CFOs Down and Dirty: Using Data to Bridge Management and Operations
Traditionally, CFOs and their finance teams stayed narrowly in the arena of management. They strategically employed data-driven analytics to manage the business from the upper levels. As the ability to collect and analyze data has exponentially expanded, CFOs are increasingly in a position to aid their organizations in improving profitability and efficiency and more granular levels.
Expense Analytics and Reporting, Expense Management, For CFOsBusiness Analytics Must Move Beyond Pie in the Sky Thinking for Cloud Computing
Cloud technology has revolutionized nearly every industry - from technology to healthcare to hospitality to food service to telecommunications. Small and large businesses, the government and educational institutions depend on cloud-based software applications for many organizational functions. Cloud-based applications enable or enhance activities like more robust data storage, collaborative projects, automated marketing and more streamlined billing.
For CFOs, SaaS and Cloud for APSurvival of the Fittest: Be Ruthless or Die
When it comes to survival of the midsize firm, you have two choices. You can be ruthless. Or you can die. Time is your biggest resource and the one most often abused. Because of the precarious spot in which midsize companies are wedged, inefficient use of time will kill you every time.
Accounts Payable, Expense Management, For CFOsThe Secret Test To Assure Superhero Hires For Your Finance Team
When it comes to hiring finance staff members, the traditional hiring process may not be enough to ensure you’re getting the best candidate for the job. Candidates may shine at the interviews, ace your proficiency tests and amaze with their litany of technical skills, but you won’t really know what they're all about unless you throw a real-world financial dilemma into their lap.
Expense Management, For CFOsGoodbye Bistros and Martinis, Hello McDonald’s
Expense accounts used to mean lunching at trendy bistros and dining with martinis and wine. Not anymore. Corporate workers have shifted from expensing restaurants that are high and mighty to those that are fast and cheap. The overall average cost of an expensed meal these days is around $18, with the top five expensed restaurants listed below.
Business Travel, Expense ManagementAre CIOs Poised to Become Internal Venture Capitalists?
There's an evolution (or maybe a revolution) of sorts taking place as CIOs look to enhance the value of their already critical organizational role. In many ways, CIOs are poised to become internal “venture capitalists.” This actually makes complete sense when the functions of a typical CIO are considered.
For CFOsAre Charities Managing Expenses Charitably?
In a recent comprehensive study conducted by the Independent Expert Group on Expenses, one out of every five charities answering survey questions posed by IEG stated that they "did not have an expense policy established.“ Response comments provided by IEG indicated that the Group considered "expense management part of basic internal controls and good governance" and further stated that "charities need to be encouraged to rectify this matter.”
Chrome River, Expense Management, For CFOs, SaaS and Cloud for APWhen Reducing Expenses Isn’t Enough: 4 Keys to Long-Term Effectiveness
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Cutting costs — and keeping them in check — is an ongoing and essential job. But, as anyone tasked with managing a budget can attest, it only goes so far. At some point, you simply need to bring in more money.
Expense ManagementLottery Tickets, Cosmetic Surgery and Pet Food, Oh My! How to Prevent Unauthorized (and Ridiculous)
Need socks, groceries and pet food? Sure, that’s fine. Feel the need to buy some new golf clubs or maybe a teepee? Hey, that’s your concern. Want to gamble on the lottery — or a cosmetic surgery procedure? It’s no big deal until you try to slip them past your employer as expense claims.
Business Travel, Expense Management, Fraud3 Facts Every CFO Should Know About Predictive Analytics
Analytics platforms are essential tools in today’s organizations. Business leaders rely on them to facilitate fast, effective decision-making, while operations managers use such tools to deliver smooth execution of day-to-day processes. But it’s a mistake to think of analytics software as some kind of magic bullet.
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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.