Our expense management software experts review.
If you're in search of a T&E management solution, SAP Concur may be one of the first names that come to mind. But what if you're looking for alternatives to SAP Concur?
In this article, we'll explore the top 5 SAP Concur alternatives and competitors, and provide a detailed explanation of each one.
Effective T&E management is crucial for businesses of all sizes, and it's important to consider the different pain points that may arise.
We'll discuss the major pain points in T&E management and how SAP Concur and its alternatives can solve these problems for companies. Additionally, we'll provide tips on things to consider while choosing the best SAP Concur alternative for your business.
If you're a founder or CFO seeking to reduce travel and expense costs, it's worth exploring other options in the market. Here are some alternatives to SAP Concur that you may want to consider:
Each of these platforms offers unique features and benefits that may better suit your business needs.
If SAP Concur doesn't fit your business needs, there are other T&E management platforms available. Here are some popular alternatives to consider:
Each platform has its own strengths and weaknesses, so it's important to evaluate them based on your specific business needs.
ExpenseOnDemand stands out as a premier expense management software in today's market. It's a cloud-based solution renowned for its comprehensive expense management capabilities. With a user-friendly interface, support for multiple languages, and advanced features like automated approvals, and real-time tracking, ExpenseOnDemand offers unparalleled convenience. Its pricing structure is designed with flexibility in mind, offering three segments tailored to different user needs. From thorough implementation ensuring a seamless setup to cost-efficient plans catering to both casual and power users, ExpenseOnDemand delivers value and scalability for businesses of all sizes.
ExpenseOnDemand offers a free trial and pricing plans starting from £5 per user per month.
Expensify is a cloud-based expense management software that automates expense reporting for businesses. The software offers features such as receipt scanning, expense tracking, and automatic reimbursement.
Expensify offers a free trial and pricing plans starting from £4.20 per user per month.
Zoho is a cloud-based expense management software that helps businesses automate their expense management processes. The software offers features such as receipt scanning, expense tracking, and automated expense reporting.
Zoho offers a free trial and pricing plans starting from £3 per user per month.
Fyle is a cloud-based expense management software that automates expense reporting for businesses. The software offers features such as receipt scanning, expense tracking, and automated expense reporting.
Fyle offers a free trial and pricing plans starting from £4.50 per user per month.
ITILITE is a cloud-based expense management software that helps businesses automate their expense management processes. The software offers features such as receipt scanning, expense tracking, and automated expense reporting.
ITILITE offers a free trial and pricing plans starting from £2.50 per user per month.
Implementing a travel and expense management (T&E) platform is beneficial for various stakeholders in an organization. Here's a breakdown of how each stakeholder group can benefit from an integrated T&E solution:
An integrated T&E platform can save employees time and effort, making it easier for them to comply with company policies. They can track approvals, understand who to contact for help, and have a reasonable expectation of when to expect reimbursements. While employees are not the primary stakeholders of such a platform, it affects their day-to-day life significantly.
A good T&E management platform automates a lion's share of the finance team's tasks, including policy compliance and ITR filing. It is almost like a new AI member of the finance team that can automate manual processes and detect fraud, leaving the team to deal with tasks that require human intervention. This can free up the finance team's time and allow them to focus on more pressing issues.
A T&E platform enables a CFO to do more with their budget by providing better visibility of the budget and offering smart insights. Accurate analytics derived from the platform can help CFOs make better decisions, leading to cost savings and increased revenue.
One of the biggest challenges in T&E management is the need for manual data entry. This can be a time-consuming and error-prone process, leading to delays in processing expenses and potential mistakes. It can also result in lost receipts and invoices, leading to inaccuracies in expense reporting.
A lack of visibility into travel and expense spending can make it difficult to identify areas for cost savings and optimization. Without clear insight into spending patterns, it can be challenging to make informed decisions about budget allocation and resource planning. This can also hinder the ability to negotiate better rates with vendors and suppliers.
Ensuring compliance with company travel and expense policies can be challenging, as employees may not always follow the rules. This can lead to higher costs and potential fraud. It's important to have clear policies in place and to regularly communicate them to employees to reduce the risk of non-compliance.
