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In partnership withWHY WAIT ANYLONGER TOAUTOMATE EXPENSEAND INVOICEMANAGEMENT?Today, many businesses still manage their accounting and accounts payablesystems on paper-based processes, such as mailing checks to vendors andreimbursing employee expenses.Using checks to pay both vendors and employee expenses is time-consuming andinefficient, and they keep important expense data hidden in a sea of file folders that aren’teasily accessible. While research shows that 80% of all firms still use paper checks, 15% stillprefer this payment method. AP automation allows companies to take this process into thecloud to maximize employee efficiency, handle processes remotely, take advantage of earlypayment discounts and avoid late fees.American Express and SAP Concur integrated solutions focus on key areas of the accountspayable process:nnnnThere is a lack of visibility and control over B2B payments and payment statusesPayment automation solutions will hurt the happy, healthy supplier-buyer relationshipSuppliers prefer to be paid by check and aren’t open to changeImplementing new payment solutions takes time, and current processes areworking fine80%1STILL USE PAPER CHECKS15%2STILL PREFER THISPAYMENT METHOD

In partnership withHURDLES THAT SLOW ACCOUNTSPAYABLE AUTOMATION“Businesses that choose tooperate in the StoneAge with paper-based B2Bpayments face bigger risksthan rewards,” PaymentsJournal reports “Recent AFP(Association for FinancialProfessionals) payment andfraud findings show that threefourths of companies that fellvictim to fraud were relying onpaper checks.”Several hurdles have stalled the widespread adoption of B2B digital payment systems.Payments Journal reports that the following myths and misconceptions have made itdifficult for businesses to make the switch from paper:nnnnThere is a lack of visibility and control over B2B payments and payment statusesPayment automation solutions will hurt the happy, healthy supplier-buyerrelationshipSuppliers prefer to be paid by check and aren’t open to changeImplementing new payment solutions takes time, and current processes areworking fineNatalie Jones, senior invoice business consultant at SAP Concur, detailed the risks andcosts of manual operations:nnnnnIt’s time-consuming and costly to collect and retain paperwork, whether email, paperinvoices or copies of checksHuman error can result in mistakes, including missed, late or duplicate paymentsIt’s an arduous process to track expenses and hunt down lost receipts, purchaseorders, mail and duplicate invoicesThe rise in cybercrime could result in an employee paying a fake email invoice orclicking on an email link that has malware launches a ransomware attackSystems that revolve around a sea of paper make data hard to find and give little tono insight into business operations, including past and future spending“Paper-based systems really put a business at a disadvantage,” Jones said. “The businessis using high-value resources to do low-value tasks. Nobody goes to school to be a chieffiling officer.”“Paper-basedsystems reallyput a business ata disadvantage,the business isusing high-valueresources to dolow-value tasks.Nobody goes toschool to be a chieffiling officer.”NATALIE JONES,senior invoice businessconsultant at SAP Concur

In partnership with“Our customershad to reactswiftly – thepandemic forcedmany physicalaccounts payabledepartments toBENEFITS OF AUTOMATEDSOLUTIONS OVER PAPERmove virtuallywithout a wayto process theirpayments.”IMPROVED COMPLIANCECOST SAVINGSACCELERATED SPEEDOrganizations witnessed an increase inpercentage of employees following theirprocurement policies ofStaff time required toprocess one invoicedecreased byAutomating accounts payable withConcur Invoice* reduces the amountof time to process an invoice by32%3BETTER UNDERSTANDING45%6decrease in the number of questionsfrom vendors to the accounts payabledepartment.64% 75%45INCREASED VISIBILITY54%7of companies find that improvedanalytics is an important benefit ofan automated solution.Manual systems also put a company at a disadvantage during times of crisis whenbusiness continuity is essential. Recent events exposed that by forcing many businessesto immediately shift to remote work environments. According to Jones, digital, not paperbased systems, give executives the ability to access information on the go and capture,process and pay invoices without physically having to sign a piece of paper.TRINA DUTTA,vice president/generalmanager B2B paymentsautomation, globalcommercial services atAmerican Express

