KriyaGo - Blog #SAP Concur

How KriyaGo's Integration in SAP Concur Can Help in Expense Management

Mon, 21 Aug 2023 21:54:18 -0400

The global tourism sector is expected to grow its GDP contribution to $15.5 trillion by 2033, showcasing 11.6% of the global economy, and will expect to employ around 430 million people all over the world—that’s quite incredible!

Expanding global business and mobility has increased the global demand for corporate tours and travel. According to Global Bussiness Travel, we will witness an uptick in corporate tours in 2023 compared to 2022.

However, you must know business trips need to clear travel expense policies, employee reimbursement, and real-time analytics and also require to follow other steps to manage the travel and spending. But you can make the whole corporate trip easy by using KriyaGo and the advanced travel expense management software SAP Concur.

KriyaGo & SAP Concur in Expense Management

SAP is a US-based company mainly dealing with travel and expense management solutions. Since 2014, SAP used Concur technology and has started to upgrade its software to control travel booking seamlessly and conveniently. Moreover, it also introduced expense tracking software so travelers can easily manage their spending.

Additionally, by collaborating with KriyaGo, which offers software support and consultancy, many small and large businesses are now streamlining their travel and expense management more efficiently. So, let’s take a quick look at how KriyaGo can be helpful with SAP Concur for businesses to manage their expenses.

Help to manage your expenses

KriyaGo and SAP Concur help business enterprises stay updated by integrating Machine Learning and Artificial Intelligence Technology. With this expense management service, it is simple to control all the travel expenses even before going through any kind of booking. Moreover, through the virtual purchase, you can capture real-time data and add more value to it.

With KriyaGo integration, it is also possible for business firms to automate different types of tasks, like submitting a request for travel, making bookings, and many more. It helps employees to receive an enhanced user experience that ultimately allows them to provide the best presentations to boost the business decision.

Bringing innovation in travel

The scenario of the global corporate sector is changing very fast. That’s why conventional booking will not help businesses drive expected ROI anymore. However, KriyaGo and its innovative techniques have started to benefit companies by bringing all the data together to book corporate tours quickly. Besides that, integrating KriyaGo and SAP Concur can help businesses in many other ways.

Providing travel management practices: KriyaGo integration with SAP Concur comes with effortless and modern strategies for business travelers, which include detailed planning, expense policies, and built-in compliance.

Automatic rejection or approvals: KriyaGo can set up user permission for the software according to your needs. That will help authorized users to access all the data using any device from any location. Also, with this, businesses can approve or reject travel requests whenever they want.

Providing real-time reports: It is easy to get insights, reports, and key performance indicators of your travel expenses in real-time. Business firms can also monitor and compare expenses with previous years.

Integrating mobile application

In recent times, the travel industry has started to speed up with the integration of effective travel apps. It is easy to get all travel-related information from a single platform nowadays. You can plan your trip, strategize your expenses, book, and report to your employees with just a few clicks.

KriyaGo can integrate SAP Concur products with multiple operating systems. And, businesses can integrate the Concur system with real-time data synchronization using any device. That also includes smartphones to manage all types of work, even on the go.

How KriyaGo can help with SAP Concur in Expense Management

Businesses can utilize the SAP Concur completely when they integrate it with KriyaGo. Together with SAP Concur, KriyaGo will help you to get the full advantage of using ERP software. Moreover, KriyaGo will help businesses use all SAP Concur products, which includes expense tracking, simplifying the workflow, and generating reports of your business expenses.

With 25 years of experience in the market, KriyaGo expense management is helpful for real estate property owners, investors, or managers. There is no doubt that KriyaGo is taking the real estate market to the next level by developing this integration. Thus, it can easily eliminate the technological gap by connecting Concur Expense to real estate ERPs.

Solutions businesses can get with this integration

KriyaGo specifically has come into the market to deal with complex real property accounting needs. That includes:

Property and expense accounts will determine how statements are distributed for corporate credit cards.
Multiple properties or legal entities can distribute the expenses, even if the corporate office pays them
Starting expense reimbursement through payroll and creating an account entry in the ERP
Charging expenses back to tenants
Initiating inter-company transactions

KriyaGo can help businesses by eliminating data mismatches and other quality issues without replacing the system and using multiple integration endpoints. Also, you will be able to maintain a single source of truth by enabling data to flow smoothly across the enterprise system in real-time.

Moreover, with the automated KriyaGo system, businesses can easily get rid of manual work, reduce tedious tasks, and boost the entire data quality. In a word, with KriyaGo integration, you can strategize better and make better decisions for your company.

