Product Overview of SAP Concur
SAP Concur is a comprehensive, cloud-based software solution designed to manage travel, expense, and invoice processes for businesses. It is particularly suited for mid to large-size companies, especially those with global operations, due to its robust features and compliance capabilities.
Key Functions
- Travel Management: SAP Concur includes a travel booking module (Concur Travel) that allows employees to book travel arrangements such as flights, hotels, and car rentals while ensuring compliance with company travel policies and preferred suppliers. The system integrates travel bookings directly into expense reports and provides itinerary management and risk management features to track employee locations during travel.
- Expense Management: The Concur Expense module automates the process of creating, submitting, and approving expense reports. It features real-time expense capture and categorization, allowing employees to capture receipts using their mobile devices, which are then automatically integrated into expense reports. The system checks expenses against company policies, flags policy violations, and integrates with corporate credit cards and ERP systems to ensure compliance and reduce manual effort.
- Invoice Management: Concur Invoice is designed to capture, approve, and process supplier invoices. It manages relationships with suppliers, tracks invoice statuses and payment timelines, and matches invoices to purchase orders and goods received. This module also provides reporting and analytics to help track spending, manage budgets, and optimize working capital.
Key Features
- Automated Workflows: SAP Concur automates approval workflows for travel, expenses, and invoices, ensuring that all spending aligns with company policies and budgets. This includes pre-approval workflows for travel and expenses to prevent budget overruns.
- Mobile Access: The software offers a mobile app that enables employees to book travel, capture expenses, and submit invoices from anywhere. Managers can also use the app to review and approve reports on the go.
- Global Compliance: SAP Concur supports multiple currencies and languages, making it ideal for global companies. It converts expenses into different currencies and complies with local tax regulations and compliance requirements.
- Integration Capabilities: The software seamlessly integrates with various financial systems, including ERP, CRM, human resources, and accounting systems like ADP, NetSuite, QuickBooks, and Salesforce. This integration ensures smooth data transfer, eliminates manual entry, and maintains data accuracy.
- Reporting and Analytics: SAP Concur provides extensive reporting and analytics tools that offer insights into spending patterns. This helps organizations manage costs, track spending trends, and make informed budget management decisions.
- Policy Enforcement: The system automatically checks expenses, travel bookings, and invoices against company policies to ensure compliance. It flags non-compliant transactions, reducing the risk of errors and non-compliance.
Modular Approach
SAP Concur is sold in a modular form, allowing businesses to purchase specific solutions such as Concur Expense, Concur Travel, or Concur Invoice separately or as a comprehensive package. This flexibility enables organizations to select the functionalities they need and add more modules as their requirements evolve.
In summary, SAP Concur is a powerful tool that streamlines travel, expense, and invoice management by providing real-time visibility, ensuring policy compliance, and enhancing financial controls. Its extensive integration capabilities, mobile access, and robust reporting features make it an essential solution for mid to large-size companies seeking to manage their spending more effectively.