Business Travel in the iPhone Age: Lessons Learned and Future Strategies
It’s a little over 10 years since the iPhone was launched. Many things have changed in the business travel world since then, but few have had as much of an impact on travellers' productivity as the ubiquitous mobile phone.
Business TravelChrome River and Lyft Launch Integration for Even Easier Business Rides
Chrome River and Lyft are making it even easier for business travellers to create expense claims.
Chrome River, Expense ManagementCreating and Enforcing Expense Policies: The Happy Medium for Cost Control and Employee Satisfaction
Corporate travel and expense policies have long been a hot-button issue for HR departments. On one side are travelling employees, who want to be able to choose the airlines and hotel chains where they have high status, or select flights and lodgings that are more convenient for them. On the other side are CFOs and corporate controllers, whose primary focus is to manage costs and minimise unnecessary spend. While these may seem like two groups that will never find common ground, a combination of reasonable policies, intelligent enforcement, and smart technology tools can keep all parties happy.
Expense Management, Expense PolicyWhy the Manual Invoice Processing Model Is Broken (And How to Fix It)
Every organisation’s finance team knows that controlling supplier costs is critical. However, one area that many organisations have yet to address is the actual cost of the invoice management and processing function.
Accounts Payable, For CFOs6 Reasons for Implementing an Expense Management System
Forty-six percent of respondents to a recent survey said they still submit their expenses manually - stuffing their pockets, wallets and briefcases with wrinkled receipts. These bunched up pieces of paper then get stapled to printed spreadsheets that must be typed up, listing every detail of every item, and then mailed to accounting departments. In an era where the majority of business functions have been automated, expenses are one of the few areas that still involve an excessive amount of manual processing.
Expense ManagementHow Expense Automation Can Increase Manufacturers’ Profit Margins
Any opportunity for manufacturers to lower manufacturers' operating expenses is welcomed by the CFO, whether this is hedging against commodity price increases and exchange rate fluctuations, or identifying opportunities for cost reductions within the supply chain. But what about reducing the cost of back-office processes?
Expense ManagementReducing Employee Expense Fraud – Strategies and Tools for HR Leaders
It’s estimated that expense fraud committed by employees adds up to nearly $3 billion per year across North America. How can HR teams prevent this from happening at their organisation?
Expense Management, Expense Policy, FraudCapturing and Optimising Your True Corporate Travel Programme Spend Using Total Cost of Ownership
If your CFO or controller asked you to provide the organisation’s total travel spend over the past year, how would you get that data? The obvious (and traditional) answer is to ask for reports from your travel agency, breaking down hotel, flight and rental car costs. That should give you a pretty accurate figure, right? Well – not really.
Expense Analytics and Reporting, Expense Management, Expense Policy, For CFOsSpecialist Expense Vendors vs. ERP Suite Modules: Pros and Cons
For mid-size and large companies, best-of-breed travel and expense or all-in-on isn’t the only decision to be made when it comes to expense software. Many ERP providers also offer expense management capabilities as part of their broader suite of financial and HR tools. How do you decide which works best for you?
Expense Management, For CFOsNew Gartner Market Guide: Key Criteria for Travel Expense Management Solutions
Gartner has just released its 2017 Market Guide for Travel Expense Management (TEM) Software. The guide is essential reading for any organisation that’s thinking of investing in an expense management solution in the coming year, or is considering upgrading its existing solution.
Expense Analytics and Reporting, Expense Management, For CFOsSearch
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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.