Among the most important business processes a company deals with on a day-to-day basis, managing invoices is very close to the top of the list. Businesses often receive thousands of invoices each day and processing them all requires time, effort, and resources.
Given how critical invoice management is to fiscal health, why are so many businesses trusting this process to manual methods like spreadsheets or paper invoices?
Businesses with an automated accounts payable process save on paper, computing resources, and vendor fees from lost invoices and human error. Furthermore, IT staff and accountants save time when they no longer have to pull data together from fragmented sources.
With Concur Invoice, your organisation can:
By eliminating manual data entry and switching to a fully automated, cloud-based AP process, you can cut costs, save time, and cut down on data capture errors. Concur Invoice lets you capture invoices electronically using optical character recognition (OCR) technology, uses two- and three-way matching to pair the PO to its associated invoice, then accurately records it to your AP system.
Easy-to-use web-based and mobile applications help you to streamline your AP processes, from on-the-go authorization to supplier payment. With the SAP Concur mobile app, you can match invoices with purchase orders, track progress of submitted invoices, and expedite approvals and payments—anytime, anywhere.
Business intelligence tools give you greater visibility into how employees are spending and help you better forecast cash flow, time payments, and identify additional vendor savings and discounts allowing you to make intelligent decisions with your financial data. You can also see when accounts were reconciled, run accounts payable aging reports, and get insights you need to make better business decisions.
Concur Invoice integrates with any ERP or accounting system and connects with solutions from other vendors across the procure-to-pay lifecycle. You can also tailor your solution to handle your company’s unique AP workflows and policies.
CFOs in growing companies face more challenges than ever before. Manual processes are time-consuming and increase processing costs. Automating accounts payable (AP) can help CFOs meet those challenges head on. The best AP automation solutions provide visibility, reclaim time, and are business-ready. With engaging mobile interfaces that increase employee adoption, modern solutions bring PO and non-PO spend together in one place.
Download the whitepaper
Whitepaper: Connecting the dots on travel, expense and invoice spend
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