SlideShare a Scribd company logo
1 of 14
Download to read offline
Document #US42246116 © 2017 IDC. www.idc.com | Page 1
IDC White Paper | The Business Value of Concur Invoice
TheBusinessValueofConcurInvoice
Executive Summary
Cloud software is redefining how businesses engage with employees, customers, and
suppliers. The ability to deploy business-ready solutions that improve back-office efficiency
and reduce time-to -cash is making businesses of all sizes far more competitive. In fact,
companies risk being left behind if they do not modernize their business processes with
cloud software. Invoice management software is a perfect example as purpose-built hosted
applications help reduce accounts receivable turnover, improve company cash flow, and
provide a more accurate picture of a company’s finances.
This white paper analyzes the costs and benefits associated with Concur Invoice based
on in-depth interviews with eight organizations that use Concur Invoice to manage and
process vendor invoices. IDC’s study has revealed that since implementing Concur Invoice,
the surveyed organizations have made their invoice management processes more efficient
and effective. With Concur Invoice, these organizations have automated and simplified
accounts payable (AP) workflows, enhanced the user experience, encouraged mobility in the
AP process, and improved compliance levels. IDC projects that for a five-year period, these
organizations will achieve benefits worth a discounted average of $2.75 million ($54,647 per
1,000 invoices) and a return on investment (ROI) of 505%. Highlights of the benefits realized
by these organizations include:
»» Attaining efficiencies in AP workflows, including spending 68% less time
processing invoices
»» Automating the invoice management process to significantly improve compliance
•	99% of employees using Concur Invoice are complying with their companies’
procurement policies, which improved 14% over the five years
•	The number of delayed payments to vendors has decreased by 67%
»» Enhancing the user experience in handling invoices by mobilizing the invoice
management process (The surveyed organizations increased their productivity by an
average of 11% as a result of using Concur Invoice on their mobile devices)
»» Reducing IT staff time required to manage invoice management solutions by 29%
Sponsored by:
Concur
Authors:
Robert P. Mahowald
Matthew Marden
February 2017
Business Value
Highlights
505%
five-year ROI
5-month
payback period
$15,418
average annual benefits per
1,000 invoices
34%
decrease in the time spent
on tasks related to invoice
management
Average time to pay vendors
accelerated by
51%
45%
decrease in the number of
questions from vendors to the
accounts payable department
11%
increase in LOB staff
productivity resulting from
mobile enablement
Document #US42246116 © 2017 IDC. www.idc.com | Page 2
IDC White Paper | The Business Value of Concur Invoice
Situation Overview
Driving Business Agility
Modern organizations are looking at a variety of cloud-based technology solutions to lower
their capital expense profile, increase employee productivity, lower costs for managing
operational functions, and drive new capabilities that have a direct impact on business
performance. Similar to an ecommerce firm using cloud-based compute capacity to add
capacity to manage holiday orders, a project team using applications to collaborate across
geographies, or mobile systems that link field-based customer payment collection directly
to accounting systems, cloud technology has leveled the competitive landscape. Many
smaller organizations can now effectively compete with larger enterprises without having
to build, deploy, and maintain costly on premise technology systems. Company executives
across the business can test-drive a wide variety of software packages and find the package
that fits their specific project need.
IDC views cloud technology as a critical business priority rather than just another
organizational function because the business environment is much more competitive than
it was even five years ago. Furthermore, cloud-based technology has altered the charters for
senior executive roles, particularly the chief financial officer (CFO).
Today’s Chief Financial Officer
Today’s CFO faces numerous challenges. Investors’expectations (and CEOs’demands)
have never been higher. Managing a diverse workforce has never been more challenging
because the cost of inefficient financial operations, along with employee turnover and
lost productivity, is greater than ever in this hyper-competitive environment that rewards
sustained agility. These challenges are added to the historical CFO mandates around
controlling operational costs and reporting out financial results that are in line with an
ever‑growing set of industry compliance regulations.
With these issues in mind, forward-thinking CFOs are already engaging with IT solutions that are:
»» Business ready: These solutions can scale to accommodate organizations of any
size and link into existing accounting and ERP systems. Oftentimes, these are secure
cloud-based solutions that fit within the CIO’s IT policy framework and are cost-
effective and easy to deploy across the organization.
»» Capable of providing greater business performance visibility and driving smarter
decision making: Purpose-built solutions can more effective than manual processes
when it comes to quick automation and deeper reporting on a wider set of business
metrics. What used to take days or weeks can now take hours. In addition, when
1
For more details, see www.idc.com/prodserv/3rd-platform.
Document #US42246116 © 2017 IDC. www.idc.com | Page 3
IDC White Paper | The Business Value of Concur Invoice
utilizing a predictive solution that offers more than automation, executives are armed
with the insights to identify business opportunities that never existed before.
»» User-friendly: As more financial performance rests with reducing accounts receivable
turnover and achieving greater efficiency in cash flow management, businesses
need to ensure that finance and accounting staff, as well as their employees, are
able to quickly and accurately execute a modern, mobile invoicing process. Offering
employees modern cloud-based solutions they can use anywhere and anytime leads
to higher financial performance and user satisfaction, which are key to maintaining
an up-to-date view on an organization’s fiscal health.
Invoice Management Overview
Invoice management is directly linked to an organization’s fiscal health because it directly
involves collecting money owed to the company by its debtors. Many times, organizations
that start with a manual invoicing process continue to support this method—even as
company size and complexity grow—often to the point where workarounds, such as using
Excel templates for invoices and physical reconciliation, are no longer efficient. Further
problems arise when organizations start to reconcile invoices from remote offices in other
countries or regions or require general ledger reconciliation that can feed into compliance
documentation.
Early invoice management systems were focused on AP automation, essentially back-office
processes designed to eliminate paper — applying matching rules with OCR and supporting
the accounts payable department. The user experience was not important, and engaging
the business was not part of the plan. More modern systems began to engage business
leaders and rank-and-file users with the assumption that there was significant non-PO spend
not under management, and improving the process cannot be accomplished with a shared
services center disconnected from the business.
Manual intervention has been absolutely necessary to look at out-of-policy exceptions
and to determine whether the invoice is“okay to pay.”To get that engagement, modern
invoice management systems need to have a clear focus on the interface and employee
engagement with the system. For the large amount of spend that is not preauthorized is
not based on a contract, and requires some business input to be resolved; the best systems
engage employees and spend managers in the process of AP automation. The results are
better visibility and insight into non-PO spend, P-Card spend, and corporate card spend and
the ability to“meet employees where they are”— at the level of spend under management,
which is comfortable to the company based on its risk profile and preference. The best
systems offer that level of flexibility and capture that level of detail and can do so in any
industry or company size segment.
Document #US42246116 © 2017 IDC. www.idc.com | Page 4
IDC White Paper | The Business Value of Concur Invoice
The Business Value of Concur Invoice
Study Demographics
IDC interviewed eight customers about their use of Concur Invoice. The organizations
interviewed vary in size and represent various industries — education, hospitality, insurance,
legal, nonprofit, and technology. Four of the surveyed organizations are based in the United
States, and the remaining four are based in Hong Kong, Australia, the United Kingdom, and
Canada. By size, the interviewed organizations ranged from a small academic institution
with 45 employees to a large, multinational firm with 230,000 employees. The surveyed
organizations had an average of 31,459 employees, and the median number of employees
for these organizations was 290. The number of Concur Invoice users ranged from 5 to 4,000,
with an average of 782 users. Study participants process an average of 50,269 invoices with
Concur and have been using Concur Invoice for two and a half years on average. Further
details regarding the firmographics of the surveyed organizations are highlighted in Table 1.
TABLE 1
Firmographics of Interviewed Organizations
Firmographics Average Median Range
Number of employees 31,459 290 45–230,000
Annual revenue $28.76B $2.75B $18.3M–157B
Number of IT staff 1,045 19 3–8,000
Number of Concur Invoice
users
782 53 5–4,000
Number of invoices processed
per year with Concur Invoice
50,269 26,000 11,700–195,000
Deployed Concur Invoice since
(months)
30 15 7–89
Regions Australia, Asia, Europe, and North America
Industries
Education, hospitality, insurance, legal,
nonprofit, and technology
Source:IDC,2016
Document #US42246116 © 2017 IDC. www.idc.com | Page 5
IDC White Paper | The Business Value of Concur Invoice
Financial Benefit Analysis
The surveyed organizations implemented Concur Invoice because they needed an efficient,
automated, and faster way to submit, review, and process invoices. The organizations
described making their invoice management processes more effective and efficient with
Concur, thereby achieving substantial value in their investment. IDC projects that in-total,
the surveyed organizations will achieve benefits equivalent to $775,041 ($15,418 per 1,000
invoices) per year over a five-year period in the following two categories:
»» Business productivity benefits: The surveyed organizations have benefited from
an increase in user productivity, staff efficiencies for teams involved in processing
invoices, and cost reductions stemming from enhanced compliance. IDC projects
that on average, annual business benefits will equate to $751,682 per organization
or $14,953 for every 1,000 invoices processed. The first three columns in Figure
1 highlight the categories of business benefits that are attained by the surveyed
organizations.
»» IT staff productivity benefits: Concur Invoice has brought efficiencies to IT
departments at the surveyed organizations by reducing the time required to
manage invoice management technology. On average, IT staff productivity gains are
equivalent to $23,359 per organization or $465 for every 1,000 invoices processed.
FIGURE 1
Average Annual Benefits per 1,000 Invoices
$7,537
$6,905
$511 $465
$1,000
$0
$2,000
$4,000
$3,000
$5,000
$6,000
$7,000
$8,000
($per1,000invoicesperyear)
Business productivity benefits Invoicing team-related benefits
Invoicing-related cost reductions IT staff productivity benefits
Source:IDC,2016
Document #US42246116 © 2017 IDC. www.idc.com | Page 6
IDC White Paper | The Business Value of Concur Invoice
Business Benefits of Concur Invoice
Organizations using Concur Invoice reported achieving substantial business value by
streamlining their invoice management processes. Based on the interviews with these
organizations, IDC projects that they will achieve annual business benefits worth $751,682
per organization or $14,953 for every 1,000 invoices processed by:
»» Improving business user productivity: Thanks to automation, ease of use, and
availability on mobile devices, various groups of employees are saving substantial
time by using Concur Invoice to submit and review invoices. On average, these
productivity benefits are equivalent to $378,887 per organization or $7,537 for every
1,000 invoices processed.
»» Requiring less time to manage and process invoices: Concur Invoice enables staff
responsible for handling and processing invoices to be more efficient. The benefit
includes a decline in the time spent on invoice-related data entry, processing vendor
payments, reviewing invoices, and conducting audits. In total, benefits attained
by staff involved in the invoice management cycle are equivalent to $347,100 per
organization or $6,905 for every 1,000 invoices processed.
»» Reducing costs associated with the processing of invoices: By deploying Concur
Invoice, the surveyed organizations have reduced costs associated with the AP
process by enhancing compliance, avoiding penalties for late payments, and
attaining discounts from vendors by making early payments. These benefits are
equivalent to $25,695 per organization or $511 for every 1,000 invoices processed.
Enhancing the End-User Experience
Concur Invoice has had a significant impact on the productivity of line-of-business
employees who are involved in some stage of the invoice management cycle. The most
substantial impact of Concur Invoice has been to give these individuals the ability to submit,
review, approve, and process invoices on mobile devices:
»» Enabling mobility has improved the productivity and enhanced the experience for
managers who are responsible for approving invoices: : “It gives the approvers better
visibility because they can see what’s coming through as they get order notifications and
reminders. It definitely saves time on approvals. I would say their productivity from using
Concur on mobile devices has increased by 10 to 20%.”
»» Employees can submit and monitor invoices while on the road: “Most of our
employees travel a lot, so it’s easier for them to submit all of their invoices and expense
Document #US42246116 © 2017 IDC. www.idc.com | Page 7
IDC White Paper | The Business Value of Concur Invoice
claims through the Concur mobile app. Previously, they used to send all of the invoices
