Exploring the Basics of ExpenseIt

This learning journey introduces you to how ExpenseIt creates expense line items, as well as capturing receipts.

After completing this course, users will be able to:

• Describe the ExpenseIt service.
• List the features and benefits of using ExpenseIt to create expense line items.
• Explain the best practices in using ExpenseIt.
• Create expense line items with ExpenseIt.
• Understand how ExpenseIt leverages integration with SAP business AI to improve hotel itemizations.

ExpenseIt is an added solution to Concur Expense that aims to transform your receipt management experience. It enhances efficiency by automatically converting receipts into expense line items and seamlessly transferring them to Concur Expense. This advanced automation simplifies the task of receipt submission, accelerates the expense reporting process, and ensures swift reimbursements.

By utilizing ExpenseIt, you can instantly capture images of your receipts with your Android devices at the point of purchase. Employing sophisticated techniques such as advanced machine learning models, individual user history analysis, Optical Character Recognition (OCR), and SAP Business Artificial Intelligence, ExpenseIt accurately reads and extracts crucial information from your receipts.

This includes essential details such as the amount spent, the currency involved, the date of transaction, location, nature of expense, method of payment, vendor details, and hotel itemizations. Based on these inputs, ExpenseIt intelligently creates a comprehensive transaction, making expense tracking more effortless.

• Easy to Use

  By simply taking pictures of your receipts, ExpenseIt conveniently converts them into detailed expense entries, eliminating the hassle of entering data and categorizing expenses manually.

• Loss and Error Reduction

  With ExpenseIt, there's no need to worry about lost receipts or forgotten expenses. Every time you snap a receipt, it's immediately uploaded and stored securely in the cloud. This keeps track of expenses in real-time, leading to fewer mistakes.

• Productivity Boost

  ExpenseIt's intelligent technology categorizes and matches expenses automatically. It identifies common data points like vendor name, date, and amount, and categorizes and aligns the expenses to the appropriate reports, saving users time and ensuring accuracy.

• Enhanced Visibility and Control Over Spending

  By showcasing where company funds are being spent, ExpenseIt enables leaders to spot trends or anomalies and adjust budgets or policies as needed. With clear audit trails, enforcement of company policies, and compliance with tax and legal requirements, ExpenseIt considerably reduces the risk of penalties.

• Unified Application Experience

  ExpenseIt is accessed within the SAP Concur mobile application, on the web or by e-mail, streamlining the process of booking travel and tracking related expenses, and making the entire process simple, precise, and efficient.

ExpenseIt is a vital tool to simplify and automate your expense management process. Its intuitive features, combined with the benefits of convenience, accuracy, compliance, control, and integration, make it an invaluable tool for you and your company.

In this section, you'll explore the various features of ExpenseIt that make up this powerful expense management tool.

ExpenseIt simplifies the expense tracking process by accurately identifying and capturing the total amounts in the receipts, even those written by hand. Once ExpenseIt analyzes your receipt, it showcases the total amount for your review. You can either approve or edit this amount before confirming. Post confirmation, the receipt undergoes extensive processing for the valuation of other associated fields.

Even though ExpenseIt's capabilities are wide-ranging, it is essential to know that it does not capture handwritten components like tips, sub-total, or tax amounts. To ensure extraction of the total amount, it is suggested that such inputs be written with clear handwriting and are easy to read. This maximizes ExpenseIt's accuracy and provides a smooth experience for you.

ExpenseIt predicts the line items' expense type using your previous history with the identified vendor and your company-specific account with the vendor.

Companies with broader, and therefore fewer, expense types can see significantly better predictions than those with more granular expense categorizations. For instance, if your company classifies individual meals as Breakfast, Lunch, or Dinner instead of generic Individual Meals, ExpenseIt will explore available data, such as the transaction's time-stamp, to predict the correct expense type. It's an intuitive system that tailors its functionality to match your company's unique needs, thus ensuring a seamless expense management experience.

ExpenseIt comes equipped with the ability to predict payment types, classifying your expenses as either corporate card charges or cash payments. When a corporate card linked to your SAP Concur account is used for an expense, and the last four digits on the receipt match those of the card, ExpenseIt tags the expense as a corporate card charge.

If you don't have a corporate card linked to your SAP Concur account, no digits are found on the receipt, or the four digits on the receipt do not match those on your linked corporate card, the expense defaults to the value configured as Cash, Out-of-Pocket, or Employee Paid. This predictive functionality streamlines expense reporting, making it more efficient and less error-prone.