Inefficient approval workflows can lead to delays in processing expenses and can also make it difficult for managers to quickly identify and address potential issues. This can result in missed deadlines, late payments, and frustrated employees. Streamlining approval workflows can help to reduce these challenges and improve overall efficiency.
Tracking and managing multiple expense reports can be a time-consuming process, especially when dealing with large amounts of data or multiple currencies. This can lead to errors and inaccuracies in reporting, as well as delays in processing reimbursements. Using automated tools and systems can help to streamline the process and reduce the risk of errors.
When T&E management systems are not integrated with other financial systems, it can be difficult to get a complete picture of overall spending and financial performance. This can make it challenging to identify trends and patterns, as well as to make informed decisions about budget allocation and resource planning.
Reconciling expenses can be challenging when there are discrepancies between receipts, credit card statements, and expense reports. This can lead to errors and delays in processing, as well as frustration for employees. Using automated tools and systems can help to streamline the process and reduce the risk of errors. It's also important to have clear policies in place for reconciling expenses and to regularly communicate these policies to employees.
SAP Concur and its alternatives offer automated expense reporting, which saves time and reduces the risk of errors. Employees can easily submit expenses via mobile or web applications, and the software automatically captures data from receipts and credit card transactions. This streamlines the expense management process and ensures accuracy in spend reporting.
These solutions help companies enforce their T&E policies. They do this by setting up customized workflows for approvals and monitoring employee compliance. This ensures that all expenses are in line with the company's policies. It also reduces the risk of fraudulent or non-compliant expenses.
SAP Concur, and its alternatives provide real-time visibility into T&E spending. This helps companies track expenses and identify areas for cost savings. This end-to-end automation enables organizations to better manage their travel expenses. It also helps them make informed decisions about future spend.
These solutions integrate with accounting systems such as QuickBooks, Xero, and NetSuite. This streamlines the accounting process and eliminates the need for manual data entry. This data extraction ensures that all expenses are accurately recorded and reported. It also reduces the risk of errors and improves overall accuracy in spend reporting.
Many of these solutions offer integrated travel booking capabilities. This allows companies to book flights, hotels, and rental cars directly through the software. This travel expense management enables organizations to better manage their travel expenses. And it ensures that all bookings are in line with their policies.
SAP Concur and its alternatives provide powerful analytics tools. These tools enable companies to analyze T&E data and identify trends and patterns that can inform decision-making. This spend management enables organizations to identify areas for cost savings and optimize their travel and expense processes.
Many of these solutions offer mobile applications that enable employees to manage their expenses on the go. This mobile accessibility ensures that employees can easily submit expenses and manage their travel bookings. It also improves overall efficiency and accuracy in spend reporting.
When choosing the best SAP Concur alternative for your business, there are several factors that you need to consider. Here are some of the most important things to keep in mind:
One of the most important things to consider is how easy it is to integrate the software with your existing systems. You should look for a platform that offers seamless integration with your HRMS, ERP, accounting software, and travel management companies. APIs can help create prebuilt integrations that streamline the data flow between systems. This offers maximum flexibility and data security. Make sure to check how seamlessly the integration can happen and choose accordingly.
Your finance team spends a lot of time and effort collecting the right information and filing GST returns. It's essential to choose a platform that makes it easy to collect vendor GST data and integrate with travel companies at the time of booking to fill in your company's GST details. These micro details regarding tax compliance add up in the long run and save a lot of time. Look for a platform that can provide detailed, custom GST reports for the money spent from the travel and expenses budget.
Data security should be one of the most important decision-making factors while picking the right travel and expense management platform. Make sure that the platform you choose protects your sensitive data and takes all possible steps to avoid any data breaches. Ask questions like what data security certifications the platform has, where the IT servers are located, and what level of encryption is applied.
A travel and expense management platform is only useful if your employees can quickly get used to it and use it for its intended purpose. Look for a platform that has a clean user experience, self-explanatory configurations, and a user-friendly interface. It's a good idea to take a demo of the intended platform and see how simple the most often repeated processes are to perform. Check the reviews of the mobile app on the Google Play Store and App Store.