through emails, and they had to repeatedly check on the status of the invoice. Now, they
can just log in to Concur and see what the status of the invoice is and whether it’s pending
approval or has been paid.”
»» Employee satisfaction has improved: “It has definitely saved employees time because
otherwise they would be sitting in a taxi doing nothing. They used to have to submit
invoices when they were back in the office and are now more productive with their time.
They are able to have more visibility, and visibility is the first step in managing costs. Also,
staff morale has gone up. We can retain people because we have better systems and
processes.”
In total, mobile enablement of the invoice management process has led to an 11% increase
in productivity, resulting in 214 hours of additional productive employee time every year
for every 1,000 invoices processed. Further details highlighting the benefits of mobile
enablement are provided in Table 2.
TABLE 2
Impact of Mobility on Staff Productivity
Key Metrics Analyzed
Number of users impacted 53
Productivity increase 11%
Hours gained per 1,000 invoices per year 214
FTE impact 5.7
Annual benefits per organization $373,935
Annual benefits per 1,000 invoices $7,439
Source:IDC,2016
Reducing the Time Required to Process Invoices
Through automation, ease of use, and lowering the risk of error, Concur Invoice has enabled
substantial time savings for staff responsible for supporting the invoice management cycle.
Staff within the surveyed organizations are spending an average of 34% less time on tasks
related to the invoice management cycle such as invoice-related data entry, managing
Document #US42246116 © 2017 IDC. www.idc.com | Page 8
IDC White Paper | The Business Value of Concur Invoice
vendor payments, performing audits, and invoice processing. Further details highlighting
the impact of Concur Invoice on invoice-related tasks are provided in Table 3.
The efficiencies in conducting day-to-day invoice management–related tasks have reduced
the time required to process an invoice. The total processing time per invoice has dropped
by 53%, and staff time required to process one invoice has decreased by 64%. Table 4
highlights the impact of Concur Invoice on the efficiency of invoice processing.
The surveyed organizations have achieved time savings because Concur Invoice has:
»» Increased accountant productivity: “Concur has improved our accounting
Impact of Concur Invoice on the Efficiency of Invoice Processing
Key Metrics Analyzed Before Concur Invoice With Concur Invoice Difference Change (%)
Total processing time per invoice (days) 8 4 4 53
Staff time required per invoice
processed (minutes)
12 4 8 64
TABLE 4
Source:IDC,2016
Impact of Concur Invoice on Invoice-Related Tasks
Key Metrics Analyzed
Before Concur Invoice
(Hours per 1,000
Invoices per Year)
With Concur Invoice
(Hours per 1,000
Invoices per Year) Difference
Change
(%)
Value per 1,000
Invoices per
Year ($)
Invoice-related data entry 43 30 13 30 441
Managing vendor
payments
289 185 104 36 3,602
Invoice processing 101 32 69 68 2,397
Invoice audit 150 136 14 9 465
Total impact 582 384 194 34 6,905
Source:IDC,2016
TABLE 3
Document #US42246116 © 2017 IDC. www.idc.com | Page 9
IDC White Paper | The Business Value of Concur Invoice
organization’s productivity during the month-end period because it enables thousands
of accountants across the globe to analyze their monthly spend and enables greater
accuracy in our accruals.”
»» Empowered the business user to complete formalities before submitting invoices:
“The person who is obtaining the service is now responsible for submitting the invoice into
Concur, so finance can process the payment once he or she ensures the charge is accurate.
Finance then confirms that the invoice is accurate and follows company policy before
authorizing the payment.”
»» Reduced the number of queries from vendors to the AP department: “We’ve seen
calls from vendors drop. This has created more value-added time for our customer service
staff to take on more jobs — probably a 50% drop in the number of questions coming in
and a 75% drop in the time spent compared with looking for the physical paperwork.”
»» Streamlined the approval process: “We had a problem because we had a manual
authorization process and had to send invoices to the CFO for authorization. If there
was any doubt, we had to go back to the supplier and then correct it and go through the
process again. Now, the whole thing is in one place, so we just need to get the invoice into
Concur, and it will go through the appropriate authorization levels.”
Reducing Costs Associated with Invoice Processing by Improving
Compliance
The surveyed organizations have reduced costs that they previously incurred because of lack
of compliance and late payments to vendors. Since deploying Concur Invoice, the surveyed
organizations have been able to avoid penalties and interest fees on late payments. Vendors
are receiving payments 51% faster, and the number of delayed payments have been
reduced by 67%. In addition, with Concur Invoice automating the invoice management
process, these organizations have been able to minimize the risk of human error and have
facilitated greater compliance of company policies. On average, the organizations have
witnessed a 32% increase in the percentage of employees following their procurement
policies (see Table 5). As one organization highlighted:
“There definitely is a change since implementing Concur Invoice. 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. Concur
has enabled 100% compliance because it ensures that the right person is
providing the signature for approvals.”
Document #US42246116 © 2017 IDC. www.idc.com | Page 10
IDC White Paper | The Business Value of Concur Invoice
The surveyed organizations attributed the increase in compliance to the following factors:
»» Improving the accuracy of transactions by automating the invoice management
process: “The approval process has been tightened, and we now have 100% compliance.
Fraud has been reduced. In addition, it has become easier to bring new vendors on board
since we can input the information electronically. This ensures that we’re paying the right
vendors.”
»» Reducing coding errors: “Before Concur, we had a 10% general ledger coding error rate,
and that results in people having to do journal entries after the transaction to correct the
error. We’ve reduced these errors by over 90% because we’re not relying on humans to
know and remember all the codes. With Concur Invoice, they automatically populate.”
»» Facilitating timely payment to vendors: “Concur Invoice has helped us with
compliance because we now pay vendors on time and based on their payment terms.
With Concur, managers know that there are certain bills that need to be paid right away
and can prioritize when it comes to approval.”
Fewer errors associated with the invoice management process and timely payment to
vendors have reduced the number of questions from vendors to the AP department (see
Table 6).
Impact of Concur Invoice on Compliance and Time Required to Pay Vendors
Key Metrics Analyzed Before Concur Invoice With Concur Invoice Change (%)
Percentage of employees following policies
regarding external spending on vendors
75 99 32
Average time to pay vendors (days) 12 6 51
Number of delayed payments per year 8 3 67
TABLE 5
Source:IDC,2016
Document #US42246116 © 2017 IDC. www.idc.com | Page 11
IDC White Paper | The Business Value of Concur Invoice
TABLE 6
Optimizing the Vendor Payment Process
Improvement (%)
Reduction in the number of questions from vendors to
the AP department
45
Reduction in time responding to questions from vendors 55
Source:IDC,2016
IT Staff Productivity Benefits of Concur Invoice
Apart from the business benefits attained by the surveyed organizations, Concur Invoice has
had an impact on the IT staff time required to administer invoice management technology.
Moving to a cloud- based invoice management solution has resulted in significant time
savings for the IT departments of the surveyed organizations. For example, one organization
noted how it no longer requires IT staff to administer its invoice management solution:
“We don’t involve the IT staff in the Concur process. After we implemented
Concur, we don’t need any IT support. It’s very user-friendly, and it’s an online
tool, so there’s no need for IT support.”
Compared with their previous invoice management solutions, organizations require 29%
less IT staff time to administer Concur Invoice (see Figure 2).
FIGURE 2
IT Staff Time Required to Administer Concur Invoice
Previous Solution Concur Invoice
33
23
5
0
10
20
15
25
30
35
(Hoursper1,000invoicesperyear)
Source:IDC,2016
Document #US42246116 © 2017 IDC. www.idc.com | Page 12
IDC White Paper | The Business Value of Concur Invoice
ROI Analysis
IDC uses a three-step methodology for conducting ROI analysis:
»» Gather quantitative benefit information during the interviews using a before-and-
after assessment. In this study, the benefits analyzed are centered on the increase
in user productivity, efficiencies gained in the AP process, value of enabling greater
compliance, and IT staff productivity.
»» Create a complete investment (five-year total cost analysis) profile based on the
interviews. Investments go beyond just the solution’s hardware and software. IT
departments spent staff time installing and configuring the new solution, removing
old equipment and/or software, and then maintaining the new solution. Ancillary
costs directly related to the solution, such as user input to planning; outsourced
installation, configuration, or maintenance; and IT staff or user training, are also
included in the analysis.
»» Calculate the ROI and payback period. IDC conducts a depreciated cash flow
analysis of the benefits and investments over a five-year period.
Because the full benefits of the solution are not available during the deployment period,
IDC prorates the benefits on a monthly basis and subtracts the appropriate amount for the
deployment time from the first-year savings.
IDC uses a discounted cash flow methodology to calculate the ROI and payback period. ROI
is the ratio of the net present value (NPV) of the net benefits and the discounted investment.
Payback period is the point at which cumulative benefits equal the initial investment. IDC
uses a standard 12% discount factor – which allows for risk and the missed opportunity cost
that could have been realized using that capital.
IDC’s five-year ROI analysis shows that the organizations surveyed in this study will spend
$454,187 deploying and maintaining Concur over five years and can expect to achieve $2.75
million in benefits for an NPV of $2.29 million. This would result in a five-year ROI of 505%
and a payback period of five months (see Table 7).
Document #US42246116 © 2017 IDC. www.idc.com | Page 13
IDC White Paper | The Business Value of Concur Invoice
TABLE 7
Five-Year ROI Analysis
Five-Year ROI Analysis
Average per
Organization
Average per
1,000 Invoices
Benefit (discounted) $2,747,064 $54,647
Investment (discounted) $454,187 $9,035
Net present value (NPV) $2,292,877 $45,612
Return on investment (ROI) 505% 505%
Payback period 5 months 5 months
Discount factor 12% 12%
Source:IDC,2016
Challenges/Opportunities
During any market transformation, there will be clear challenges and opportunities. For
Concur, challenges could come from point product start-up software providers that can
offer simple invoice forms and basic automation. These application vendors, often offering
consumerized user experiences, can drive simple functions and constant updates that may
seem to be the same as what Concur offers.
Other challenges could come from maintaining an organizational mindset that paper- or
Excel-based invoice management is“good enough,”even as finance staff are tasked with
spending more time reconciling a larger pool of invoices against the general ledger. That
said, Concur offers an end-to-end ecosystem of first-party and third-party capabilities an
organization can engage with as it grows.
Concur offers seamless integration into cloud-based accounting and existing ERP solutions
in the client environment. Concur has developed a set of predictive capabilities that can
be utilized on a cost-effective basis to proactively manage a workforce-wide portfolio that
includes invoicing and expense-related functions, such as expense reporting.
Conclusion
Automating invoicing not only helps businesses gain efficiency and productivity, but also
provides big-picture data visibility and increased employee satisfaction for more effective
Document #US42246116 © 2017 IDC. www.idc.com | Page 14
IDC White Paper | The Business Value of Concur Invoice
IDC Global Headquarters
5 Speen Street
Framingham, MA 01701
USA
508.872.8200
Twitter: @IDC
idc-insights-community.com
www.idc.com
Copyright Notice
External Publication of IDC Information
and Data — Any IDC information that is
to be used in advertising, press releases,
or promotional materials requires prior
written approval from the appropriate
IDC Vice President or Country Manager.
A draft of the proposed document
should accompany any such request.
IDC reserves the right to deny approval
of external usage for any reason.
Copyright 2017 IDC. Reproduction without
written permission is completely forbidden.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence,
advisory services, and events for the information technology, telecommunications and consumer
technology markets. IDC helps IT professionals, business executives, and the investment
community make fact-based decisions on technology purchases and business strategy. More
than 1,100 IDC analysts provide global, regional, and local expertise on technology and industry
opportunities and trends in over 110 countries worldwide. For 50 years, IDC has provided
strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of
IDG, the world’s leading technology media, research, and events company.
operations and a better bottom line. For CFOs, the ability to gain insight into accurate
accruals and spending fits with the modern mandate to manage an agile, modern, and
cloud-based back office.
Concur Invoice helps businesses avoid costly reconciliation and delays in financial reporting,
in addition to providing them insight into how employees are spending money, so they
can more accurately forecast and manage cash flow. Being proactive to get an automated
accounts payable solution in place helps financial leaders get an accurate view of the
company’s fiscal picture to help inform better business decisions.
In total, Concur empowers organizations to improve the invoice management process
by delivering intuitive end-user experiences, enabling mobility, enhancing compliance,
increasing productivity of business users and employees within the AP department, and
decreasing reliance on IT staff.

