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Spend visibility in the public sector

15th Jun 2018
Brought to you by
SAP

SAP® Concur® is the world’s leading brand for travel, expense and invoice management solutions.

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Have you found this content useful? Use the button above to save it to your profile.

Are you considering an audit of your spending? With the Crown Commercial Service’s new spend recovery programme, designed to help governments take control of their costs, you might think you’re overdue. But what if you could prevent misspending?

Spend recovery

The new Spend Analysis and Recovery Services framework for UK central government departments is a new programme of services that includes ‘analysis of accounts payable systems, supplier invoices and payments, [and] supplier contracts’, to identify overpayments and duplicate payments. The aim is to provide an improved customer service, with more suppliers and services than ever before.

A new approach: preventing misspending

Conducting an audit helps you identify issues any missing opportunities as well as spend leaks before they get any worse. Spend visibility uses data analysis as you’re working so you don’t make overpayments or miss opportunities in the first place.

SAP Concur specialist for public sector, Karl Seward, says, “a major challenge around spend visibility is that without visibility, there is little control. Control includes the enforcement of travel and expense policies, a reduction in fraud, and ultimately the ability to make informed timely financial strategic decisions with confidence.”

Maintaining financial control

In the public sector, business transparency and spend visibility are essential to prove that the money is being spent in the right way. Budgets are scrutinised and every transaction is tracked to make sure it complies with taxation requirements and other regulatory compliance.

Implementing a spend management solution makes the process easier than ever. By consolidating all your data in one performance dashboard, you can see every aspect of your spending. The dashboard provides you with the insight you need to prevent any duplicate payments, flag unusual transactions and even negotiate discounted supplier rates.

Be proactive

With automated spend management your finance and procurement teams have the power back and rest assured that there won’t be any penalty charges, as compliance is automatically ensured with the most up-to-date regulations.

As Seward explains, “SAP Concur dynamically integrates employee-initiated spend with real time data and applications to track, manage, and analyse transactions as they occur for accurate insight and forecasting.

“Benefits include accurate reporting of spend including accruals, ensuring policy compliance, maximising VAT Reclaim, and having the full picture of employee spend to improve supplier negotiations.”

Find out more about SAP Concur