Expense Management with KriyaGo

KriyaGo is the solution you need for managing all expenses and travel management processes. When businesses are focusing on boosting revenues, KriyaGo, with SAP Concur, will be helpful in managing all the reports and real-time analysis. Additionally, the collaboration with SAP Concur, KriyaGo, can help business firms enhance the control and visibility of travel expenses and save extra time for manual work.

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Top Benefits of Expense Management Software

Thu, 04 Nov 2021 15:56:33 -0400

Gone are the days when real estate agencies relied on paper processes and spreadsheets to manage expenses. Today, most of them have switched to expense management software to streamline workflow and improve productivity.

Are you wondering if you should make a move too? Do you need more information to make your decision?

In this blog, we will explore the top benefits of expense management software. We will provide you with accurate data so that you can make an informed decision for your business.

So, let’s start with the most important advantage of using a digital solution to manage your expenses.

Real-time visibility into financial position

You are bound to meet difficulties if you track all your expenses manually. The challenges grow as you manage more properties, tenants, and employees.

The situation comes to a point where you lose visibility into your company spending. As a result, you also lose control over your budget and end up making inaccurate forecasts.

Expense management software can provide real-time visibility into your real estate expenses. You will be able to track expenses as they happen, complete with all information like payer name, amount, time, and more.

Therefore, you can stay updated on every cent that leaves your business.

According to Gartner, real-time visibility enables entrepreneurs to manage risks better. They can also predict disruptions and save up to 20% of costs.

Best of all, you can gain complete control over your spending.

High-quality financial data for accurate predictions

Inaccurate financial data can take a toll on your bottom line. Additionally, they can end up in your reporting and  create a false picture of your financial position.

For example, you can report more profit than actual if your employees miss out on entering some expenses. As a result, you will now have to pay more taxes while filing your returns.

On the other hand, your business will look less valuable if you underestimate your profit.

An expense management tool can come to the rescue and improve data accuracy. It can help real estate agencies eliminate human errors and duplicate entries.

In addition, you can verify and cross-check data seamlessly. Therefore, your organization can aim for transparency and establish accountability for each expense.

Ultimately, you will be able to make accurate forecasts for more success.

Improved operational efficiency

COVID-19 had a detrimental effect on most industries, including real estate. The world around, commercial spaces close down as governments announced months of lockdown. Returns from properties also began to decline, putting entrepreneurs under stress.

According to McKinsey, the unutilized enterprise value of real estate dipped by 25% in most sectors. In the case of lodging, it went down by 37%.

As a result, real estate businesses are searching for ways to boost operational efficiency. They are looking to cut costs and optimize expenses to derive the most value.

Expense management software can go a long way to improve your operational efficiency and reduce costs. You can track every expense and find out whether it’s justified or brings returns.

Additionally, you can automate processes and improve efficiency. You can also reduce your payment cycles and avoid paying late fees.

In the process, you may even  improve your revenues by 20% to 30%.

Conserve resources, money and time

Real estate businesses spend endless hours on manual data entry and reconciliation. They also need days to approve expenses, collect receipts, and create reports that still contain errors.

Additionally, you also need to pay wages for the time given by your employees.

An Expense management solution can help entrepreneurs save time, resources and money in multiple ways. The top contributor is automation that can help organizations save $16 trillion in annual salaries.

You can automate your data entry, receipt collection, and even reconciliations. Additionally, you can create reports with a few clicks and get to the bottom of every transaction in seconds.

According to research, 54% of the workforce believes they can conserve 240 hours every year through automation. Additionally, you can also save the wages you would otherwise pay for those hours.

Moreover, real estate agencies can automate approvals with expense management software. They can also speed up reimbursements and pay your vendors on time.

Best of all, you can use your free time to grow your business and boost productivity.

Generate valuable insights

Expense management software provides real-time visibility and control over your expenses. Additionally, you get a host of reports and analytics to make out your financial position.

Entrepreneurs can use the data to spot trends and patterns in their business spending. They can drive actionable insights and optimize spending to generate more value.

For example, your software can help you zero in on expenses that are no longer necessary. You might find you are paying for a service that you don’t use anymore.

Therefore, you can take action and reduce your spending or choose another service.

In addition, you can integrate your expense management software with your accounting solution. The process will help you streamline processes further and simplify reconciliation.

You can also get ready information when you want to close your books or maintain your accounts.

Implement your expense management software with KriyaGo

Real estate agencies need to work with a solid partner to set up and implement expense management solutions. KriyaGo works with reputed software vendors to offer entrepreneurs the best experience.

We can help you get started with leading products like SAP Concur, Yardi, or Procore. Our team can also provide expertise, train your team, and help automate your business processes.

Get in touch with us today to tell us your requirements. You can also contact us for a free consultation of 1 hour to discuss your needs.