More Related Content

What's hot

How Insurers Bring Focus to Digital Initiatives through a Maturity Looking Glass
How Insurers Bring Focus to Digital Initiatives through a Maturity Looking GlassHow Insurers Bring Focus to Digital Initiatives through a Maturity Looking Glass
How Insurers Bring Focus to Digital Initiatives through a Maturity Looking GlassCognizant
 
New Insurance Business Models in the age of Smart Sensors and Internet of Thi...
New Insurance Business Models in the age of Smart Sensors and Internet of Thi...New Insurance Business Models in the age of Smart Sensors and Internet of Thi...
New Insurance Business Models in the age of Smart Sensors and Internet of Thi...Ashok Nare
 
Matter Management and e-Billing Buyers' Guide
Matter Management and e-Billing Buyers' GuideMatter Management and e-Billing Buyers' Guide
Matter Management and e-Billing Buyers' GuideJason Emanis
 
Saving Money Through EDI Integration
Saving Money Through EDI IntegrationSaving Money Through EDI Integration
Saving Money Through EDI IntegrationDicentral Corporation
 
accelerate-outsourcing-agile-approach
accelerate-outsourcing-agile-approachaccelerate-outsourcing-agile-approach
accelerate-outsourcing-agile-approachMichele Miller
 
4 Reasons to Digitize Manufacturing Workflows with No Code Platforms.pptx
4 Reasons to Digitize Manufacturing Workflows with No Code Platforms.pptx4 Reasons to Digitize Manufacturing Workflows with No Code Platforms.pptx
4 Reasons to Digitize Manufacturing Workflows with No Code Platforms.pptxArpitGautam20
 
