SAP Concur, a global leader in integrated travel, expense, and invoice management solutions, has revealed its business forecast for 2024. Executives predict that Artificial Intelligence (AI) will be the common thread weaving through the fabric of their predictions. SAP Concur’s solutions have included AI at their core for approximately ten years, but increased visibility prompted by generative AI in 2023 has thrust these advances into the limelight. Indeed, it is expected that AI will be pivotal in the ways all businesses operate, particularly travel, expense, and invoice (TEI) management.
The outlined trends for 2024 comprise of virtual payments simplifying reimbursement methods, technology and budget adaptability increasing organisational certainty, the emergence of predictive analytics for expenditure management, tension arising from business travel cost reduction, and Corporate Social Responsibility, New Distribution Capability (NDC), and AI being at the centre of the…