Control Company Costs
How CFOs Work Less and Achieve More with SAP Concur Solutions
Concur Expense, Concur Travel and Concur Invoice are standalone solutions. But when you bring them together, they can help you achieve the priorities of every CFO:
- Connecting and consolidating spend to gain greater visibility
- Protecting the business with updated policies and enhanced controls
- Making savings and driving efficiency across the business
- Enhancing the employee experience with user-friendly hybrid working technology
The power of SAP Concur solutions to help you keep your business running at its best every day is something we explore in our latest eBook, Work Less Achieve More: Connecting Travel, Expense and Invoice Using SAP Concur Solutions.
Connecting Employee Spend to Enhance Visibility
Digital transformation is top of mind for finance. 48% of CFOs are seeking to accelerate digital transformation to drive standardisation and automation. And 49% of CFOs are seeking to capitalise on digital transformation initiatives.
Unlocking the benefits of digital transformation may be closer than you think.
Because if you have only automated travel or expense using SAP Concur solutions, there is still a lot further you could go.
For instance, getting a clear, complete and near real-time picture of spend will involve accessing at least two systems. Plus budget forecasting will take longer than you’d like because you lack easy access to spend insights across both travel and expense.
When you connect expense, travel and invoice data with SAP Concur solutions you enable more productive working and create a streamlined information flow, helping the business to run better.
Arla Foods uses Concur Expense and Concur Travel. The company’s Claus Buus Søgaard says: “For both the end user and the back office, SAP Concur gave us exactly what we needed. The mobile app proved especially useful and having one solution for all our travel and expense spend made our processes much easier to manage.”
Enhancing Spend Control and Reducing Non-Compliant Spend
53% of CFOs want to increase agility to better operate in a turbulent business environment.
But when your employee-driven spend is held in multiple systems, you face several challenges.
Cost saving is one of your key priorities, but when it comes to travel and expense it’s time-consuming to get the complete spend picture you need to make informed decisions.
Then there’s policy compliance. Policies may be applied inconsistently across travel and expense, which leads to compliance gaps. It is also more challenging to implement updated policies and enhanced controls that protect the business.
When you manage travel and expense with SAP Concur solutions, you gain more control over spend and have the tools you need to apply policies consistently.
When EDF Energy was looking for a solution to replace its highly manual corporate credit card reconciliation process, they chose SAP Concur solutions because they fitted the need for an easily configurable, web-based solution that met demanding time and cost constraints. Ian Widdows, the company’s Systems Support Manager, says: “We now have an adoption rate of over 80%, compliance has improved, and bookings are down 15%.”
Improving the Employee Experience and Enabling Hybrid Working
Whether it’s the Great Resignation or Quiet Quitting, CFOs are concerned about the people in their organisation. 83% are focusing on hiring and retaining talent. And 43% want to increase the use of automation to offset increased labour costs.
When expense, travel and invoice are in separate systems, the finance team will still be duplicating effort across travel and expense. This equals more time needed for manual data entry and less time available for doing productive, fulfilling work.
And for employees across the business, the admin required to submit and approve spend involves multiple systems, which can lead to delays and frustration for everyone involved.
When you connect expense, travel and invoice spend with SAP Concur solutions, you reduce manual data entry. Plus, because they’re cloud-based, you have systems that enable hybrid working. You can also access all the information you need no matter when or where you and your team are working.
After implementing Concur Expense and Concur Travel, Alejandro Paredes-Marañón, Group Travel & Expenses Manager, Shared Services at Imperial Brands, commented: “The beauty of the solution is that it is easy to use. There is a single sign-on, users can work from their desktop or mobile, credit cards are integrated. We’ve created a really user-friendly process.”
The Value of Connecting Expense, Travel and Invoice
When you use SAP Concur solutions to connect your expense, travel and invoice processes in a single system, you turbo-charge the digital transformation of the finance function.
Because best-in-class users of digital finance technology see:
- 27% improvement in profitability
- 36% improvement in productivity
- 71% increase in speed of decision-making
- 60% increase in visibility into budgets
- 72% improvement in data sharing and collaboration
You work less but achieve more. And you help to make your business run better.
To get the full story, download Work Less Achieve More: Connecting Travel, Expense and Invoice Using SAP Concur Solutions.