Is the cloud right for your business?
Is the cloud right for your business?Is the cloud right for your business?
Is the cloud right for your business?Grant Thornton LLP
 
THE IMPORTANCE OF OUTSOURCING DATA ENTRY SERVICES
THE IMPORTANCE OF OUTSOURCING DATA ENTRY SERVICESTHE IMPORTANCE OF OUTSOURCING DATA ENTRY SERVICES
THE IMPORTANCE OF OUTSOURCING DATA ENTRY SERVICESColin Greenlaw
 
Strategic Management and Information Technology Outsourcing
Strategic Management and Information Technology OutsourcingStrategic Management and Information Technology Outsourcing
Strategic Management and Information Technology OutsourcingFarooq Omar
 
IBM Smarter Process (Stockholm)
IBM Smarter Process (Stockholm)IBM Smarter Process (Stockholm)
IBM Smarter Process (Stockholm)IBM Sverige
 
5 Minutes on Modern Finance- Midsize Edition-FINAL
5 Minutes on Modern Finance- Midsize Edition-FINAL 5 Minutes on Modern Finance- Midsize Edition-FINAL
5 Minutes on Modern Finance- Midsize Edition-FINAL Michelle Faletra
 
Tailoring hybrid cloud exec report
Tailoring hybrid cloud exec reportTailoring hybrid cloud exec report
Tailoring hybrid cloud exec reportJose Pena
 
Artificial Intelligence in Financial Services: From Nice to Have to Must Have
Artificial Intelligence in Financial Services: From Nice to Have to Must HaveArtificial Intelligence in Financial Services: From Nice to Have to Must Have
Artificial Intelligence in Financial Services: From Nice to Have to Must HaveCognizant
 
Achieving a Digital Finance Organization in 2020 [Auxis Webinar - December 11...
Achieving a Digital Finance Organization in 2020 [Auxis Webinar - December 11...Achieving a Digital Finance Organization in 2020 [Auxis Webinar - December 11...
Achieving a Digital Finance Organization in 2020 [Auxis Webinar - December 11...Auxis Consulting & Outsourcing
 
Digital Transformation to enhance productivity and improve profitability
Digital Transformation to enhance productivity and improve profitabilityDigital Transformation to enhance productivity and improve profitability
Digital Transformation to enhance productivity and improve profitabilityHuiGuanGan
 
Angelina's Assignment Complete (17 May)
Angelina's Assignment Complete (17 May)Angelina's Assignment Complete (17 May)
Angelina's Assignment Complete (17 May)Angelina Ling
 
IBM Smarter Process (Göteborg)
IBM Smarter Process (Göteborg)IBM Smarter Process (Göteborg)
IBM Smarter Process (Göteborg)IBM Sverige
 

What's hot (20)

How Insurers Bring Focus to Digital Initiatives through a Maturity Looking Glass
How Insurers Bring Focus to Digital Initiatives through a Maturity Looking GlassHow Insurers Bring Focus to Digital Initiatives through a Maturity Looking Glass
How Insurers Bring Focus to Digital Initiatives through a Maturity Looking Glass
 
New Insurance Business Models in the age of Smart Sensors and Internet of Thi...
New Insurance Business Models in the age of Smart Sensors and Internet of Thi...New Insurance Business Models in the age of Smart Sensors and Internet of Thi...
New Insurance Business Models in the age of Smart Sensors and Internet of Thi...
 
Matter Management and e-Billing Buyers' Guide
Matter Management and e-Billing Buyers' GuideMatter Management and e-Billing Buyers' Guide
Matter Management and e-Billing Buyers' Guide
 
Saving Money Through EDI Integration
Saving Money Through EDI IntegrationSaving Money Through EDI Integration
Saving Money Through EDI Integration
 
accelerate-outsourcing-agile-approach
accelerate-outsourcing-agile-approachaccelerate-outsourcing-agile-approach
accelerate-outsourcing-agile-approach
 
4 Reasons to Digitize Manufacturing Workflows with No Code Platforms.pptx
4 Reasons to Digitize Manufacturing Workflows with No Code Platforms.pptx4 Reasons to Digitize Manufacturing Workflows with No Code Platforms.pptx
4 Reasons to Digitize Manufacturing Workflows with No Code Platforms.pptx
 
Why outsource your it infrastructure
Why outsource your it infrastructure Why outsource your it infrastructure
Why outsource your it infrastructure
 
Polymita Corporate
Polymita CorporatePolymita Corporate
Polymita Corporate
 
Graduating from Quickbooks: Intacct Whitepaper
Graduating from Quickbooks: Intacct WhitepaperGraduating from Quickbooks: Intacct Whitepaper
Graduating from Quickbooks: Intacct Whitepaper
 
Is the cloud right for your business?
Is the cloud right for your business?Is the cloud right for your business?
Is the cloud right for your business?
 
THE IMPORTANCE OF OUTSOURCING DATA ENTRY SERVICES
THE IMPORTANCE OF OUTSOURCING DATA ENTRY SERVICESTHE IMPORTANCE OF OUTSOURCING DATA ENTRY SERVICES
THE IMPORTANCE OF OUTSOURCING DATA ENTRY SERVICES
 
Strategic Management and Information Technology Outsourcing
Strategic Management and Information Technology OutsourcingStrategic Management and Information Technology Outsourcing
Strategic Management and Information Technology Outsourcing
 
IBM Smarter Process (Stockholm)
IBM Smarter Process (Stockholm)IBM Smarter Process (Stockholm)
IBM Smarter Process (Stockholm)
 
5 Minutes on Modern Finance- Midsize Edition-FINAL
5 Minutes on Modern Finance- Midsize Edition-FINAL 5 Minutes on Modern Finance- Midsize Edition-FINAL
5 Minutes on Modern Finance- Midsize Edition-FINAL
 
Tailoring hybrid cloud exec report
Tailoring hybrid cloud exec reportTailoring hybrid cloud exec report
Tailoring hybrid cloud exec report
 
Artificial Intelligence in Financial Services: From Nice to Have to Must Have
Artificial Intelligence in Financial Services: From Nice to Have to Must HaveArtificial Intelligence in Financial Services: From Nice to Have to Must Have
Artificial Intelligence in Financial Services: From Nice to Have to Must Have
 
Achieving a Digital Finance Organization in 2020 [Auxis Webinar - December 11...
Achieving a Digital Finance Organization in 2020 [Auxis Webinar - December 11...Achieving a Digital Finance Organization in 2020 [Auxis Webinar - December 11...
Achieving a Digital Finance Organization in 2020 [Auxis Webinar - December 11...
 
Digital Transformation to enhance productivity and improve profitability
Digital Transformation to enhance productivity and improve profitabilityDigital Transformation to enhance productivity and improve profitability
Digital Transformation to enhance productivity and improve profitability
 
Angelina's Assignment Complete (17 May)
Angelina's Assignment Complete (17 May)Angelina's Assignment Complete (17 May)
Angelina's Assignment Complete (17 May)
 
IBM Smarter Process (Göteborg)
IBM Smarter Process (Göteborg)IBM Smarter Process (Göteborg)
IBM Smarter Process (Göteborg)
 

Similar to Ww idc report the business value of concur invoice (fdm)

4 best practices_using finance applications for better process efficiencies
4  best practices_using finance applications for better process efficiencies4  best practices_using finance applications for better process efficiencies
4 best practices_using finance applications for better process efficienciesKaizenlogcom
 
4 best practices_using finance applications for better process efficiencies
4  best practices_using finance applications for better process efficiencies4  best practices_using finance applications for better process efficiencies
4 best practices_using finance applications for better process efficienciesKaizenlogcom
 
4 best practices_using finance applications for better process efficiencies
4  best practices_using finance applications for better process efficiencies4  best practices_using finance applications for better process efficiencies
4 best practices_using finance applications for better process efficienciesKaizenlogcom
 
A model for winning in os market
A model for winning in os marketA model for winning in os market
A model for winning in os marketSathyam Jayathe
 
Five Financial Industry Objectives for Catalyzing Order from Chaos
Five Financial Industry Objectives for Catalyzing Order from ChaosFive Financial Industry Objectives for Catalyzing Order from Chaos
Five Financial Industry Objectives for Catalyzing Order from ChaosCognizant
 
Accenture_Rethink_the_Digital_Prop
Accenture_Rethink_the_Digital_PropAccenture_Rethink_the_Digital_Prop
Accenture_Rethink_the_Digital_PropJessica Townsend
 
Fast-Track to Future-Ready Finance Operations
Fast-Track to Future-Ready Finance OperationsFast-Track to Future-Ready Finance Operations
Fast-Track to Future-Ready Finance OperationsAccenture Operations
 
