Concur redefines financial transformation for Sri Lanka’s businesses

Concur, a SAP company and the world’s leading provider of travel, expense and invoice management solutions, this week announced an intention to accelerate financial transformation and automation in spend management for Sri Lanka.

The announcement was made at an event exclusively for CFOs and CIOs of Sri Lanka’s leading corporates held in Negombo.

In a digital mobile economy, where employee spend has become diverse, unaccountable and unmanageable, it is crucial for modern finance leaders to manage business finances more effectively to reduce costs and increase control and transparency in business transactions. The event provided CFOs and CIOs with deep insights on deriving accurate, consolidated and current data to drive savings and reduce risk across the entire business. Concur, with its cutting-edge technology suite, enables organizations to automate the process of business expense, invoicing and spend management.

“While today’s businesses are well on their path to go digital, the bottom line remains critical across the offices of the CFO,” said SAP Asia Pacific Japan Regional Chief Financial Officer Richard McLean. “CFOs must keep up with the accelerated pace of change in the business, analyzing financial and performance data quickly to derive instant insights to enable right decisions at the right time. Concur addresses enterprises by helping automate the spend management process that can increase productivity and revenue. Our aim is to help companies in their journey towards financial transformation.”

“Sri Lanka currently has around US$1 billion spending on business travel, which is likely to increase manifold by seven to nine percent in the coming years. With the changing market dynamics and the need to automate business processes, we see a significant growth potential in this market. We seek to leverage our strategic foothold as the country’s main software solution provider for business travel, invoice and expense management,” said Concur Managing Director Neeraj Dotel.