Final thoughts

Expense management software is the need of the hour for real estate agencies. The solution can help them save time, cut costs, and improve operational efficiency. They can also improve data accuracy, remove duplicates, and automate most processes to boost productivity. Additionally, a digital tool can provide complete visibility into expenses and help optimize business spending.

6 Advantages Of Outsourcing Back Office Operations

Tue, 13 Jul 2021 09:30:00 -0400

A company's back office employees do not directly contact a client. They are also not the face of the company. But the back office handles crucial tasks and functions to make front office management easier. Back office staff usually handle administrative and operative functions.

Why is Back Office important?

The back office handles several key tasks like database administration, HR management, finance, IT, and technical support. Having an efficient back office helps in the smooth functioning of your business processes. Additionally:

They handle multiple tasks

Your back office handles most of your financial tasks. They manage accounts, keep track of revenue and expenses, and ensure that all functions go smoothly.

They ensure front office productivity

While the front office focuses on building the company's image, the back office handles all tedious tasks. They make sure that front office employees have all the information they need. This ensures the front office is productive and focused on building the brand reputation.

They manage company data

Every day the company generates a lot of data in the form of client information and transactions. Your back office collects, organizes, and stores the data on a secure platform like the cloud. More than 90% of companies worldwide store data on the cloud. They also help make the data ready for analysis to gain valuable insights from the information.

Get more from back office functions through outsourcing

Having excellent back office management is crucial for a company's growth. The company relies on the back office for a majority of its functions. But, 60% of customer dissatisfaction is traced back to the company's back office teams. If you find it difficult to manage another in-house team, you can outsource your back office operations. Outsourcing has several benefits over managing an internal team.

They manage company data

Even if you have to pay for outsourcing services, it can reduce the overall costs of your back office operations. Companies that provide back office services have pre-trained staff that have hands-on experience. You can cut down on training and induction costs through outsourcing. They also have a well set out approach to all back office functions. This increases productivity and cost-effectiveness. According to EY estimates, you can save from 20-60% by automating your back office operations.

Moreover, most outsourcing services operate from cities with lower living costs. This can reduce your back office expenses while providing you better services than an in-house team.

Since the primary goal of the back office is cost reduction, outsourcing to an expert team is a smart choice.

Better resource management

Most businesses do not have a consistent workload for their back office team. For example, during tax season, the back office team may have to work overtime. This company will have to increase its employee compensation to account for the extra hours. While in other months, the back office team may not have much work at all. Regardless of the workload, the company will have to keep paying them a certain salary.

With outsourcing, you can utilize the services as per your requirements. Most outsourcing companies require payment on a project-to-project basis. You can hire them during a busy season and keep away from back office expenses when the business is slow.

Easy scalability

Depending on your clientele, your company may require additional back office staff. Or, you may also need to lay off a few employees if there is no business. With an in-house team, it is difficult to do so every time your clientele changes. Back office outsourcing provides easy scalability options.

These services have a team of experts working on different projects. You can always increase or decrease the amount of work assigned to them and pay accordingly. By outsourcing, you can improve your clientele without worrying about finance and data management operations.

Better expertise, services and technology

Back office functions require more than just trained staff. If you handle large amounts of data every day, you will need specific tools and software to make your back office functions more efficient. For different operations, you will require additional software. These tools can be expensive and add unnecessary expenses to your company's budget.

You can also choose to host your data on the cloud to make it accessible to you at any time. This keeps you in the loop with your back office operations while also leveraging the benefits of outsourcing. Data storage on the cloud also ensures that your data is secure.

Outsourcing services have a variety of software available with them. Companies like KriyaGo can also integrate features from multiple software to fit your requirements. This can save costs of buying and training staff for different digital tools.

Investment more time in other business functions

Outsourcing services take care of everything from employee training to payrolls. This reduces the burden of managing an in-house team. You can focus on other business operations such as marketing and data analysis. Tasks that increase the company's revenue, such as market expansion and product management, require more attention.

Outsourcing frees up your time to concentrate on your company's growth.

Better business opportunities

With easily scalable back office operations, your company can focus on increasing your client base. Most back office services use software capable of bulk work. Whether it is payroll management or bank reconciliation, back office services can handle everything. As you increase your market reach, you can scale your back office operations accordingly.

Automate your back office operations through KriyaGo

At KriyaGo, we believe the back office is the backbone of your company. Our back office services offer you better software and expert resources at lower costs. By outsourcing to us, you can drive core functions, ensure data security and get better control over the operations.

Additionally, we offer other software solutions for property management companies. If you are looking to integrate the best features from various software, KriyaGo is the right place for you. We work with platforms like Yardi, Procore, and SAP Concur to build customized software for our clients.

