Numbers Speak Louder Than Words: The Power of Statistics in Choosing a Spend Management Solution

Whether times are uncertain or calm, it’s always crucial to assess the likely impact of technology investments. Statistics are a great place to start. By looking at figures drawn from professionally conducted surveys you can weigh up the probable business outcomes of different solutions.

We appreciate that statistics can be both bamboozling and illuminating and we don’t believe in statistics for statistics’ sake. Our aim is to make decision making as easy as possible and to provide a solid reason to invest in our solutions.

Why SAP Concur Solutions?

Helping businesses of all sizes effortlessly manage their travel, expense, and invoice processes from anywhere

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Let’s Get Statistical

American economist and statistician W. Allen Wallis defined statistics as "a body of methods for making wise decisions in the face of uncertainty.” Statistics help you get more for your money, avoid costly mistakes, get maximum ROI and are key tools in persuading others to take the leap.

Since its formation in 1993, SAP Concur solutions have provided quantifiable benefits to 48,000 worldwide customers. Our SaaS-integrated travel and expense (T&E) management platform delivers a return on investment in the first six months.

But don’t just take our word for it.

What’s in It for You?

First, you’ll want to establish the benefits of automating your spend management processes and discover why SAP Concur solutions outperforms our competitors. At SAP Concur solutions we conduct surveys and reports with leading data partners, including IDC, Oxford Economics, Aberdeen, AMI-Partners, Wakefield, Vanson Bourne and Censuswide, to help you do this.

Let’s take a look at some of the key questions you might have and what our statistics tell you.

Three Key Questions: What Do the Stats Say?

Innovation and digitisation is undeniably the way forward, but the impact on efficiency, productivity and profitability is what you need to understand when making those all-important decisions.

1. What’s the top reason for automating spend management?

As we emerge into a post-pandemic world, 40% of UK finance and IT leaders say a lack of visibility into spending is a top challenge to meeting their functional goals.

2.  Is automating spend management worth the investment?

UK Best-in-Class companies who automate finance processes saw a 27% improvement in profitability and 36% improvement in productivity over the past two years.

3. What impact does spend automation have on business-wide spend management?  

UK Best-in-Class businesses are 71% faster at decision-making, have nearly 60% better visibility into budgets, are 72% better at data sharing and collaboration and can access data 23% faster than all others.

Transforming Expense, Invoice and Travel Processes

Now let’s see how SAP Concur solutions can transform the three spend management areas of expense, invoice and travel.

1. Expense

Will Concur Expense save my organisation money?

Businesses of under 1,000 employees using automated finance processes see the cost of producing an expense report plummet by 33%. The annual costs for global businesses using Concur Expense are reduced by 30% compared to those using other T&E software.

Will Concur Expense save me time?

The average number of days to approve an expense report for UK companies with under 1,000 employees is 7.5 days which reduces to 5.6 days for best-in-class UK companies. Organisations using SAP Concur solutions report saving 15% more time than the average T&E automation user.

2. Invoice

Will Concur Invoice save my organisation money?

Global companies with less than 1,000 employees who use automated supplier invoice management solutions save £27,000 per year. By using Concur Invoice they save £33,0000 annually (UK companies save £38,000).

Will Concur Invoice save me time?

Best-in-class UK companies with under 1,000 employees who automate finance processes are seeing 24% faster time to receive and process supplier invoices. Concur Invoice users reduce the time to process invoices by 75%.

3. Travel

Is Concur Travel really necessary with business travel remaining so uncertain?

Travel is back —  95% of business travellers are willing to return to travel in the next year and travelling employees are more likely to submit expenses. 93% of UK SMBs have employees that travel 4 to 5 days per month and roughly 16% of their employees travel at that frequency.

Will Concur Travel help keep employees happy and support my sustainability goals?

More than half (53%) of SMB employees would make changes if their company doesn't provide the necessary travel policies or measures to protect their health and safety. 91% of business travellers expect to change their behaviour in the coming 12 months, including prioritising domestic trips (33%) and using cars instead of public transport (31%). Concur Travel enables businesses to automate policy adherence whilst offering travellers flexibility and control.

Safety in Numbers: SAP Concur Support and Community

Once you’ve decided to invest in SAP Concur solutions, our SAP Concur Community provides 506 helpful resources and has elicited over 7000 conversations between its almost 58,000 online members.

Now is definitely not the time to be making any decisions on a wing and a prayer. With SAP Concur solutions you have our expertise, our experience and our promise to make a difference to your business – with the stats to prove it.

See why 48,000 companies worldwide choose SAP Concur Solutions. For more information on how to apply these impressive statistics to your own business and start reaping the rewards, visit Concur.co.uk.