What Percentage of Revenue Is Your Organization Losing to Fraud?
What if someone told you that about 5 percent of your organization’s revenue was being lost to fraud? It’s worth considering, because that’s the average loss for an organization, according to the Association of Certified Fraud Examiners. Most of that revenue slips away through fraudulent expense claims, payments and procurement.
Expense ManagementAnalytics Isn’t Just About the Data
To generate better business decisions, you need more and better data, right? Not necessarily. According to SmartData Collective, a successful analytics program requires much more than “big data” — it also requires communication, shared priorities and a decision-making culture within the organization.
Expense Analytics and ReportingAre You Prepared for the Virtual Office?
For many organizations, mobile employees and a distributed workplace have become attractive and cost-effective alternatives to the traditional office. Advances in cloud technology, high-speed networks and mobile devices have made working from the road — or from home — a serious proposition. And as more companies go virtual, mobile applications are going to be more important than ever.
SaaS and Cloud for APIncreased Business Travel in 2014 Calls for Automated Expense Management
New studies predict increased business travel in 2014, according to NBCNews.com. With these changes on the horizon, tools for travel expense management will be more important than ever. Additional travel is likely to generate more data and paperwork for travel managers, unless a streamlined, automated system can be implemented.
Expense ManagementHow Analytics Help CFOs Connect Strategy to Finance and Accounting
The CFO’s role is dramatically changing at many organizations, with duties going beyond the traditional tasks of overseeing the finance, accounts payable management, treasury and risk management functions. As organizations call upon CFOs to play larger roles in business strategy and organizational leadership, analytics tools will be vital for connecting strategy to finance and accounting, according to an article on CFO.com.
Expense Analytics and ReportingGo Paperless: 5 Reasons to Switch to Electronic Invoice Processing
In a humorous take on manual invoice processing, a post on the Business 2 Community blog highlights the “paper addiction” problem prevalent in some offices and prescribes a 12-step recovery plan.
Invoice ManagementAnalytics Are Not Hype: You Need Them To Be Successful
Consider the business books of yesteryear: Many of the titles will make you wince — if you remember them at all. In general, management gurus’ trendy concepts and buzzwords don’t age well, according to EPM Channel, a website focused on enterprise performance management news and insights. Even in accounts payable management, fads come and go. As more organizations jump on the “big data” bandwagon, are analytics initiatives just another example of management hype?
Expense Analytics and ReportingCut Your Travel Costs in Half
What if your organization could cut business travel expenses in half just by implementing expense management software? That’s what a new survey suggests, according to BusinessTravelNews.com.
Expense ManagementDo Your Technology Projects Fade Before the Rewards are Gained?
At the launch for a new technology initiative, the project team is often riding a “sugar high,” and executives have vaguely grand things to say. With any long-term project, whether it’s a “big data” initiative or implementing AP automation, the initial rush of enthusiasm eventually fades while the rewards seem far off. How can your organization keep up the momentum with worthwhile projects that take a while to reach maturity?
Invoice ManagementDo You Treat Business Travel Like a Vacation?
Mixing business and pleasure is tempting, but you’ll be better off approaching business travel like it’s your job, instead of a mini-vacation. In fact, by focusing on efficiency, productivity and professionalism, you’ll probably enjoy smoother travel and receive better treatment than an infrequent traveler on vacation.
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Our choice of Chrome River EXPENSE was made in part due to the very user-friendly interface, easy configurability, and the clear commitment to impactful customer service – all aspects in which Chrome River was the clear winner. While Chrome River is not as large as some of the other vendors we considered, we found that to be a benefit and our due diligence showed that it could support us as well as any large players in the space, along with a personalized level of customer care.
We are excited to be able to enforce much more stringent compliance to our expense guidelines and significantly enhance our expense reporting and analytics. By automating these processes, we will be able to free up AP time formerly spent on manual administrative tasks, and enhance the role by being much more strategic.