It’s no secret that efficient money management plays a significant role in helping companies across industries achieve success over time. And, without it, these companies often fall victim to inaccurate expense management processes, mismanaged costs, and lots of wasted money…
Enter SAP Concur — a travel, invoice, and expense management solution that allows companies to manage expenses more effectively and ensure proper controls are initiated to reduce total costs and manual effort required to complete complex expense reporting, auditing, or planning processes.
This article will discuss the key components and capabilities of SAP Concur and how it can lead to increased productivity and improved compliance across your organization, as well as where our team of SAP consultants can come in to help.
Let’s get started!
Understanding SAP Concur
SAP Concur allows companies to simplify, automate, and connect their core invoice, expense, and travel management processes, enabling better compliance management and more efficient expense reporting across the entire organization.
Components of the SAP Concur System
With a modern expense management system like SAP Concur, you can streamline management processes for expense reports, business travel bookings, credit card data, and more in one unified system.
There are three core components that comprise the SAP Concur system:
SAP Concur’s Invoice Management software helps companies automate their core accounts payable (AP) processes, eliminating manual invoice management, reducing time spent completing AP tasks, and offering greater visibility into spending and profitability across the entire organization.
With the Concur Invoice component, users are enabled to:
- Set predefined conditions and leverage two or three-way matching to consolidate documentation and streamline core AP management workflows
- Use optical character recognition (OCR) and digital filing capabilities to increase data accuracy and improve permission-controlled access for users
- Implement custom audit rules and enhanced internal controls to gain real-time visibility into cash flows and facilitate more accurate reporting and auditing functions
- Integrate with other ERP solutions to extend the value of the system, enable scalability, and improve headcount planning strategies
- Leverage a user-friendly interface and comprehensive reporting capabilities to track unsubmitted invoices and in-process approvals and improve spending control
SAP Concur Expense simplifies expense reporting by automating and integrating expense management functions across teams, providing access to spending data from multiple sources, and improving planning and control functions for data from expense reports and receipts.
The Expense component of the SAP Concus system enables users to:
- Submit, view, and approve expense reports wherever and whenever they’re needed through mobile system access from any device
- Configure expense management settings to meet individual business requirements and policies
- Leverage intelligent automation to capture receipts and analyze expense reports
- Improve spending decisions based on more accurate expense data and greater visibility
SAP Concur’s Travel component offers advanced travel expense management capabilities to facilitate more efficient business travel, improve the accuracy of booking data, and track travel expenses more effectively.
With Concur Travel, employees are enabled to:
- Leverage an advanced online booking tool to book air, railway, rental car, and hotel reservations
- Empower employees to take control of their own travel by allowing them to change reservations as needed, share their itinerary with others, and receive real-time travel notifications
- Maintain duty of care responsibilities and keep employees safe through advanced employee tracking capabilities for traveling employees
- Ensure accurate, up-to-date travel data to make better, more sustainable travel decisions across the entire company
- Track and consolidate travel data in a single, user-friendly dashboard, regardless of where it’s booked
How Can We Help?
Whether you need help implementing SAP Concur solutions for the first time, additional support facilitating mobile device integrations across your entire organization, or just an extra hand keeping track of monthly expense reports, Surety Systems is here to help.
Our team of senior-level, US-based consultants has what it takes to handle any project! From pre-implementation planning to deployment support, post-implementation check-ins, system enhancements, and everything in between, we’ve got you covered.
Getting Started with Our Team
Interested in learning more about SAP Concur or how our SAP consulting team can help you make the most of your SAP investment in the long run?
Contact us today for more information!