A model for winning in OS market
A model for winning in OS marketA model for winning in OS market
A model for winning in OS marketSunil Nair
 
Policy Administration Modernization: Four Paths for Insurers
Policy Administration Modernization: Four Paths for InsurersPolicy Administration Modernization: Four Paths for Insurers
Policy Administration Modernization: Four Paths for InsurersCognizant
 
ERP For Project Focused Organizations
ERP For Project Focused OrganizationsERP For Project Focused Organizations
ERP For Project Focused Organizationsarjencornelisse
 
200708_E Strategy Managing Transformation effectively
200708_E Strategy Managing Transformation effectively200708_E Strategy Managing Transformation effectively
200708_E Strategy Managing Transformation effectivelyJean-Claude DE VERA
 
Cloud based accounting
Cloud based accountingCloud based accounting
Cloud based accountingMike McAra
 
Achieving Digital Dexterity
Achieving Digital DexterityAchieving Digital Dexterity
Achieving Digital DexterityCognizant
 
Solution brochure: Revenue Recognition
Solution brochure: Revenue RecognitionSolution brochure: Revenue Recognition
Solution brochure: Revenue RecognitionNakisa Financials
 
General Workflow an introduction
General Workflow an introductionGeneral Workflow an introduction
General Workflow an introductionNarender Singh
 
Co pilot of the business
Co pilot of the businessCo pilot of the business
Co pilot of the businessikaro1970
 
An Introduction to econsys
An Introduction to econsysAn Introduction to econsys
An Introduction to econsysAndrew Redfern
 
Maconomy Enterprise Project Optimization (anno 1999)
Maconomy Enterprise Project Optimization (anno 1999)Maconomy Enterprise Project Optimization (anno 1999)
Maconomy Enterprise Project Optimization (anno 1999)Stefan Kim (Grahn)
 
Business planning in digital age
Business planning in digital ageBusiness planning in digital age
Business planning in digital ageInfosys Consulting
 

Similar to Ww idc report the business value of concur invoice (fdm) (20)

4 best practices_using finance applications for better process efficiencies
4  best practices_using finance applications for better process efficiencies4  best practices_using finance applications for better process efficiencies
4 best practices_using finance applications for better process efficiencies
 
4 best practices_using finance applications for better process efficiencies
4  best practices_using finance applications for better process efficiencies4  best practices_using finance applications for better process efficiencies
4 best practices_using finance applications for better process efficiencies
 
4 best practices_using finance applications for better process efficiencies
4  best practices_using finance applications for better process efficiencies4  best practices_using finance applications for better process efficiencies
4 best practices_using finance applications for better process efficiencies
 
A model for winning in os market
A model for winning in os marketA model for winning in os market
A model for winning in os market
 
Five Financial Industry Objectives for Catalyzing Order from Chaos
Five Financial Industry Objectives for Catalyzing Order from ChaosFive Financial Industry Objectives for Catalyzing Order from Chaos
Five Financial Industry Objectives for Catalyzing Order from Chaos
 
Accenture_Rethink_the_Digital_Prop
Accenture_Rethink_the_Digital_PropAccenture_Rethink_the_Digital_Prop
Accenture_Rethink_the_Digital_Prop
 
Fast-Track to Future-Ready Finance Operations
Fast-Track to Future-Ready Finance OperationsFast-Track to Future-Ready Finance Operations
Fast-Track to Future-Ready Finance Operations
 
A model for winning in OS market
A model for winning in OS marketA model for winning in OS market
A model for winning in OS market
 
Policy Administration Modernization: Four Paths for Insurers
Policy Administration Modernization: Four Paths for InsurersPolicy Administration Modernization: Four Paths for Insurers
Policy Administration Modernization: Four Paths for Insurers
 
ERP For Project Focused Organizations
ERP For Project Focused OrganizationsERP For Project Focused Organizations
ERP For Project Focused Organizations
 
200708_E Strategy Managing Transformation effectively
200708_E Strategy Managing Transformation effectively200708_E Strategy Managing Transformation effectively
200708_E Strategy Managing Transformation effectively
 
Cloud based accounting
Cloud based accountingCloud based accounting
Cloud based accounting
 
Achieving Digital Dexterity
Achieving Digital DexterityAchieving Digital Dexterity
Achieving Digital Dexterity
 
Solution brochure: Revenue Recognition
Solution brochure: Revenue RecognitionSolution brochure: Revenue Recognition
Solution brochure: Revenue Recognition
 
Brochure: Revenue Recognition
Brochure: Revenue RecognitionBrochure: Revenue Recognition
Brochure: Revenue Recognition
 
General Workflow an introduction
General Workflow an introductionGeneral Workflow an introduction
General Workflow an introduction
 
Co pilot of the business
Co pilot of the businessCo pilot of the business
Co pilot of the business
 
An Introduction to econsys
An Introduction to econsysAn Introduction to econsys
An Introduction to econsys
 
Maconomy Enterprise Project Optimization (anno 1999)
Maconomy Enterprise Project Optimization (anno 1999)Maconomy Enterprise Project Optimization (anno 1999)
Maconomy Enterprise Project Optimization (anno 1999)
 
Business planning in digital age
Business planning in digital ageBusiness planning in digital age
Business planning in digital age
 

Recently uploaded

8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCRashishs7044
 
Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...Americas Got Grants
 
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCRashishs7044
 
Chapter 9 PPT 4th edition.pdf internal audit
Chapter 9 PPT 4th edition.pdf internal auditChapter 9 PPT 4th edition.pdf internal audit
Chapter 9 PPT 4th edition.pdf internal auditNhtLNguyn9
 
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City GurgaonCall Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaoncallgirls2057
 
Memorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQMMemorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQMVoces Mineras
 
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCRashishs7044
 
International Business Environments and Operations 16th Global Edition test b...
International Business Environments and Operations 16th Global Edition test b...International Business Environments and Operations 16th Global Edition test b...
International Business Environments and Operations 16th Global Edition test b...ssuserf63bd7
 
Financial-Statement-Analysis-of-Coca-cola-Company.pptx
Financial-Statement-Analysis-of-Coca-cola-Company.pptxFinancial-Statement-Analysis-of-Coca-cola-Company.pptx
Financial-Statement-Analysis-of-Coca-cola-Company.pptxsaniyaimamuddin
 
Market Sizes Sample Report - 2024 Edition
Market Sizes Sample Report - 2024 EditionMarket Sizes Sample Report - 2024 Edition
Market Sizes Sample Report - 2024 EditionMintel Group
 
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deckPitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deckHajeJanKamps
 
Guide Complete Set of Residential Architectural Drawings PDF
Guide Complete Set of Residential Architectural Drawings PDFGuide Complete Set of Residential Architectural Drawings PDF
Guide Complete Set of Residential Architectural Drawings PDFChandresh Chudasama
 
Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024Kirill Klimov
 
Call Girls Contact Number Andheri 9920874524
Call Girls Contact Number Andheri 9920874524Call Girls Contact Number Andheri 9920874524
Call Girls Contact Number Andheri 9920874524najka9823
 
Darshan Hiranandani [News About Next CEO].pdf
Darshan Hiranandani [News About Next CEO].pdfDarshan Hiranandani [News About Next CEO].pdf
Darshan Hiranandani [News About Next CEO].pdfShashank Mehta
 
Organizational Structure Running A Successful Business
Organizational Structure Running A Successful BusinessOrganizational Structure Running A Successful Business
Organizational Structure Running A Successful BusinessSeta Wicaksana
 
FULL ENJOY Call girls in Paharganj Delhi | 8377087607
FULL ENJOY Call girls in Paharganj Delhi | 8377087607FULL ENJOY Call girls in Paharganj Delhi | 8377087607
FULL ENJOY Call girls in Paharganj Delhi | 8377087607dollysharma2066
 
Cybersecurity Awareness Training Presentation v2024.03
Cybersecurity Awareness Training Presentation v2024.03Cybersecurity Awareness Training Presentation v2024.03
Cybersecurity Awareness Training Presentation v2024.03DallasHaselhorst
 

Recently uploaded (20)

8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
 
Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...
 
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
 
Chapter 9 PPT 4th edition.pdf internal audit
Chapter 9 PPT 4th edition.pdf internal auditChapter 9 PPT 4th edition.pdf internal audit
Chapter 9 PPT 4th edition.pdf internal audit
 
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City GurgaonCall Us 📲8800102216📞 Call Girls In DLF City Gurgaon
Call Us 📲8800102216📞 Call Girls In DLF City Gurgaon
 
Memorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQMMemorándum de Entendimiento (MoU) entre Codelco y SQM
Memorándum de Entendimiento (MoU) entre Codelco y SQM
 
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
8447779800, Low rate Call girls in New Ashok Nagar Delhi NCR
 
International Business Environments and Operations 16th Global Edition test b...
International Business Environments and Operations 16th Global Edition test b...International Business Environments and Operations 16th Global Edition test b...
International Business Environments and Operations 16th Global Edition test b...
 
