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IDC’s Compelling ROI for SAP Concur
Investing in Travel and Expense (T&E) software that streamlines processes and enhances employee experiences might seem like an overall simple business decision. The promising rewards of operational efficiencies coupled with newfound visibility into areas like budgeting and forecasting are the very dreams of State, Local, and Education (SLED) organizations still stuck in the mires of manual and inefficient processes.
With limited funds and resources, it’s no secret that organization must prioritize spend. It’s also well known that securing funding for compliance, risk mitigation, and performance-enhancing technology upgrades are often easier to push forward. In light of this, building a business case that includes a proven ROI for SAP Concur comes together easily.
What’s the value of SAP Concur to businesses?
According to IDC research, organizations realize significant value from SAP Concur. SAP Concur has shown to:
- Foster business efficiencies and significant time savings for employees
- Increase productivity in finance and travel support functions
- Enable business travel savings, compliance with travel policies, and minimize data loss
In short, SAP Concur quickly helps organizations improve business efficiency, productivity, and compliance. Moreover, it’s also been proven to provide a quick Return on Investment (ROI).
What’s the ROI for SAP Concur?
SAP Concur doesn’t simply improve T&E workflows and operations. It also offers an amazingly quick ROI. IDC research has shown that the benefits, when tracked against the investment costs, results in an average three-year ROI of 628% (with a break-even point occurring in just over 5 months). In their study, IDC research determined that businesses using SAP Concur experienced $777k savings annually on business travel and expenses, as well as:
- 628% Three-year ROI
- 5.3 Months to payback
- 36% Efficiency in report intake and handling
- 54% Less time to book business trips
- 52% Fewer errors in reporting expenses
- 43% Less time to complete expense reports
- 43% Fewer lost receipts
- 32% More employees are following company T&E policies
- 65% Increase in compliant expense reports submitted
Given CFOs are more likely to approve funding for purchases that improve the bottom line, statistics like these create a very compelling ROI for SAP Concur. Want to take a deeper dive into the ROI calculations and methodology used? Check out the IDC’s whitepaper, “The Business Value of SAP Concur Solutions for Optimizing Travel and Expense Operations.”
How can AspireHR help?
AspireHR has transformed some of the biggest brands and best-run companies with HCM solutions like SAP Concur. We have empowered millions of people globally by creating the best HR experiences possible. AspireHR is proud to be a WBENC-certified, woman-owned, SAP Partner. If you’re a SLED organization that would like to say goodbye to manual reporting, lost receipts, and inefficient processes, the team at AspireHR is ready to help.