When SAP acquired Concur in 2014, they gained a powerful spend management tool that offered their customers a cloud platform to simplify and streamline travel, expense and invoice management processes.
SAP Concur is a valuable tool with a variety of features that can help your business save time, reduce costs, and improve compliance.
But are you making the most of every feature Concur has to offer? Here are 10 of the best functionalities your team should be using, if you’re not already…
1. Automated Expense Reporting
Manual expense tracking is time-consuming and tedious. SAP Concur automatically imports transaction data from corporate cards and integrates it with receipts, significantly reducing the time you spend creating expense reports (and saving your team members’ sanity).
Minimise errors and speed up your reimbursement process, while increasing employee satisfaction.
2. Mobile App for On-the-Go Management
A game-changing feature that you need to get your team onto right now, if you haven’t already.
Capture receipts, approve expenses, and book travel straight from your smartphone. If your team works remotely or travels frequently, this is a must-have for ensuring real-time updates and streamlined workflows.
3. Integrated Travel Booking
You can book flights, hotels and car rentals all within a single platform - transform your stressful work trip planning into a smooth and easy process. SAP Concur integrates with travel suppliers, and ensures that any bookings comply with company policy.
If your team travels frequently, you’ll spend a lot less time overseeing and approving travel arrangements, freeing up your time to focus on business-critical tasks.
4. Audit Rules and Policy Enforcement
Built-in audit rules will automatically flag any policy violations, saving you, or your Managers’, time and ensuring your team stays compliant. This feature helps maintain consistent standards across your organisation, and reduces the risk of any fraudulent claims popping up.
5. Receipt OCR Technology
SAP Concur uses Expenselt, a receipt scanning tool using AI-backed OCR technology that allows your expense claims to write themselves. Speedy and simple receipt management eliminates the need for manual data entry, reducing the risk of human error, and saving your team time and money.
6. Customisable Dashboards and Analytics
If you haven’t taken full advantage of the SAP Concur customisable dashboards just yet, you’re in for a treat. You can gain actionable insights on spending patterns and trends using real-time data, to help you make informed decisions at the drop of a hat.
7. Expense Integration with Accounting Systems
Don’t have SAP Concur properly integrated with your accounting system? Time to change that.
Whether you’re using QuickBooks, Xero, SAP, or another software, Concur will integrate seamlessly. Manage your data from the same platform, reducing work duplication and enhancing financial reporting.
8. Mileage Tracking
Concur Drive lets you automatically capture and document your employees’ mileage. They can log trips through the app, which then calculates reimbursements based on current rates and company policies. You’ll get accuracy and transparency with your mileage reporting process, and reduce the risk of human error and fraudulent claims.
Great for when it comes around to the audit!
9. Global Compliance Support
If your organisation operates globally, Concur helps you navigate local tax and compliance laws, as well as languages, when you’re managing expenses. If your team are spread across borders, SAP Concur makes expense management easy for you.
10. E-Receipt Integration
Concur automatically collects digital receipts from participating vendors, then links them to the correct expense entry. Reduce your paperwork and minimise the risk of error – there aren’t any negatives to reducing manual data entry!
SAP Concur is a comprehensive solution designed to improve efficiency, reduce costs, and enhance compliance for businesses like yours across the globe. If you’re just implementing Concur, or you’re using it but haven’t fully optimised your system yet, make sure you write these 10 features into your SAP Concur roadmap!
Need the talent to get your SAP Concur tools up to scratch? Focus on SAP are the SAP Recruitment Specialists – we have the knowledge and network to provide you with the niche skills you need to optimise your SAP system. Get in touch today to explore how we can help you.
