X Marks the Spend: The Hunt to Uncover Hidden Savings
It’s tough to capture every bit of employee spend, but more important than ever to control costs. Disconnected, inefficient processes, like manually filling out expense and mileage reports, chasing down approvals, and keying in invoices can lead to error, duplications, and lost productivity. It’s time to track down lost spend. Explore the map to learn how automating and connecting travel, expense, and invoice can unlock savings you can treasure.
Begin
Welcome
Begin Navigation
$173M
Mileage spend from SAP Concur customers that doesn’t contain location data
It can be easy for employees to fudge the numbers or make errors when manually reporting mileage and other expenses. Automating mileage to capture the correct location data in the first place can mean big savings.
Learn how to detect and prevent spend fraud.
56%
Organizations that generally reimburse employees for out-of-policy spend
Learn why improving the travel experience for your employees is the first step to boosting compliance.
$19B
"Other" spend accounted
for in 2019 by SAP Concur customers under 94K different expense types
Automated solutions can flag noncompliant spend so finance doesn’t spend hours on audits.
Is your organization paying for noncompliant spend because you can’t uncover it?
80%
Travel managers who don’t use technology to capture bookings made outside of their program
52%
Travel bookings that are made outside of corporate channels by employees for hotel and air combined
When an emergency strikes, can you find and help all your employees? Find out if you’re meeting your duty of care obligations.
Inability to capture outside bookings leads to reduced visibility into spend, compliance, and itineraries, which is more important than ever for accurate financial reporting and duty of care in emergency situations.
20%+
Companies that say they cannot recover VAT due to complex and burdensome procedures
Where’s that VAT at? Find out how to reclaim more VAT on corporate travel expenses.
When VAT recovery is handled manually, money may be left behind due to the difficult record-keeping requirements. Automation can help businesses recapture that spend.
$12.90
20-30%
Average cost to process an invoice
Invoices that result in exceptions
Read more about how automating invoice can aid faster, leaner, and more cost-effective AP workflows.
Invoices can camouflage hidden costs, such as hours spent on manual entry, late payment penalties, duplicate payments, and the lost opportunity for early payment discounts.
A Treasure Trove of Time Savings and Increased Productivity
Pirated Expenses
Rogue Spend
Buried Travel Bookings
Undiscovered VAT
Invisible Invoices
8
9
7
6
5
3
4
1
The Hidden Treasure
With improvements in compliance, user productivity, and support staff productivity — and better visibility leading to better negotiated costs — digitally transforming travel and expense adds up to big savings.
READ THE TIP SHEET
Read our tip sheet Best Practices for Governing Employee Spend and visit Concur.com to avoid future hidden spend hunts.
$672,000
Cumulative annual average savings after automating travel and expense
Sources
Internal SAP Concur benchmarking data
ACFE, via SAP Concur, The New Age of Fraud: Preventing Fraud Across Employee Spend Areas
GBTA, The Evolution of Corporate Travel Content, 2019
Internal SAP Concur benchmarking data
SAP Concur, Making Invisible Travel Bookings Visible
VAT IT, as reported in Finance Monthly, “Companies Lose $20 Billion in Unrecovered VAT Globally,” February 28, 2018
AP & P2P Network, Special Report: The True Cost of
Paper-Based Invoice Processing and Disbursements
IDC, Empower Organizations to Digitally Transform Their Expense, Travel, and Invoice Process, October 2018
IDC, The Business Value of Concur Invoice, February 2017
1
2
3.5
4
6
7
8-9
10-11.13
12
13
Sources
1
2
3
4
5
6
1/6
2/6
3/6
4/6
5/6
Begin Navigation
5%
Revenue lost to fraud annually by typical organizations
2
78%
60%
Time savings when booking a trip using an automated solution
Time savings when completing expense reports using an automated solution
34%
Time savings per 1,000 invoices per year when using an automated solution
Employees want to fill their days with productive work, not booking travel or filing expense reports. Providing easy-to-use apps that automate tasks can help. And easier processes mean faster expense reporting and better visibility.
10
11
12
6/6
The Hidden Treasure
X Marks the Spend: The Hunt to Uncover Hidden Savings
Learn More
Begin
Sources
Sources