possibility of fraudulent claims. Also, it can prevent any damage to reputation that may occur due to non-compliance problems.
4. Approval Workflow
SAP Concur provides a configurable approval workflow for expense reports. As a manager or owner of the company, you will be able to review and approve expenses based on the company’s policy. Usually, approvers verify expenses and make adjustments before approving or rejecting the reports. By automating the approval process, SAP Concur gives some benefits such as reducing administrative burden, improving transparency, and accelerating reimbursement cycles.
5. Mitigating Risks
SAP Concur is used for mitigating risks. Remember that it is very crucial to maintain accurate data, mainly for your finance-related tasks. Here SAP Concur enables you to import feeds from various sources, including travel suppliers and corporate credit card providers. Thus, it means that all your data is really reliable.
6. Getting Mobile Optimized Solution
Through SAP Concur mobile app, you can encourage your employees to manage their travel and expenses anytime and anywhere. SAP Concur mobile app enables the users to capture receipts using their own smartphone’s camera, make expense reports, and submit them as attachments to their respective expense claims. Functionality of this SAP Concur mobile app will increase convenience and ensure timely expense reporting. Also, it can reduce the chances of misplaced receipts.
7. Reducing Implementation Costs
SAP Concur is used for reducing implementation costs. For your information, cloud solutions need minimal costs for implementation. And, it does not need any installation charges. SAP Concur is a web and mobile-based solution. It means that you will not require any additional infrastructure.
In conclusion, SAP Concur is a great software solution to simplify and optimize travel and expense management processes. By utilizing SAP Concur, the companies or organizations can reach greater efficiency, cost savings, policy control, and compliance in managing their travel and expense activities.