Choose a travel and expense platform that has a robust, powerful mobile app for Android and iOS. If employees can log their expenses efficiently and on-the-go, and have them approved in real-time, it will end up saving a lot of time and effort for them.
Enforcing your travel and expense policies can help you achieve major cost savings for your business. Choose a T&E platform that enables you to enforce policy compliances through inbuilt commands and configurations. Keep your T&E policy documents ready and updated, and check with the point of contacts whether the platform can help you enforce all or most of your policies. This will not only help your business save on costs but also help your employees and finance department save a lot of time and effort.
SAP Concur is a business travel and expense management software that provides integrated solutions to automate a company's travel expenses. The software offers travel, expense, and invoice solutions to businesses, resulting in a better expense management experience for employees, travel admins, finance teams, and CFOs.
SAP Concur offers a range of features that help save time and effort, including:
SAP Concur offers several advantages, including:
Despite its benefits, SAP Concur has some drawbacks, including:
According to G2, SAP Concur offers three pricing options: automate, insights, and optimize. The automate plan costs approximately 9 USD per report to automate expense reporting processes, while the other plans have varying prices. The actual cost of SAP Concur services is determined by factors such as the monthly report volume and the number of users. If you want to know the exact price based on your expense management needs, you can reach out to the SAP Concur team to receive a personalized quote.
SAP Concur has been rated on several features, including:
If you are considering using SAP Concur for your business, you may have some questions. Here are some frequently asked questions that may help you make an informed decision.
What is SAP Concur?
SAP Concur is a travel and expense management platform that helps businesses manage their spending processes from anywhere. This platform offers businesses more visibility and control over their travel and expenses, which can help them save costs and enhance customer experience.
How much does SAP Concur cost?
SAP Concur offers three pricing models: Automate, Insights & Optimize, in the order of increasing prices and features. The starting price for Automate is $9 USD per report per month. However, some enterprises may find SAP Concur's pricing to be too expensive and may choose to use alternatives. For example, Happay offers a transparent pricing model according to your business requirements with no hidden charges, billed at a certain amount per user, per month.
How long does it take for expenses to show up in SAP Concur?
After you file expenses on SAP Concur, some may reflect immediately, while expenses made from a corporate or credit card may take approximately three days to be reflected. It is usually easier for employees and managers if expenses are all reflected as soon as possible to help streamline overall expenses.
How do I get in touch with SAP Concur customer service?
If you need to contact SAP Concur customer service, you can fill out a form on their website with details about your issue or blocker. Alternatively, if you are in India, you can call 1800-1020-650 to speak with a customer care representative.
What are some better alternatives to SAP Concur?
While SAP Concur is a leading travel and expense management solution, there are many alternatives that may be better suited for your organization, depending on your needs and budget. Happay, Expensify, Zoho Expense, and Fyle are just a few of the many expense management alternatives to SAP Concur. Some of these alternatives also offer a payments stack along with the travel and expense solution, making it easier and more streamlined for your business to manage T&E.
If you are looking for an alternative to SAP Concur for expense management, there are several options available in the market. Some of the leading alternatives to SAP Concur include:
When choosing between Zoho Expense and Expensify as substitutes for SAP Concur, it depends on your specific needs. Both Zoho Expense and Expensify offer similar features like receipt scanning, expense tracking, and real-time expense reporting. However, Zoho Expense is more affordable compared to Expensify, making it a great option for small businesses. On the other hand, Expensify offers advanced features like automatic expense categorization and integrations with more accounting software.
Webexpenses is a cloud-based expense management software that offers several advantages over SAP Concur for corporate use. Some of the advantages include:
Egencia is a travel management software that offers several features like flight and hotel bookings, expense management, and reporting. While Egencia can serve as a replacement for SAP Concur's travel management features, it may not offer the same level of expense management features as SAP Concur. If you are looking for a comprehensive expense management software, you may want to consider other alternatives.
The primary reasons businesses might consider switching from SAP Concur to another expense management system are:
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