Financial-Statement-Analysis-of-Coca-cola-Company.pptx
Financial-Statement-Analysis-of-Coca-cola-Company.pptxFinancial-Statement-Analysis-of-Coca-cola-Company.pptx
Financial-Statement-Analysis-of-Coca-cola-Company.pptx
 
Market Sizes Sample Report - 2024 Edition
Market Sizes Sample Report - 2024 EditionMarket Sizes Sample Report - 2024 Edition
Market Sizes Sample Report - 2024 Edition
 
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deckPitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
 
Call Us ➥9319373153▻Call Girls In North Goa
Call Us ➥9319373153▻Call Girls In North GoaCall Us ➥9319373153▻Call Girls In North Goa
Call Us ➥9319373153▻Call Girls In North Goa
 
Guide Complete Set of Residential Architectural Drawings PDF
Guide Complete Set of Residential Architectural Drawings PDFGuide Complete Set of Residential Architectural Drawings PDF
Guide Complete Set of Residential Architectural Drawings PDF
 
Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024
 
Call Girls Contact Number Andheri 9920874524
Call Girls Contact Number Andheri 9920874524Call Girls Contact Number Andheri 9920874524
Call Girls Contact Number Andheri 9920874524
 
No-1 Call Girls In Goa 93193 VIP 73153 Escort service In North Goa Panaji, Ca...
No-1 Call Girls In Goa 93193 VIP 73153 Escort service In North Goa Panaji, Ca...No-1 Call Girls In Goa 93193 VIP 73153 Escort service In North Goa Panaji, Ca...
No-1 Call Girls In Goa 93193 VIP 73153 Escort service In North Goa Panaji, Ca...
 
Darshan Hiranandani [News About Next CEO].pdf
Darshan Hiranandani [News About Next CEO].pdfDarshan Hiranandani [News About Next CEO].pdf
Darshan Hiranandani [News About Next CEO].pdf
 
Organizational Structure Running A Successful Business
Organizational Structure Running A Successful BusinessOrganizational Structure Running A Successful Business
Organizational Structure Running A Successful Business
 
FULL ENJOY Call girls in Paharganj Delhi | 8377087607
FULL ENJOY Call girls in Paharganj Delhi | 8377087607FULL ENJOY Call girls in Paharganj Delhi | 8377087607
FULL ENJOY Call girls in Paharganj Delhi | 8377087607
 
Cybersecurity Awareness Training Presentation v2024.03
Cybersecurity Awareness Training Presentation v2024.03Cybersecurity Awareness Training Presentation v2024.03
Cybersecurity Awareness Training Presentation v2024.03
 

Ww idc report the business value of concur invoice (fdm)

