Real-Time Visibility: How Synaptive Medical Achieved Smarter Spending with SAP Concur Solutions

In the fast-paced world of medical technology, innovation is key. Synaptive Medical, a Toronto-based company known for developing advanced medical devices and imaging technologies, exemplifies this commitment to innovation. However, as their Director of IT and Security, Darren Anderson, discovered, internal processes can often lag behind external advancements. That’s where SAP Concur stepped in to revolutionize their travel and expense management, leading to smoother operations and smarter spending.

Identifying the Challenges

When Anderson joined Synaptive Medical, he quickly noticed a significant operational blind spot. While the company excelled in creating cutting-edge tools for neurosurgeons and radiologists, its travel and expense processes were anything but efficient. Employees were booking travel through various agents and websites, leading to a lack of oversight and control over spending. This fragmented approach not only consumed valuable time but also risked the accuracy of financial data.

“One person was doing absolutely every person’s expense in the company on their own,” Anderson recalls. “It wasn’t just inefficient—it was unsustainable.”

Recognizing the need for change, Anderson was determined to find a solution that could automate and streamline these processes.

A Shift Towards Efficiency

Anderson’s search for a robust travel and expense solution led him to SAP Concur solutions. Prior to this decision, Synaptive Medical lacked a centralized booking system, relying on manual methods that resulted in chaos and delays. The introduction of Concur Travel and Expense transformed the company’s operations.

With SAP Concur solutions, Synaptive Medical gained the ability to centralize travel bookings and automate expense reporting. Employees now received receipts directly in their emails, which automatically uploaded to Concur Expense, streamlining the entire reporting process.

“Fast forward six months, and we have online booking, and we really cleaned up our expenses,” Anderson explains. “It’s streamlined!”

Smarter Spending, Real-Time Visibility

The transition to SAP Concur solutions didn’t just simplify processes; it provided Synaptive with unprecedented visibility into spending. By centralizing travel bookings and automating expense tracking, the company was able to enforce travel policies effectively. This meant employees could no longer make last-minute, costly travel decisions without oversight.

“We want to ensure that employees are booking their travel in advance,” Anderson states, highlighting the importance of resource management. This proactive approach fostered a culture of cost-consciousness among employees, leading to smarter spending decisions.

Anderson shares a noteworthy example where one employee saved 8% on accommodation by choosing a hotel in Mississauga instead of downtown Toronto.

Financial Control Under the Microscope

Perhaps the most significant benefit of implementing SAP Concur solutions was the real-time visibility into finances that Synaptive Medical gained. Before this change, understanding where money was being spent was a challenge. Now, the finance team can track expenses as they occur, allowing for better budget management and resource allocation.

“We’re now pulling the data on users on a regular basis,” Anderson explains. “Finance can see exactly what’s being spent, and managers as well.” This transparency not only reduces waste but also enhances financial accountability across the organization.

Looking Ahead

The implementation of SAP Concur solutions was not just a quick fix for Synaptive Medical; it laid the groundwork for ongoing improvements in their operations. Anderson envisions a future where the company continually assesses its travel and expense processes, looking for new features and integrations to further enhance efficiency.

“We’re going to have a yearly touch point and say, ‘What are we doing? Can we do it better?’” he shares. This commitment to continuous improvement ensures that as Synaptive Medical advances in medical technology, its internal operations remain equally sophisticated.

Conclusion

In a world where every detail counts, having the right tools in place can make all the difference. For Synaptive Medical, partnering with SAP Concur has provided the clarity and efficiency needed to navigate both their internal operations and the evolving landscape of medical innovation.

To learn more about how Synaptive Medical Transformed travel and expense management with SAP Concur Solutions read the full case study here.