Minor Spend Management Mistakes Can Have Major Consequences
Organizations in the Public Sector hold unique responsibilities from other entities, like no room for error when it comes to management of public funds. Unfortunately, the smallest of mistakes can hold great consequences and is seen quite often due to manual processes.
The solution is SAP Concur, which automates and integrates travel, expense, and invoice management within organizations, built specifically to simplify employee compliance and give a more detailed insight into spending activity.
Why automation of travel, expense and AP management solutions is important for the Public Sector?
Automation in reporting and processing eases the burden off employees and employers a like, by simplifying the business process and making the rules easier to follow. Automation through SAP Concur provides organization with a wide range of benefits like making it easier to control data in reports, with building an automated routine, rather than the extensive process of searching and limiting risk of error by catching early onsite mistakes, providing more time for other business growing activities.
“The way Public Sector spend budget – on travel, expenses, and invoices – matters” said Fernando Barilari, VP Sales and Marketing at SEIDOR USA. “With SAP Concur’s end-to-end data monitoring and automated workflows, it is all about transparency and compliance” added. How is this done?
Leverage machine learning (ML) and artificial intelligence (AI) : Modern capabilities such as ML and AI can ease the reporting and compliance burden on public sector by flagging potential issues that a human might miss.
Advanced processing: Bring a higher level of accuracy to public sector travel, expense, and vendor invoice processing. This is done through optical character recognition and three-way match, two high-end tools for boosting transparency and compliance.
Meeting the higher bar: Officials in the public sector and education must meet a higher bar of responsibility around travel, expense, and invoice management. SAP Concur solutions can help meet that unique obligation by delivering a high level of automation backed by ML and supported by specialized tools like OCR and three-way matching.