Concur is an SAP Company

Tis the Season for Expense Reports; Finance Departments Brace for Busiest Expense Month

Concur provides Tips for surviving the Receipt Dash in December

Sydney, December 11, 2012Concur (NASDAQ: CNQR), a leading provider of integrated travel and expense management solutions, has identified December 19th as one of Australia’s busiest expense days of the year for finance departments. Based on Concur’s industry-leading expense transaction data – comprised of over 30 million expense reports globally – December 5th and 6th were also identified as expense heavy days, making three out of the top five busiest days fall in December. It’s understandable that client and staff spending will increase during the holiday season, but interestingly, many employees tend to wait until the last minute to claim business trips taken earlier in the year and are evidently eager to be reimbursed before offices close down. This leaves accountants and finance departments under significant pressure and rushing to process the large transaction volume ahead of the Christmas break. Predicting these high volume days helps businesses plan better to manage their employees’ expense needs and prepare employees early as to minimise harm to the company’s bottom line from an onerous amount of expenditures that need to be processed. “December is notoriously a very busy period for finance departments due to the high volume of transactions requiring settlement before year end and the last minute rush from employees,” said James Tarrant, finance manager, CMG. “With Concur, there is no longer the need to shuffle printed documentation between approvers, everything can be completed digitally. We can directly import our corporate card charges into the expense reports which is a significant time saver for the business. We also use this information to track and monitor expenses in a more timely and comprehensive manner. The result is a more streamlined process that reduces the strain on our resources during the busy season. We are also able to reimburse money to our employees faster and with less work,” concludes Tarrant. With the advancements we have seen in mobile technology, businesses now have the opportunity to streamline their expenses with their finance departments, allowing less hassle and frustration from both ends. Smart-phones now empower employees to capture pictures of receipts and attach them to expense reports, minimising hard copies. In addition, Concur sees more and more clients leverage the smartphone to submit expense reports (67 percent increase) and approve (53 percent growth) reports on the road. “Whether it’s closing out of a calendar year or a fiscal year, the last thing a finance department should be worrying about is wading through a mountain of papers or concerning themselves with lost receipts,” said Marten Jagers, senior director of Asia Pacific for Concur. “We process more expense reports than any other company in the world, so we are equipped to help minimise the impact to the business and ensure deadlines are met. Concur’s cloud-based services help corporate clients streamline their entire travel and expense reporting process, while our mobile app helps their employees quickly and easily capture expenses and receipts and submit expense claims from anywhere.” Guidance for Surviving the Expense Receipt Dash Concur has provided the following tips to reduce the burden on finance departments during this busy time of the year: • Outline company policies that clearly state the regulations for company spending • Provide training videos or create a Webinar for how to submit and/or approve an expense report. This should include a guideline on what receipts are required for inclusion - an incomplete expense report can create more review cycles and increase the time it takes for the submitter to be reimbursed • Leverage mobile technology to capture digital images of receipts and submit expense reports. This will allow managers to access expense reports in order to approve or reject right from their mobile device