ExpenseIt provides the convenience of capturing multiple-page receipts with just a few simple steps:

1. Begin by detaching any attached pages, such as credit card slips, from the primary receipt.

2. Open the SAP Concur mobile app and tap the camera icon to activate your device's camera.

3. At the top of the screen, locate and tap the multi-page icon. Its color will change, confirming that the multi-page mode is activated.

4. Frame the first page of the receipt in the camera and take a clear photo. If your receipt has a summary, start with capturing that first, followed by itemized pages. If the picture isn't clear or contains errors, tap the trash icon to discard and capture the image again.

5. Once you're satisfied with the picture, tap Next Page .

6. Continue this process until all the receipt pages are adequately captured, and then tap Done to conclude.

You can forward your digital receipts to receipts@concur.com for smooth processing. However, you must first add and verify your e-mail address/es.

Here's how to do it:

1. Visit the site concursolutions.com and log in to your account. Once logged in, go to your Profile, select Profile Settings, and then move on to the Email Addresses section.
2. Select Verify next to your corporate e-mail address.
3. Check your Inbox for the Concur Verification Email, and then copy the provided code.
4. Paste the copied code into the Enter Code box, then choose OK .
5. If you wish to add more e-mail addresses, select Add an e-mail address. With this successful verification, your e-mail addresses will now bear a Verified status.

This indicates that these addresses are now recognized and authenticated by the system, paving the way for smooth and efficient forwarding of digital receipts.

Using ExpenseIt as a delegate is also possible on the SAP Concur mobile app and the web, enabling you to manage expenses on another user's behalf. However, both the delegate and the delegator should be users verified within the system.

To forward receipts as a delegate, you must include the delegator's verified e-mail address in the subject line of the e-mail. Send the email to receipts@concur.com. This provides a convenient, streamlined solution for multi-user businesses where one user may manage expense submissions on behalf of others.

ExpenseIt offers a flexible receipt image capture functionality that remains accessible even in airplane mode. Therefore, you can use ExpenseIt to document and save images of your receipts even when cellular or WiFi connections are turned off.

While utilizing this feature, all the images you capture will be queued for processing in the app's memory. As soon as airplane mode is deactivated and a data connection is restored, the queued images will be processed automatically by ExpenseIt. This prevents any disruption in expense tracking during offline periods, ensuring a seamless, uninterrupted service regardless of your connectivity status.

ExpenseIt is a versatile solution that goes beyond managing cash and corporate card transactions - it also efficiently handles procurement card transactions.

After capturing and analyzing the receipt image, ExpenseIt creates a corresponding cash transaction in Concur Expense. When the procurement card transaction is imported into Concur Expense, it matches the previously created cash transaction as soon as the statement report is opened.

What's impressive is that the procurement card payment type automatically overwrites the initial cash payment type. This intelligent, auto-correction feature ensures correct categorization of expenses and less manual effort for the user, thereby significantly simplifying the overall expense management process.

ExpenseIt simplifies expense reporting, reduces errors, improves compliance, integrates with existing software, enhances decision-making with spending insights, and saves time and costs by automating data entry and receipt processing.

In this section, we'll guide you through some optimal usage tactics that will not only improve your experience, but will also enhance your performance in expense management.

These recommended best practices are the foundation of what you'll need to use ExpenseIt.

• Ensure your SAP Concur mobile app is updated to the latest version for optimal performance.
• Capture the receipts as soon you receive them, to maintain organized record-keeping.
• To enhance the accuracy of ExpenseIt's predictions, ensure you take a high-quality image that encompasses the entire receipt.
• Ensure the camera lens is clean and focused on the receipt to capture a crisp, legible image.
• Capture photos in a portrait (vertical) orientation in a sufficiently illuminated area or utilize the flash for better visibility and clarity.
• Ensure no shadows obscure any part of the receipt while capturing the photo.
• Avoid capturing images of the receipt against a background with additional text, for example, placed on a keyboard, to ensure readability and accuracy.
• Avoid taking photos of laptop screens or computer monitors to maintain picture quality. Instead, consider using screenshots when necessary.
• Always review the expense details meticulously for accuracy prior to submission.
• When relevant, carefully check to confirm that the ExpenseIt transaction has been correctly matched with a Credit Card Transaction. This verification should be carried out within the expense report.

For optimal use of ExpenseIt, keep your SAP Concur app updated. Capture clear, well-lit receipt images promptly, check expense details for accuracy before submission, and ensure credit card transactions are correctly matched.