In partnership withTrina Dutta, Vice President/GM B2B Payments Automation, Global Commercial Servicesat American Express, said the company understands businesses are pressed for time andsearching for ways to operate digitally in today’s highly uncertain economic environment."Our customers had to react swiftly – recent events forced many physical accounts payabledepartments to operate virtually without a way to process their payments."“Our focus has been helping these businesses rapidly get up to speed with reliable digital solutionsto automate payments,” Dutta continued. “Our offerings with SAP Concur provide businesseswith many benefits including: security through use of American Express virtual Cards, increasedvisibility into payment, working capital optimization while eliminating their pain points of manualentry efforts, fraud due to cards (being) lost or stolen and eliminating stacks of paper.”STARTING IN THE RIGHTDIRECTION: AUTOMATING THECOLLECTION OF INVOICES ANDEMPLOYEE EXPENSESLet’s review the many steps and the possibilities for errors and inefficiencies involved inmanual processes.Manually processed invoicesn An invoice arrives by mail, email or faxn An employee makes sure the invoice is put into the accounting systemn A check is written and mailedn Payment is recordedn Often, the accounting department chooses to follow up with the vendor to make surethe payment has been receivedn Once that’s confirmed, that gets manually recorded, tooManually processed employee expensesn Employee saves receipts and later makes copiesn Expense forms are filled outn Forms are sent for approvaln After approval routed to the accounting department where a paper check is written andphysically deliveredAutomation digitizes the process, allowing invoices and expenses to be approved and recordedwith the touch of a button, anytime and from anywhere. “The ability to submit and approveexpenses and invoice from a mobile device or a desktop allows accounting departments to payinvoices and expenses in a more timely manner and with better visibility,” said Kellee Simmons,senior manager, invoice consulting team at SAP Concur. “They have the ability to act quickly toapprove invoices and often can take advantage of benefits that have been designed for thosewho pay early.”“The ability tosubmit andapprove expensesand invoice froma mobile deviceor a desktopallows accountingdepartments topay invoices andexpenses in a moretimely mannerand with bettervisibility,”KELLEE SIMMONS,senior manager, invoiceconsulting team at SAPConcur

In partnership withCompanies that want to move away from time-consuming paper-based systems can integratetheir American Express Business or Corporate Card with Concur Invoice, a cloud-basedB2B invoice management solution that syncs with most enterprise resource planning andaccounting systems to automate accounts payable. It allows a company to use its AmericanExpress Business or Corporate Card to pay suppliers. The result is reduced processing timesand a streamlined workflow.The American Express B2B Payments App gives Card Members a tool to integrate theirpayment information directly within Concur Invoice and provides increased security andcontrol with American Express virtual Card numbers. The solution only requires a one-timeenrollment to the American Express B2B Payments App and enrolling the American ExpressCorporate or Business Card associated with the company’s American Express online account.HOW CONCUR INVOICE ANDAMERICAN EXPRESS B2BPAYMENTS WORK TOGETHER“This will be animportant tool in thevendor relationship,but also a wayto attract andretain workers.Millennials arevery tech-focused,and they’ll wantto work for andwork with otherswhere they cangrow their technicalknowledge andCAPTUREMATCH AND APPROVEPAYThe supplier submits aninvoice by paper, fax, ore-mail, which is digitizedby Concur Invoice’s OCRtechnology and thenvalidated.Concur Invoice matchesthe invoice to its PO, appliesGL coding, and sends it forapproval to the appropriateemployees.Once approved,American Expressgenerates a unique virtualCard number and sends itto the supplier via securee-mail for processing andpayment.MONITOR AND ANALYZEView detailed paymentstatus in Concur Invoice.Leverage reporting to assesspayment times, view spend bydepartment, and more.On the expense side, the American Express Business or Corporate Card can be synched withConcur Expense to bring company expense data into one automated spend managementsolution. The benefits include:nSave money. Reduce expense report transaction and processing costs while improvingvisibility into employee spendingnSave time. Streamline processes and automatically capture data so employees canndevote extra time to more important tasks while reducing errorsImprove compliance. Review transactions to identify potential compliance issues andmitigate the risk of fraud“This will be an important tool in the vendor relationship, but also a way to attract and retainworkers,” Jones said. “Millennials are very tech-focused, and they’ll want to workfor and work with others where they can grow their technical knowledge and apply that skill set.”apply that skill set.”NATALIE JONES,senior invoice businessconsultant at SAP Concur

