Business Continuity
What’s the Business Value of Concur Invoice?
Today’s world of business demands modern solutions. In fact, you risk being left behind if you don’t modernize your invoicing. Automating AP not only helps you better engage with employees, customers, and suppliers, but also helps you improve compliance, efficiency, and spend visibility.
The Business Value of Concur Invoice, a whitepaper by IDC and sponsored by SAP Concur, explores the costs and benefits of Concur Invoice. According to the eight businesses interviewed – from small to medium sized businesses to large, enterprise businesses – SAP Concur has helped improve their AP process in the following ways:
- Reduced staff time on invoice processing by 68%
- Improved employee compliance to nearly 100%
- Decreased late payments to vendors by 67%
- Increased productivity for line of business employees involved in invoice management cycles by 11% by integrating mobility
- Reduced IT staff time required to manage AP solutions by 29%
But there’s more to it than cost savings and better workplace efficiency. Invoice management is a big piece in your financial picture, and getting informed data, along with T&E components, provides more informed business decisions. Read on to learn why businesses across many industries think Concur Invoice is a great investment.
Future-proof Your AP for Better Workplace Efficiency.
Today’s Chief Financial Officer (CFO) faces numerous challenges, from managing operating costs and employee turnover to improving workplace productivity and keeping up with the competition. In the digital era, spending choices for employees abound, making it harder to manage costs, cash flow and the bottom line. Financial leaders are looking to new user-friendly, business-ready Invoice solutions to make it easier.
One of the businesses interviewed discusses how automating with Concur Invoice improved its AP processes:
"There definitely is a change since implementing Concur Invoice. Employees are more productive and happy and costs have gone done, and from a fraud standpoint, we don’t have to rely on a squiggled signature on a piece of paper. This way, we know that the right person is approving the invoice. SAP Concur has enabled 100% compliance because it ensures that the right person is providing the signature for approvals."
As noted in the IDC white paper, the organizations are projected to achieve annual benefits worth $775,401 per organization ($15,418 per 1,000 invoices) and a return on investment of 505%. Those savings, efficiencies, and productivity gains are phenomenal.