Explore the key differences between SAP Concur vs Summit. Discover which solution can streamline expenses and boost efficiency for your finance team.
For finance teams in Singapore, staying ahead means finding smarter ways to manage expenses while minimising repetitive tasks. With finance professionals often facing unfulfilling workloads and a high risk of burnout, automation has become more than just a convenience—it’s a necessity. A recent study by YouGov even found that 40% of finance experts are considering leaving their roles due to overwhelming manual tasks and limited process automation. Enter two powerful solutions in expense management: SAP Concur and Summit. Which one fits your business best?
Smarter vendor invoice management: SAP Concur vs Summit go head-to-head
Both SAP Concur vs Summit offer solutions to simplify vendor invoice management. SAP Concur provides a structured system to process and track invoices, allowing users to oversee vendor payments, match invoices to purchase orders, and improve visibility into payables. Summit, however, approaches vendor invoice management with a unique focus on automation and efficiency, using AI-powered tools that do more than process payments. Summit’s platform can automatically scan invoices, populate fields, and categorise expenses, reducing the need for manual data entry. This process-oriented approach saves time and improves accuracy, making it more efficient than traditional payment-focused systems.
SAP Concur vs Summit: Quick and easy reimbursements make claims stress-free
SAP Concur vs Summit both support employee reimbursements, enabling finance teams to manage claims quickly and accurately. SAP Concur offers a structured claims process, helping finance teams oversee employee expenses and ensure compliance with company policies. Summit stands out by streamlining claims management through advanced automation. Its AI-powered platform not only processes reimbursements but also verifies claims against company policies. This reduces errors, shortens processing time, and minimises costs, providing finance teams with a smoother and more efficient claims experience.
Flexibility in corporate cards and payments: What’s on offer for SAP Concur vs Summit?
SAP Concur includes corporate card management, allowing companies to track and control employee spending on company-issued cards. This feature provides a consolidated view of expenses, improving oversight and simplifying expense reporting. Summit is preparing to introduce corporate cards soon and brings additional flexibility with its SaaS-only model. Unlike SAP Concur, Summit does not require users to adopt its payment system; instead, finance professionals can choose their preferred payment method, offering flexibility that aligns with their internal cost-saving strategies. For companies seeking control over their financial tools, this adaptable approach may be an appealing advantage.
Pricing models: SAP Concur vs Summit
When it comes to pricing, SAP Concur vs Summit take different approaches that may impact finance teams depending on their needs and budget. SAP Concur relies on a user-based pricing model, where companies pay per active user, which can add up as the organisation grows. This approach is standard but may become costly, especially for larger teams.
Summit, on the other hand, offers a fair-use transaction-based pricing model, which is more cost-effective for companies that value flexibility. With Summit’s pay-per-usage pricing, companies only pay based on the actual transactions processed, not on the number of users. This makes it possible for businesses to onboard all employees without facing an added financial burden. Growing businesses, in particular, benefit from this model, as it allows full team participation without increasing overhead. For finance managers assessing SAP Concur vs Summit, this distinction in pricing could be a deciding factor.
Smart features for optimised expense management with Summit AI
In comparing SAP Concur vs Summit, Summit’s AI-powered features provide finance teams with advanced tools that streamline expense management, from receipt scanning to policy compliance.
Smart scanning
Summit’s smart scanning technology enhances efficiency by automatically populating expense fields and categorising entries based on receipt data. With support for foreign languages, Summit’s scanning feature can handle a wide range of receipts. This makes it easier for teams to manage expenses globally. The smart scanning technology reduces manual input, saving time and improving accuracy.
Policy checker
Summit’s AI policy checker helps ensure expenses align with company guidelines, flagging non-compliant claims before they reach the approval stage. Finance teams can upload their expense policies. Summit’s AI will verify each claim’s compliance, reducing errors and providing valuable feedback. This feature adds an extra layer of control and helps streamline the claims process, making it simpler to manage large volumes of expenses.
Advanced automation
Summit’s advanced automation supports workflow customization, allowing finance teams to set up specific approval routes and maintain a clear audit trail for rejected claims. With these tailored workflows, managers can assign different approval stages, making the process more transparent and efficient. This functionality empowers finance teams to manage claims with precision and ease. It reduces the administrative burden associated with traditional expense management.
These intelligent features make Summit an attractive choice for finance teams looking for an AI-driven alternative in the SAP Concur vs Summit comparison.
Discover the smarter way to manage expenses
Ready to see how Summit’s AI-driven features can streamline your expense management? Contact us today to learn more about our flexible pricing and powerful tools, or book a demo to experience the Summit advantage firsthand.
