SAP Concur Invoice Management
Invoice management for Public Sector Companies is no less than a mission. Scanning through a huge amount of vouchers, arranging the invoice, making sure of accuracy etc. is a tedious task to complete. This is mostly because Public Sector Companies still employ the manual method of invoice management or an invoice management system that is incapable of streamlining the process and saving time. SAP Concur Invoice automates your invoices and integrates invoices with T&E payments into a single system for managing all your business spending. By using SAP Concur Invoice management solution you can easily process supplier invoices and make payments. It gives you the ability to capture invoice data quickly and effortlessly with any of the following five methods:
- E-Invoicing
- OCR (Optical Character Recognition) Scanning
- Scan and Key
- Supplier Network
- Outsourced Service
With Concur’s outsourcing option, Invoice Capture, your invoices are scanned at a central location. After the data is accurately captured, it is sent for approval. And because Concur offers an instant approval process, settlement of the expense claim is done much faster than you’d expect.
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Quickly capture supplier invoices in any format
Public Sector Companies can free their accounts payable staff from time-consuming data entry with OCR invoice processing. Optical character recognition technology from SAP Concur uses machine learning to scan mailed, faxed, or printed invoices to automatically populate a payment request. Concur Invoice also captures e-invoices, whether from suppliers, emails, or payment systems.
Faster processing for a timely picture of spending
Manually processing an invoice takes an average of 17 days. Invoice automation moves requests for payment into your system more quickly and consistently, so you always have a clear and accurate view of your spending. With business intelligence tools from SAP Concur, you can use that information to make strategic decisions, better manage your cash flow, and take advantage of early payment discounts.
Key Features of SAP Concur Invoice
Automated Invoice Capture
- Convert paper invoices into digital formats using OCR (Optical Character Recognition) technology.
- Automatically extract key data points like supplier details, invoice amounts, and due dates.
Customizable Approval Workflows
- Create automated, rule-based workflows tailored to your company’s policies.
- Enable real-time tracking of invoice approvals to ensure timely payments.
Integration with Financial Systems
- Seamlessly integrate with ERP systems such as SAP S/4HANA, SAP Business One, and others.
- Consolidate financial data for comprehensive reporting and analytics.
Compliance and Policy Enforcement
- Automatically validate invoices against contracts and purchase orders.
- Detect discrepancies and flag non-compliant invoices before they are processed.
Analytics and Reporting
- Access real-time insights into spending patterns and vendor performance.
- Generate detailed reports for auditing and strategic decision-making.
Mobile Accessibility
- Approve invoices on the go using the SAP Concur mobile app.
- Stay connected and responsive, even outside the office.
Benefits of SAP Concur Invoice
Enhanced Efficiency
- Minimize manual data entry and reduce the risk of errors.
- Free up your team’s time to focus on more strategic tasks.
Cost Savings
Reduce administrative costs by streamlining invoice processing.
Avoid late payment penalties with automated reminders and faster approvals.
Improved Compliance
Ensure adherence to company policies and regulatory requirements.
Gain peace of mind with built-in controls and validation checks.
Better Cash Flow Management
Gain visibility into upcoming payments to manage cash flow effectively.
Optimize vendor relationships by ensuring timely and accurate payments.
Scalability
Adapt the solution to meet your growing business needs.
Handle increased invoice volumes with ease.
