Will Rising Hotel Prices Impact Your Business Travel in 2014?
Traveling on business next year? Expect to pay up to 6 percent more for your hotel rooms, according to travel expense management experts. With a stronger economy and higher occupancy rates, hotels aren’t as eager to haggle, reports a new study by the Tisch Center for Hospitality at New York University.
Expense ManagementAre You Preventing Expense Fraud (and Honest Mistakes)?
Perhaps you’ve been at a restaurant or a nightclub and overheard someone at the next table say, “Don’t worry about it — it’s on my expense account.” You glance over at the group and wonder, “That’s a business function?”
Expense ManagementWatch Out: Young Business Travelers May Spend More on the Company’s Dime
The habits of young business travelers differ from those of more seasoned employees, according to a new survey. That’s especially true when it comes to travel expense management and posting online reviews, The Los Angeles Times reports.
Expense ManagementDon’t Get Bogged Down by Ever-Changing IRS Per Diem Rates
The rules that govern which travel expense claims are deductible are always changing. On October 1, new per diem rates set by the IRS took effect, requiring most US businesses to make adjustments in how they report travel expenses. Keeping up with these ever-evolving regulations is a major challenge in travel expense management. An automated expense policy is the starting point for managing these challenges more effectively.
Expense Management4 Loyalty Program Changes That Irritate Frequent Travelers
These days, loyalty programs are everywhere, whether you’re using an online shopping membership like Amazon Prime for shipping, swiping a credit card to earn cash back, or scanning a quick-response code for a discount at your neighborhood coffee shop.
Expense ManagementSensitive Business Information on Mobile Devices Poses Security Issues: Are You at Risk?
Today’s business travelers rely on mobile devices for any number of important tasks, from staying connected to the workplace to travel expense management. Despite the sensitive nature of the business information flowing to and from smartphones, tablets and laptops, relatively few organizations have policies that address the potential security issues, according to BusinessTravelNews.com.
SaaS and Cloud for APSuperior Spend Control Is One of Four Factors Driving Investment in AP Automation
It’s easy to see the disadvantages of a manual, paper-based accounts payable system: high costs, inaccuracy and inefficiency. Yet investment in AP automation tends to lag behind customer-focused improvements, according to a study discussed in Business Finance. Paper checks still account for over half of business-to-business payments, but that number is steadily declining as AP departments gradually move toward automated electronic processes.
Invoice ManagementFacts Don’t Drive Technology Changes – Get Your CFO Involved
Facts alone are seldom persuasive enough to drive changes in an organization, much to the frustration of those with superior technical know-how but limited political clout. At most organizations, having the ear and support of influential executives is also vital to implementing a new process or tool, like an automated expense report program.
Expense Analytics and Reporting5 Ways the Cloud Helps Accounting Departments Navigate a Rapidly-Changing Regulatory Environment
From evolving audit standards to the future of new technologies, a recent Accounting Today article solicits insights from five industry experts addressing the latest trends in accounting. Today’s regulatory environment is rapidly changing and growing more complex. But such new technologies as cloud-based AP automation and expense management software are helping accounting departments keep pace and improve performance.
For CFOsInvoice Scammers Are Getting More Skillful and Subtle – Have a Good Defense
The bill arrives a few days after your company purchases a domain name for a new service you’re launching. The invoice is an administrative fee for registering the new web address with the international domain name directory. While this document looks official and the amount requested seems feasible, it’s a scam. Is your company’s invoice management system robust enough to weed out these scams and solicitations?
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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.