SAP Concur and Blue dot: Giving you the Ability to Accurately and Efficiently Report Taxable Employee Benefits for Effortless Compliance

Today, SAP Concur has launched Concur Benefit Assurance service by Blue dot. This means our customers now have visibility into spend for a better understanding of the cost of taxable employee benefits and the implications of different policy decisions.

Taxable employee benefits such as business-Leisure (bleisure) trips, an electric car charged at the company’s charging station, or a private Internet bill are all on the rise because of hybrid working and increased employee expectations. In fact, research shows that 49% of businesses in the UK and Ireland introduce a new workplace benefit every second since the Covid-19 pandemic started.

However, these new benefits also all have something in common: they can cause compliance issues because under certain circumstances they are subject to taxation.

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To manage these so-called taxable benefits properly, companies need to have processes in place that can identify which expenses are considered employee benefits, and which, when identified, are subject to taxation in accordance with various country laws and local company tax agreements. Concur Benefits Assurance does just this for companies.

By using Concur Benefits Assurance you can:

• Identify benefits: Identify new reimbursable expenses like office supplies, home internet and mobile phone plans.
• Understand tax benefits: Keep an accurate record and gain a better understanding of the real cost of taxable employee benefits and the implications of different policy decisions.
• Validate spending data: Automate the extraction, matching and validation of spending data with the assistance of AI and ML.
• Make payroll easier: Stay on top of changes to your benefits package and track every taxable benefit by making the information accessible to payroll managers.
• Improve accuracy: Reduce the inevitable errors that come with manual processes by digitalising and automating the compliance process
• Track your benefits: Stay on top of changes to your benefits package and track every taxable benefit

In addition to identifying taxable items in an expense report, Concur Benefits Assurance by Blue dot also provides visibility into spend for a better understanding of the cost of these taxable employee benefits and the implications of different policy decisions. This helps companies tailor compensation packages that are both attractive and affordable within current budgets and goals.

For employees, having these expenses managed properly by their employer means that there is no feeling of uncertainty that they might have to face unexpected back taxes following a bleisure trip, for example.

At SAP Concur, we are committed to helping our customers adapt to the new world, with tools that enable them to reinvent and transform their organisation whilst matching ever-increasing employee expectations.

Learn more about Concur Benefits Assurance today.