What are finance hacks costing you?

Over the past two years, industry leaders have been accelerating the digitalization of their operations, which in turn is making them more resilient, more competitive, and more profitable. We’re proud to say that our customers are at the forefront of this momentum, and for good reason. 

In a 2022 survey of over 1,200 financial and IT decision-makers1, more than a quarter of respondents said their companies are already using at least one SAP Concur solution.

Some of the benefits these SAP Concur users reported include:

  • 47% reduction in missing receipts
  • 32% reduction in the time taken to approve expenses
  • 29% reduction in time spent by accounts payable/finance teams capturing invoices
     

Perhaps most importantly, our customers say that automation has helped them boost employee performance and satisfaction, which in turn strengthens company culture and employee retention. 

How can you accelerate your own automation journey? By first identifying the manual processes that are holding you back.
 

Best run businesses elimate these finance hacks

Consider, for a moment, how your company manages its expenses and vendor invoices. Does your workflow include cumbersome manual workarounds that create more complexity and frustration than they solve? 

If you’re not sure, perhaps some of these more common finance hacks will sound familiar:

  • Tracking expense and invoice approvals using sticky notes or PDF annotations
  • Stapling receipts to printed expense reports and then couriering them to head office
  • Using personal credit cards to pay invoices faster
  • Manually updating spreadsheets to forecast budgets and analyze spending 
     

These types of hacks are usually just the tip of the iceberg, as well. So, if you haven’t recently audited your expense, travel, and invoice management processes from end-to-end, it’s time to make it a priority. 

To help, we’ve put together a spend management scorecard for finance leaders. Use it to re-examine how you assess and measure the KPIs of your spending program, your travel and expense technology, and your spending itself to see where you could improve.

Download Spend Management Scorecard

 

Get around your workarounds. Let's automate that.

Partnership is at the foundation of everything we do. Reach out to us today and let's talk about how you can automate your spend management with SAP Councur solutions. It's easier than you may think.

We’ll show you how


1Analysys Mason, 2022 Travel, Expense, and Vendor Invoice Management Study.

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