In this infographic, see the costs and benefits associated with Concur Invoice based on in-depth interviews with eight organizations that use Concur Invoice to manage and process vendor invoices.
IDC projects that for a five-year period, these organizations will achieve benefits worth a discounted average of $2.75 million ($54,647 per 1,000 invoices) and a return on investment (ROI) of 505%
IDC’s study has revealed that since implementing Concur Invoice, the surveyed organizations have made their invoice management processes more efficient and effective. With Concur Invoice, these organizations have automated and simplified accounts payable (AP) workflows, enhanced the user experience, encouraged mobility in the AP process, and improved compliance levels.
Highlights of the benefits realized by these organizations include:
-Attaining efficiencies in AP workflows, including spending 68% less time processing invoices
-Automating the invoice management process to significantly improve compliance
-99% of employees using Concur Invoice are complying with their companies’ procurement policies, which improved 14% over the five years
-The number of delayed payments to vendors has decreased by 67%
-Enhancing the user experience in handling invoices by mobilizing the invoice management process (The surveyed organizations increased their productivity by an average of 11% as a result of using Concur Invoice on their mobile devices)
-Reducing IT staff time required to manage invoice management solutions by 29%