If you want to get the most out of back office outsourcing, book your consultation with KriyaGo!

Top Reasons Why ERP Integrations Fail

Wed, 30 Jun 2021 14:36:18 -0400

ERP systems integrate all business processes. However, companies choosing ERP have their share of doubts and questions. While ERP systems can streamline your business process, these projects do not come without challenges. Nearly 11% of ERP implementations fail to go live in the allotted time. A few of these failures are due to the software itself. But a majority of them are due to other avoidable reasons.

You can prevent these failures by taking the required steps. If you are considering ERP integration for your business, this article can help you identify the risks and also prevent them.

Common causes for ERP integration failure

Inadequate testing

Inadequate testing was one of the two significant problems noted during integration. Testing ensures that all data is accurate. While off-shelf ERPs are tested, customized ERPs usually lack rigorous testing.

And most testing is done under ideal conditions, which leads to ERP failure during stressful situations. A commonly known example is National Grid’s ERP implementation failure due to the lack of disaster testing.

What You Can Do: Test your software under various conditions, such as high volumes of data input and prolonged running.

Poor project planning and management

ERP integration projects contain several steps. Whether it is design, testing, or deployment, each step has some crucial tasks which need to be unified. To handle all these steps, you need an organized approach. Even if each step works individually, it may fail as a unified process. ERP projects can also fail due to lack of planning, inadequate management, or lack of coordination among various departments.

What You Can Do: Plan your integrations at the start and stick to the plan. Involve testing in each step and make sure you test the final project adequately.

Incorrect data import methods

If you are newly implementing ERP, you need to transfer all the old data into the new system. Often, migrating data from an outdated system has many challenges. For example, the older system might contain insufficient or bad data. Feeding this without proper conversion can lead to ERP failure. Therefore, every system requires specific procedures and lots of testing before data conversion is complete.

What You Can Do: Eliminate bad data from older systems. Change your data according to how it is utilized in the new system.

Not changing business processes

ERP integration is not just about the software. As a company, you need to adjust your business processes to include the new technology. Whether it is a different data entry method or a new procedure for managing finances, every employee should be aware of it. By resisting technology change, you won’t be able to reap all the benefits of the integration.

What You Can Do: Accommodate the software by changing certain business processes. Get the most out of your integration by building a business strategy around it.

Improper customization

ERP customizations require the right expertise. Many companies want customized software but are skeptical due to the risks involved. Improper customization can lead to data loss and software failure. You need to start with minor customizations and test them to look for errors. Customizing many things at once can break down your ERP systems.

What You Can Do: Hire professionals who can handle ERP customizations. A standard ERP may not have the required features. You need to be specific about your requirements so experts can plan the new features.

Lack of training

New software requires new skill sets. If you do not train your staff on using the integration, your integration will not achieve any results. From designers to deployers, you need to prepare everyone involved in the process. If inexperienced staff handle the software, it can make the integration appear “failed.”

What You Can Do: Involve your staff during software implementations. Make sure all of them understand how the software functions and how they can use it. Organize training sessions, so your employees get hands-on experience with the ERP software.

Impact of ERP failure

A single software failure can have irreparable consequences. We have seen top companies losing millions because of a faulty ERP integration. For your business, ERP failure can mean:

Loss of clients

Most companies use ERP software to deal with client data. Some companies also make digital products that they sell to clients. Your clients rely on you to provide them quality products or services. A single failure in such a product can cause a considerable loss to you and your client.

Cost of rectification

Rectifying ERP failures can cost much more than your decided budget. Determining the cause, remaking the strategy, and implementing the software again will also take a lot of time. This means more downtime and lesser revenue. Depending on the cause, you might also require restarting the whole implementation process.

Company reputation

A failed integration is a burden not just to you but also to your staff and clients. Rectifying the errors can take a while, so clients won’t be able to use your services. In addition, it can taint your company’s reputation due to inconvenience caused by the failure.

Despite all the risks, 95% of companies who opted for ERP implementation have seen business improvement. If done the right way, ERP implementations can be highly beneficial to your business.

A company specializing in software integration can help you avoid ERP failures by avoiding everyday challenges. They have the expertise and experience to build the right software integration for you.

Get reliable ERP integration through KriyaGo

Worried about ERP integration? Want the best integration services? Try KriyaGo!

We specialize in software integration for the real estate industry. Our services include software support, consultancy, and implementation. Many big and small enterprises are completely satisfied with KriyaGo’s software integration services. While the market has different software, we can help you customize them to suit your requirements.

At KriyaGo, we understand your company’s unique needs. If you require additional tools and features, we can integrate them for you! You can get the advantages of multiple property management systems such as Yardi, Procore and SAP concur - all in a single platform!

Book your free consultation to know more about our services!