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 tailored for mid to large-sized organizations, especially those with global operations, to streamline and automate various financial and administrative tasks.
Key Functions
- Travel Management: SAP Concur includes a robust travel booking system integrated with major travel suppliers such as airlines, hotels, and car rental companies. The Concur Travel module ensures that all travel bookings comply with company policies and preferred suppliers. It also manages travel itineraries and integrates travel bookings directly into expense reports, enhancing the overall travel management process.
- Expense Management: Concur Expense automates the creation, submission, and approval of expense reports. Key features include receipt capture using mobile devices, automatic checking of expenses against company policies, and integration with corporate credit cards and ERP systems. The system also provides detailed analytics and reporting to help manage costs and identify spending patterns.
- Invoice Management: Concur Invoice handles the capture, approval, and payment of supplier invoices. It includes supplier management, purchase order matching, and detailed reporting to track spending and manage budgets. This module helps in optimizing working capital and ensuring compliance with financial regulations.
Key Features and Functionality
- Automated Processes: SAP Concur automates various tasks such as expense submission and reimbursement, travel booking, and invoice processing, reducing manual effort and the risk of errors.
- Mobile Access: The SAP Concur mobile app allows employees to manage travel, expenses, and invoices from anywhere. Features include receipt capture, expense report submission, and approval workflows accessible via mobile devices.
- Policy Compliance: The software ensures compliance with company policies by automatically flagging non-compliant expenses, travel bookings, and invoices. It enforces predefined rules and regulations to reduce the risk of errors and non-compliance.
- Global Support: SAP Concur supports multiple currencies and languages, making it an ideal solution for global companies. It converts expenses into different currencies to comply with local regulations and tax requirements.
- Integration Capabilities: SAP Concur integrates seamlessly with a wide range of systems including ERP (SAP ERP, Oracle ERP, NetSuite), CRM (Salesforce, Microsoft Dynamics CRM), HR (Workday, ADP), and accounting systems (QuickBooks, Xero). This integration provides a unified view of all financial data and streamlines processes.
- Reporting and Analytics: The software offers extensive reporting and analytics capabilities, including custom reporting, interactive dashboards, predictive analytics, and benchmarking against industry peers. These tools help in gaining real-time visibility into spending patterns and making informed financial decisions.
- Concur Request and Concur Intelligence: Concur Request allows for pre-approval workflows for travel, expenses, and other spending, providing visibility into spending before it occurs. Concur Intelligence offers advanced analytics, including custom reporting, dashboards, predictive analytics, and benchmarking to optimize spend management.
Additional Benefits
- ExpenseIt Pro: This feature allows travelers to capture and upload receipts using their smartphone camera, automatically populating the expense entry with detailed information.
- Financial Connectors: SAP Concur’s financial connectors work with various financial systems to provide a unified view of all data, ensuring timely, accurate, and complete financial reporting.
- Compliance and Risk Management: The software includes features for risk management, such as tracking employee locations during travel and assisting in case of emergencies. It also ensures accurate expense audits and compliance with global tax regulations.
SAP Concur’s modular approach allows businesses to select specific solutions (Concur Expense, Concur Travel, Concur Invoice) based on their needs, making it a flexible and scalable solution for managing business expenses and travel efficiently.