  • 1. Document #US42246116 © 2017 IDC. www.idc.com | Page 1 IDC White Paper | The Business Value of Concur Invoice TheBusinessValueofConcurInvoice Executive Summary Cloud software is redefining how businesses engage with employees, customers, and suppliers. The ability to deploy business-ready solutions that improve back-office efficiency and reduce time-to -cash is making businesses of all sizes far more competitive. In fact, companies risk being left behind if they do not modernize their business processes with cloud software. Invoice management software is a perfect example as purpose-built hosted applications help reduce accounts receivable turnover, improve company cash flow, and provide a more accurate picture of a company’s finances. This white paper analyzes the costs and benefits associated with Concur Invoice based on in-depth interviews with eight organizations that use Concur Invoice to manage and process vendor invoices. IDC’s study has revealed that since implementing Concur Invoice, the surveyed organizations have made their invoice management processes more efficient and effective. With Concur Invoice, these organizations have automated and simplified accounts payable (AP) workflows, enhanced the user experience, encouraged mobility in the AP process, and improved compliance levels. IDC projects that for a five-year period, these organizations will achieve benefits worth a discounted average of $2.75 million ($54,647 per 1,000 invoices) and a return on investment (ROI) of 505%. Highlights of the benefits realized by these organizations include: »» Attaining efficiencies in AP workflows, including spending 68% less time processing invoices »» Automating the invoice management process to significantly improve compliance • 99% of employees using Concur Invoice are complying with their companies’ procurement policies, which improved 14% over the five years • The number of delayed payments to vendors has decreased by 67% »» Enhancing the user experience in handling invoices by mobilizing the invoice management process (The surveyed organizations increased their productivity by an average of 11% as a result of using Concur Invoice on their mobile devices) »» Reducing IT staff time required to manage invoice management solutions by 29% Sponsored by: Concur Authors: Robert P. Mahowald Matthew Marden February 2017 Business Value Highlights 505% five-year ROI 5-month payback period $15,418 average annual benefits per 1,000 invoices 34% decrease in the time spent on tasks related to invoice management Average time to pay vendors accelerated by 51% 45% decrease in the number of questions from vendors to the accounts payable department 11% increase in LOB staff productivity resulting from mobile enablement
  • 2. Document #US42246116 © 2017 IDC. www.idc.com | Page 2 IDC White Paper | The Business Value of Concur Invoice Situation Overview Driving Business Agility Modern organizations are looking at a variety of cloud-based technology solutions to lower their capital expense profile, increase employee productivity, lower costs for managing operational functions, and drive new capabilities that have a direct impact on business performance. Similar to an ecommerce firm using cloud-based compute capacity to add capacity to manage holiday orders, a project team using applications to collaborate across geographies, or mobile systems that link field-based customer payment collection directly to accounting systems, cloud technology has leveled the competitive landscape. Many smaller organizations can now effectively compete with larger enterprises without having to build, deploy, and maintain costly on premise technology systems. Company executives across the business can test-drive a wide variety of software packages and find the package that fits their specific project need. IDC views cloud technology as a critical business priority rather than just another organizational function because the business environment is much more competitive than it was even five years ago. Furthermore, cloud-based technology has altered the charters for senior executive roles, particularly the chief financial officer (CFO). Today’s Chief Financial Officer Today’s CFO faces numerous challenges. Investors’expectations (and CEOs’demands) have never been higher. Managing a diverse workforce has never been more challenging because the cost of inefficient financial operations, along with employee turnover and lost productivity, is greater than ever in this hyper-competitive environment that rewards sustained agility. These challenges are added to the historical CFO mandates around controlling operational costs and reporting out financial results that are in line with an ever‑growing set of industry compliance regulations. With these issues in mind, forward-thinking CFOs are already engaging with IT solutions that are: »» Business ready: These solutions can scale to accommodate organizations of any size and link into existing accounting and ERP systems. Oftentimes, these are secure cloud-based solutions that fit within the CIO’s IT policy framework and are cost- effective and easy to deploy across the organization. »» Capable of providing greater business performance visibility and driving smarter decision making: Purpose-built solutions can more effective than manual processes when it comes to quick automation and deeper reporting on a wider set of business metrics. What used to take days or weeks can now take hours. In addition, when 1 For more details, see www.idc.com/prodserv/3rd-platform.
  • 3. Document #US42246116 © 2017 IDC. www.idc.com | Page 3 IDC White Paper | The Business Value of Concur Invoice utilizing a predictive solution that offers more than automation, executives are armed with the insights to identify business opportunities that never existed before. »» User-friendly: As more financial performance rests with reducing accounts receivable turnover and achieving greater efficiency in cash flow management, businesses need to ensure that finance and accounting staff, as well as their employees, are able to quickly and accurately execute a modern, mobile invoicing process. Offering employees modern cloud-based solutions they can use anywhere and anytime leads to higher financial performance and user satisfaction, which are key to maintaining an up-to-date view on an organization’s fiscal health. Invoice Management Overview Invoice management is directly linked to an organization’s fiscal health because it directly involves collecting money owed to the company by its debtors. Many times, organizations that start with a manual invoicing process continue to support this method—even as company size and complexity grow—often to the point where workarounds, such as using Excel templates for invoices and physical reconciliation, are no longer efficient. Further problems arise when organizations start to reconcile invoices from remote offices in other countries or regions or require general ledger reconciliation that can feed into compliance documentation. Early invoice management systems were focused on AP automation, essentially back-office processes designed to eliminate paper — applying matching rules with OCR and supporting the accounts payable department. The user experience was not important, and engaging the business was not part of the plan. More modern systems began to engage business leaders and rank-and-file users with the assumption that there was significant non-PO spend not under management, and improving the process cannot be accomplished with a shared services center disconnected from the business. Manual intervention has been absolutely necessary to look at out-of-policy exceptions and to determine whether the invoice is“okay to pay.”To get that engagement, modern invoice management systems need to have a clear focus on the interface and employee engagement with the system. For the large amount of spend that is not preauthorized is not based on a contract, and requires some business input to be resolved; the best systems engage employees and spend managers in the process of AP automation. The results are better visibility and insight into non-PO spend, P-Card spend, and corporate card spend and the ability to“meet employees where they are”— at the level of spend under management, which is comfortable to the company based on its risk profile and preference. The best systems offer that level of flexibility and capture that level of detail and can do so in any industry or company size segment.
  • 4. Document #US42246116 © 2017 IDC. www.idc.com | Page 4 IDC White Paper | The Business Value of Concur Invoice The Business Value of Concur Invoice Study Demographics IDC interviewed eight customers about their use of Concur Invoice. The organizations interviewed vary in size and represent various industries — education, hospitality, insurance, legal, nonprofit, and technology. Four of the surveyed organizations are based in the United States, and the remaining four are based in Hong Kong, Australia, the United Kingdom, and Canada. By size, the interviewed organizations ranged from a small academic institution with 45 employees to a large, multinational firm with 230,000 employees. The surveyed organizations had an average of 31,459 employees, and the median number of employees for these organizations was 290. The number of Concur Invoice users ranged from 5 to 4,000, with an average of 782 users. Study participants process an average of 50,269 invoices with Concur and have been using Concur Invoice for two and a half years on average. Further details regarding the firmographics of the surveyed organizations are highlighted in Table 1. TABLE 1 Firmographics of Interviewed Organizations Firmographics Average Median Range Number of employees 31,459 290 45–230,000 Annual revenue $28.76B $2.75B $18.3M–157B Number of IT staff 1,045 19 3–8,000 Number of Concur Invoice users 782 53 5–4,000 Number of invoices processed per year with Concur Invoice 50,269 26,000 11,700–195,000 Deployed Concur Invoice since (months) 30 15 7–89 Regions Australia, Asia, Europe, and North America Industries Education, hospitality, insurance, legal, nonprofit, and technology Source:IDC,2016
  • 5. Document #US42246116 © 2017 IDC. www.idc.com | Page 5 IDC White Paper | The Business Value of Concur Invoice Financial Benefit Analysis The surveyed organizations implemented Concur Invoice because they needed an efficient, automated, and faster way to submit, review, and process invoices. The organizations described making their invoice management processes more effective and efficient with Concur, thereby achieving substantial value in their investment. IDC projects that in-total, the surveyed organizations will achieve benefits equivalent to $775,041 ($15,418 per 1,000 invoices) per year over a five-year period in the following two categories: »» Business productivity benefits: The surveyed organizations have benefited from an increase in user productivity, staff efficiencies for teams involved in processing invoices, and cost reductions stemming from enhanced compliance. IDC projects that on average, annual business benefits will equate to $751,682 per organization or $14,953 for every 1,000 invoices processed. The first three columns in Figure 1 highlight the categories of business benefits that are attained by the surveyed organizations. »» IT staff productivity benefits: Concur Invoice has brought efficiencies to IT departments at the surveyed organizations by reducing the time required to manage invoice management technology. On average, IT staff productivity gains are equivalent to $23,359 per organization or $465 for every 1,000 invoices processed. FIGURE 1 Average Annual Benefits per 1,000 Invoices $7,537 $6,905 $511 $465 $1,000 $0 $2,000 $4,000 $3,000 $5,000 $6,000 $7,000 $8,000 ($per1,000invoicesperyear) Business productivity benefits Invoicing team-related benefits Invoicing-related cost reductions IT staff productivity benefits Source:IDC,2016
  • 6. Document #US42246116 © 2017 IDC. www.idc.com | Page 6 IDC White Paper | The Business Value of Concur Invoice Business Benefits of Concur Invoice Organizations using Concur Invoice reported achieving substantial business value by streamlining their invoice management processes. Based on the interviews with these organizations, IDC projects that they will achieve annual business benefits worth $751,682 per organization or $14,953 for every 1,000 invoices processed by: »» Improving business user productivity: Thanks to automation, ease of use, and availability on mobile devices, various groups of employees are saving substantial time by using Concur Invoice to submit and review invoices. On average, these productivity benefits are equivalent to $378,887 per organization or $7,537 for every 1,000 invoices processed. »» Requiring less time to manage and process invoices: Concur Invoice enables staff responsible for handling and processing invoices to be more efficient. The benefit includes a decline in the time spent on invoice-related data entry, processing vendor payments, reviewing invoices, and conducting audits. In total, benefits attained by staff involved in the invoice management cycle are equivalent to $347,100 per organization or $6,905 for every 1,000 invoices processed. »» Reducing costs associated with the processing of invoices: By deploying Concur Invoice, the surveyed organizations have reduced costs associated with the AP process by enhancing compliance, avoiding penalties for late payments, and attaining discounts from vendors by making early payments. These benefits are equivalent to $25,695 per organization or $511 for every 1,000 invoices processed. Enhancing the End-User Experience Concur Invoice has had a significant impact on the productivity of line-of-business employees who are involved in some stage of the invoice management cycle. The most substantial impact of Concur Invoice has been to give these individuals the ability to submit, review, approve, and process invoices on mobile devices: »» Enabling mobility has improved the productivity and enhanced the experience for managers who are responsible for approving invoices: : “It gives the approvers better visibility because they can see what’s coming through as they get order notifications and reminders. It definitely saves time on approvals. I would say their productivity from using Concur on mobile devices has increased by 10 to 20%.” »» Employees can submit and monitor invoices while on the road: “Most of our employees travel a lot, so it’s easier for them to submit all of their invoices and expense