In partnership withKEEPING COSTS UNDER CONTROLThe cost of inefficient workflows adds up. Transformingyour AP processes can pay serious dividends – namely,by helping increase your profitability. 588 20 23.20 11 39KAutomation canlower the cost ofeach completedexpense reportby 20.Small and midsizebusinesses spend 23.20 to manuallyprocess a single invoice.Small and midsizebusinesses can save 11 per invoice afterimplementing anautomated invoicingsolution.The average smalland midsize businesscan save 39,000 ayear by automating itsinvoice and expensemanagement processes.9On average, it costs 58 to manuallyprocess on expensereport.101112MAKING MORE TIME FOR WHAT’S IMPORTANTDo menial tasks take away time from your employees time to spend on strategic work,revenue-generating activities designed to grow the business?5 HOURS13Finance employeescurrently spend morethan five hours per weekprocessing invoices.34%14An automated solution candecrease the time spenton invoice managementtasks by 34%.3.7 DAYS15After invoice automation,the average small andmidsize business takes3.7 days to process aninvoice (a 74% reductioncompared to manualprocessing).500 HOURSFinance employees can save500 hours annually using anintegrated expense, travel, andinvoice solution.16

In partnership withAccounts payable automation provides improved tracking, more detailed data and betteranalytics, and it can help businesses save money.HOW DOES THE AMERICANEXPRESS BUSINESS CARDINTEGRATION HELP YOURBUSINESS?SaveMoneyReduce expense reporttransaction and processingcosts while improvingvisibility into employeespendingSaveTimeStreamline processes andautomatically capturedata so you can devoteextra time to moreimportant tasks – whilereducing errorsImproveComplianceReview transactionsto identify potentialcompliance issuesand mitigate the riskof fraudOTHER BENEFITS WITHAMERICAN EXPRESSINTEGRATIONSHere are the advantages and benefits of automation on the employee expense side:nRemote access. Expenses can be managed anytime and anywhere on mobilendevices and desktopsMake better decisions. Integrating the American Express Corporate or BusinessnCard with Concur Expense allows a company to improve visibility and gain importantinsights to help make better financial decisions and identify new ways to save moneyEnjoy advantages. There are benefits and rewards** that come from using theAmerican Express Business or Corporate CardIntegrating theAmerican ExpressCorporate orBusiness Card withConcur Expenseallows a companyto improvevisibility and gainimportant insightsto help makebetter financialdecisions andidentify new waysto save money.

In partnership withWHY WAIT?Companies face a variety of challenges, even in the best of times: changing regulations,increased competition, advances in technology, recruiting the best talent, managingincreasing amounts of data and staying on top of customer service. When times are tough,those challenges are multiplied: a greater focus on cost controls, having enough cash onhand to sustain operations, project delays, uncertainty about the future and an emphasison strategic financial management.“Finance decision makers need real-time visibility into which payments are outstandingto develop an accurate cash flow forecast,” Forrester Research17 reports. “A positive cashflow position is not only important for an organization’s financial health; it’s also importantstrategically. The amount of cash an organization has on hand is directly related to how wellit can take advantage of new growth opportunities and stave off competitive threats.”Simmons said the only way to achieve that real-time visibility is through automation. “Whywait to automate? Automation cuts costs, saves time and boosts efficiency,” she said. “Itgives the owner visibility to data that can be used to make strategic decisions about thefuture. It also builds credibility back into the accounts payable department and boostsmorale among staff. The result? Happy people make a happy organization.”To learn more about how SAP Concur and American Expresscan help a company automate its accounts payableprocesses, visit www.concur.com/americanexpress“Why wait toautomate?Automation cutscosts, savestime and boostsefficiency.”KELLEE SIMMONS,senior manager, invoiceconsulting team,SAP Concur

In partnership withSOURCES1 tomation-set-to-shred-paper-checks/2 tomation-set-to-shred-paper-checks/3 agement-of-financial-operations4 agement-of-financial-operations5 6 7 8 and-money-on-expense-report-processing9 10 https://go.concur.com/events na smn client webinar 0518 invoice intro 01registrationpage.html11 ice-management-infographic12 13 14 nvoice-solutions15 https://go.concur.com/events na smn client webinar 0518 invoice intro 01registrationpage.html16 17 Forrester Research, Transform Your Corporate Payment Systems for the Digital Age* Users must subscribe to the Concur Invoice service, then enroll their eligible American Express Business, Corporate or CorporatePurchasing Card for virtual payments on the American Express B2B Payments App. Not all suppliers may accept American Express virtualpayments. Users are subject to the terms of Concur Invoice’s Customer Agreement and fees from SAP Concur may apply. Refer to SAPConcur for Concur Invoice fees. To learn more, please contact your American Express representative.** Not all Cards are eligible to get rewards. Terms and limitations vary by Card type.

The American Express B2B Payments App gives Card Members a tool to integrate their payment information directly within Concur Invoice and provides increased security and control with American Express virtual Card numbers. The solution only requires a one-time enrollment to the American Express B2B Payments App and enrolling the American Express