Exploring the Basics of the Budget Feature

Objective

After completing this lesson, you will be able to explain the the purpose and benefits of using the Budget feature.

Basics of the Budget Feature

Enhance Your Financial Oversight with Budget

Budget feature is your essential tool for transforming company spend data into actionable insights. Seamlessly integrated with Concur Expense, Concur Request, and Concur Invoice, Budget offers a real-time, comprehensive view of your company's spending. Accessible through both the web platform and SAP Concur mobile app, Budget provides you with critical data access anytime, anywhere.

With Budget, achieve clarity and precision in financial planning through intuitive overviews and detailed dashboards. Stay informed with real-time notifications for quick responses to unexpected events. Ensure compliance with customizable approval workflows, user permissions, and audit rules.

Centralize your current spending data in one location and assess its impact before making approval decisions. By streamlining financial insights, Budget enhances your ability to make informed decisions, providing greater control and effectiveness in managing company resources. Explore a world where financial strategy and capability come together with Budget.

Benefits of Using the Budget Feature

Validates invoices, purchase requests, expense reports, and authorization requests against a predefined budget.
Provides budget users full visibility before submitting invoices, purchase requests, expense reports, or authorization requests.
Gives approvers detailed insight into the budget during the approval process for invoices, purchase requests, expense reports, or authorization requests.
Provides budget owners clear insights into budget spending patterns.

With Budget, prioritize expenses to prevent overspending and make the most of every opportunity to utilize funds effectively.

Summary

Budget Dashboards provide a real-time, graphical overview of spending, pending, and remaining budgets for better financial control.
Color-coded indicators (green, yellow, red) help monitor budget status and alert users when spending nears or exceeds limits.
Features include exporting data to Excel, filtering budgets, sharing budget views, and managing team budgets.
Unexpensed amounts and credit card transactions are tracked for comprehensive budget oversight.
Approvers and budget owners use visual alerts to quickly assess and act on budget statuses during approvals.

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