Fapiao Capture, SAP Concur’s new business expense management software designed for Chinese enterprises, promises to deliver digital, mobile T&E solutions that comply with China’s tax policies, laws, and regulations.
The Chinese consumers have been enjoying the convenience and accessibility of non-cash transactions for quite some time now while the rest of the world has just recently embraced mobile payment along with the massive use of mobile devices. Having over 81{aa282f308afcc222aaa21b0478c79e01a8fedd01972e2180867097bd93930f22} of smartphone users in the country, China was the global leader in terms of proximity mobile payment adoption in 2019. In a separate online survey conducted by Deloitte China in 2018, the country is well above the global average in terms of managing personal banking accounts and paying for shopping through mobile phones. Mobile payment is replacing bank cards and is becoming the inseparable wallet of Chinese mobile phone users.
Catching on the country’s mobile expense management momentum, SAP Concur has released the next generation Fapiao Capture to support enterprises’ digital transformation journey by driving efficiency and compliance in expense management processes, enhancing employee reimbursement experience, and improving intelligent financial management capabilities.
Business Expense Management Software Only for China
The development of Fapiao Capture reflects one of the goals of SAP Concur’s recently established R&D center in China– to focus on mobile application product development to cater to the developing Chinese enterprises’ user needs.
Back in 2017, SAP Concur has introduced an electronic fapiao (a Chinese tax receipt) solution, developed to integrate seamlessly into China’s WeChat platform that has a powerful user base. The solution was designed to support the rapid development of the country’s electronic fapiao system. In April 2020, the Ministry of Finance and the State Administration of Records announced that they would expand the e-fapiao trial scope to speed up its process for VAT purposes.
Fast-forward to 2021, the world’s leading provider of travel, expense, and invoice management solutions SAP Concur continues to develop intelligent solutions uniquely designed for the evolving Chinese enterprises and their consumers. The recently launched Fapiao Capture, another business expense management software from SAP Concur, addresses the distinctive needs of the Chinese market.
“SAP Concur is committed to helping Chinese enterprises achieve intelligent expense management by integrating innovative technology into the entire process. By creating intelligent travel request, booking, reimbursement, and management for enterprise users, we not only provide employees with a more convenient and relaxed travel booking and reimbursement experience but also enable corporate financial managers to carry out travel approval and management more efficiently and accurately,” Jeff Lam, General Manager of SAP Concur Greater China, said,
The SAP Concur Fapiao Capture focuses on enhancing the Chinese enterprises’ business expense management processes in the following key areas:
Enhanced user experience. The new solution offers an enhanced reimbursement experience for employees by allowing them access to electronically verified information that validates authenticity minus the manual data entry. Once Fapiao Capture is deployed, users can easily obtain paper or e-fapiaos from various channels like WeChat Mini Programs, WeChat wallet, and their photos and upload them to mobile applications or web systems in a click.
Automated expense reporting. The SAP Concur application utilises automation technology to simplify the creation of travel expense reports. It ensures that the expense request and reimbursement process comply with the company’s travel allowance policies. Employees are also able to request travel allowance in the mobile application.
Localised compliance. Specifically developed for China, Fapiao Capture helps enterprises fulfill the authenticity verification requirements for both paper and e-fapiaos in compliance with the country’s tax policies, and laws, and regulations. The new solution leverages AI and Optical Character Recognition (OCR) technology in accurately converting fapiaos into electronic data and then interfaces them with the IRS system for authenticity verification.