  • 7. Document #US42246116 © 2017 IDC. www.idc.com | Page 7 IDC White Paper | The Business Value of Concur Invoice claims through the Concur mobile app. Previously, they used to send all of the invoices through emails, and they had to repeatedly check on the status of the invoice. Now, they can just log in to Concur and see what the status of the invoice is and whether it’s pending approval or has been paid.” »» Employee satisfaction has improved: “It has definitely saved employees time because otherwise they would be sitting in a taxi doing nothing. They used to have to submit invoices when they were back in the office and are now more productive with their time. They are able to have more visibility, and visibility is the first step in managing costs. Also, staff morale has gone up. We can retain people because we have better systems and processes.” In total, mobile enablement of the invoice management process has led to an 11% increase in productivity, resulting in 214 hours of additional productive employee time every year for every 1,000 invoices processed. Further details highlighting the benefits of mobile enablement are provided in Table 2. TABLE 2 Impact of Mobility on Staff Productivity Key Metrics Analyzed Number of users impacted 53 Productivity increase 11% Hours gained per 1,000 invoices per year 214 FTE impact 5.7 Annual benefits per organization $373,935 Annual benefits per 1,000 invoices $7,439 Source:IDC,2016 Reducing the Time Required to Process Invoices Through automation, ease of use, and lowering the risk of error, Concur Invoice has enabled substantial time savings for staff responsible for supporting the invoice management cycle. Staff within the surveyed organizations are spending an average of 34% less time on tasks related to the invoice management cycle such as invoice-related data entry, managing
  • 8. Document #US42246116 © 2017 IDC. www.idc.com | Page 8 IDC White Paper | The Business Value of Concur Invoice vendor payments, performing audits, and invoice processing. Further details highlighting the impact of Concur Invoice on invoice-related tasks are provided in Table 3. The efficiencies in conducting day-to-day invoice management–related tasks have reduced the time required to process an invoice. The total processing time per invoice has dropped by 53%, and staff time required to process one invoice has decreased by 64%. Table 4 highlights the impact of Concur Invoice on the efficiency of invoice processing. The surveyed organizations have achieved time savings because Concur Invoice has: »» Increased accountant productivity: “Concur has improved our accounting Impact of Concur Invoice on the Efficiency of Invoice Processing Key Metrics Analyzed Before Concur Invoice With Concur Invoice Difference Change (%) Total processing time per invoice (days) 8 4 4 53 Staff time required per invoice processed (minutes) 12 4 8 64 TABLE 4 Source:IDC,2016 Impact of Concur Invoice on Invoice-Related Tasks Key Metrics Analyzed Before Concur Invoice (Hours per 1,000 Invoices per Year) With Concur Invoice (Hours per 1,000 Invoices per Year) Difference Change (%) Value per 1,000 Invoices per Year ($) Invoice-related data entry 43 30 13 30 441 Managing vendor payments 289 185 104 36 3,602 Invoice processing 101 32 69 68 2,397 Invoice audit 150 136 14 9 465 Total impact 582 384 194 34 6,905 Source:IDC,2016 TABLE 3
  • 9. Document #US42246116 © 2017 IDC. www.idc.com | Page 9 IDC White Paper | The Business Value of Concur Invoice organization’s productivity during the month-end period because it enables thousands of accountants across the globe to analyze their monthly spend and enables greater accuracy in our accruals.” »» Empowered the business user to complete formalities before submitting invoices: “The person who is obtaining the service is now responsible for submitting the invoice into Concur, so finance can process the payment once he or she ensures the charge is accurate. Finance then confirms that the invoice is accurate and follows company policy before authorizing the payment.” »» Reduced the number of queries from vendors to the AP department: “We’ve seen calls from vendors drop. This has created more value-added time for our customer service staff to take on more jobs — probably a 50% drop in the number of questions coming in and a 75% drop in the time spent compared with looking for the physical paperwork.” »» Streamlined the approval process: “We had a problem because we had a manual authorization process and had to send invoices to the CFO for authorization. If there was any doubt, we had to go back to the supplier and then correct it and go through the process again. Now, the whole thing is in one place, so we just need to get the invoice into Concur, and it will go through the appropriate authorization levels.” Reducing Costs Associated with Invoice Processing by Improving Compliance The surveyed organizations have reduced costs that they previously incurred because of lack of compliance and late payments to vendors. Since deploying Concur Invoice, the surveyed organizations have been able to avoid penalties and interest fees on late payments. Vendors are receiving payments 51% faster, and the number of delayed payments have been reduced by 67%. In addition, with Concur Invoice automating the invoice management process, these organizations have been able to minimize the risk of human error and have facilitated greater compliance of company policies. On average, the organizations have witnessed a 32% increase in the percentage of employees following their procurement policies (see Table 5). As one organization highlighted: “There definitely is a change since implementing Concur Invoice. 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. Concur has enabled 100% compliance because it ensures that the right person is providing the signature for approvals.”
  • 10. Document #US42246116 © 2017 IDC. www.idc.com | Page 10 IDC White Paper | The Business Value of Concur Invoice The surveyed organizations attributed the increase in compliance to the following factors: »» Improving the accuracy of transactions by automating the invoice management process: “The approval process has been tightened, and we now have 100% compliance. Fraud has been reduced. In addition, it has become easier to bring new vendors on board since we can input the information electronically. This ensures that we’re paying the right vendors.” »» Reducing coding errors: “Before Concur, we had a 10% general ledger coding error rate, and that results in people having to do journal entries after the transaction to correct the error. We’ve reduced these errors by over 90% because we’re not relying on humans to know and remember all the codes. With Concur Invoice, they automatically populate.” »» Facilitating timely payment to vendors: “Concur Invoice has helped us with compliance because we now pay vendors on time and based on their payment terms. With Concur, managers know that there are certain bills that need to be paid right away and can prioritize when it comes to approval.” Fewer errors associated with the invoice management process and timely payment to vendors have reduced the number of questions from vendors to the AP department (see Table 6). Impact of Concur Invoice on Compliance and Time Required to Pay Vendors Key Metrics Analyzed Before Concur Invoice With Concur Invoice Change (%) Percentage of employees following policies regarding external spending on vendors 75 99 32 Average time to pay vendors (days) 12 6 51 Number of delayed payments per year 8 3 67 TABLE 5 Source:IDC,2016
  • 11. Document #US42246116 © 2017 IDC. www.idc.com | Page 11 IDC White Paper | The Business Value of Concur Invoice TABLE 6 Optimizing the Vendor Payment Process Improvement (%) Reduction in the number of questions from vendors to the AP department 45 Reduction in time responding to questions from vendors 55 Source:IDC,2016 IT Staff Productivity Benefits of Concur Invoice Apart from the business benefits attained by the surveyed organizations, Concur Invoice has had an impact on the IT staff time required to administer invoice management technology. Moving to a cloud- based invoice management solution has resulted in significant time savings for the IT departments of the surveyed organizations. For example, one organization noted how it no longer requires IT staff to administer its invoice management solution: “We don’t involve the IT staff in the Concur process. After we implemented Concur, we don’t need any IT support. It’s very user-friendly, and it’s an online tool, so there’s no need for IT support.” Compared with their previous invoice management solutions, organizations require 29% less IT staff time to administer Concur Invoice (see Figure 2). FIGURE 2 IT Staff Time Required to Administer Concur Invoice Previous Solution Concur Invoice 33 23 5 0 10 20 15 25 30 35 (Hoursper1,000invoicesperyear) Source:IDC,2016
  • 12. Document #US42246116 © 2017 IDC. www.idc.com | Page 12 IDC White Paper | The Business Value of Concur Invoice ROI Analysis IDC uses a three-step methodology for conducting ROI analysis: »» Gather quantitative benefit information during the interviews using a before-and- after assessment. In this study, the benefits analyzed are centered on the increase in user productivity, efficiencies gained in the AP process, value of enabling greater compliance, and IT staff productivity. »» Create a complete investment (five-year total cost analysis) profile based on the interviews. Investments go beyond just the solution’s hardware and software. IT departments spent staff time installing and configuring the new solution, removing old equipment and/or software, and then maintaining the new solution. Ancillary costs directly related to the solution, such as user input to planning; outsourced installation, configuration, or maintenance; and IT staff or user training, are also included in the analysis. »» Calculate the ROI and payback period. IDC conducts a depreciated cash flow analysis of the benefits and investments over a five-year period. Because the full benefits of the solution are not available during the deployment period, IDC prorates the benefits on a monthly basis and subtracts the appropriate amount for the deployment time from the first-year savings. IDC uses a discounted cash flow methodology to calculate the ROI and payback period. ROI is the ratio of the net present value (NPV) of the net benefits and the discounted investment. Payback period is the point at which cumulative benefits equal the initial investment. IDC uses a standard 12% discount factor – which allows for risk and the missed opportunity cost that could have been realized using that capital. IDC’s five-year ROI analysis shows that the organizations surveyed in this study will spend $454,187 deploying and maintaining Concur over five years and can expect to achieve $2.75 million in benefits for an NPV of $2.29 million. This would result in a five-year ROI of 505% and a payback period of five months (see Table 7).
  • 13. Document #US42246116 © 2017 IDC. www.idc.com | Page 13 IDC White Paper | The Business Value of Concur Invoice TABLE 7 Five-Year ROI Analysis Five-Year ROI Analysis Average per Organization Average per 1,000 Invoices Benefit (discounted) $2,747,064 $54,647 Investment (discounted) $454,187 $9,035 Net present value (NPV) $2,292,877 $45,612 Return on investment (ROI) 505% 505% Payback period 5 months 5 months Discount factor 12% 12% Source:IDC,2016 Challenges/Opportunities During any market transformation, there will be clear challenges and opportunities. For Concur, challenges could come from point product start-up software providers that can offer simple invoice forms and basic automation. These application vendors, often offering consumerized user experiences, can drive simple functions and constant updates that may seem to be the same as what Concur offers. Other challenges could come from maintaining an organizational mindset that paper- or Excel-based invoice management is“good enough,”even as finance staff are tasked with spending more time reconciling a larger pool of invoices against the general ledger. That said, Concur offers an end-to-end ecosystem of first-party and third-party capabilities an organization can engage with as it grows. Concur offers seamless integration into cloud-based accounting and existing ERP solutions in the client environment. Concur has developed a set of predictive capabilities that can be utilized on a cost-effective basis to proactively manage a workforce-wide portfolio that includes invoicing and expense-related functions, such as expense reporting. Conclusion Automating invoicing not only helps businesses gain efficiency and productivity, but also provides big-picture data visibility and increased employee satisfaction for more effective
  • 14. Document #US42246116 © 2017 IDC. www.idc.com | Page 14 IDC White Paper | The Business Value of Concur Invoice IDC Global Headquarters 5 Speen Street Framingham, MA 01701 USA 508.872.8200 Twitter: @IDC idc-insights-community.com www.idc.com Copyright Notice External Publication of IDC Information and Data — Any IDC information that is to be used in advertising, press releases, or promotional materials requires prior written approval from the appropriate IDC Vice President or Country Manager. A draft of the proposed document should accompany any such request. IDC reserves the right to deny approval of external usage for any reason. Copyright 2017 IDC. Reproduction without written permission is completely forbidden. About IDC International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1,100 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries worldwide. For 50 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company. operations and a better bottom line. For CFOs, the ability to gain insight into accurate accruals and spending fits with the modern mandate to manage an agile, modern, and cloud-based back office. Concur Invoice helps businesses avoid costly reconciliation and delays in financial reporting, in addition to providing them insight into how employees are spending money, so they can more accurately forecast and manage cash flow. Being proactive to get an automated accounts payable solution in place helps financial leaders get an accurate view of the company’s fiscal picture to help inform better business decisions. In total, Concur empowers organizations to improve the invoice management process by delivering intuitive end-user experiences, enabling mobility, enhancing compliance, increasing productivity of business users and employees within the AP department, and decreasing reliance on IT staff.