Three Reasons Why Manual Expense Management Kills Policy Compliance
We all know why companies plan out corporate travel expense policies. They provide clear do’s and don’ts to business travelers, which saves organizations money by reducing excessive and wasteful spending.
Expense Management, Expense PolicyTaking Corporate Cards into the Virtual Age
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The end of the traditional corporate card era is looming. The way that organizations source, pay for, and reimburse business travel has changed more in the past five years than the previous several decades combined.
Accounts Payable, Expense Management, For CFOsDo You Know the True Cost of Sales?
Companies know how much their employees spend on hotels, flights and meals. While this information may help the travel manager, it doesn't help finance or sales leaders to measure how T&E spend impacts revenue generation.
Business Travel, Expense Analytics and Reporting, For CFOsWhy UX is a Critical Factor for a Successful Software Deployment
Any investment that a company makes in a new product or solution can only deliver its intended benefits if it's used - and embraced - across the organization. While reluctant employees can avoid having to use some software solutions, when it comes to tools such as expense reporting, there isn’t really an option to sidestep it. However, this doesn’t mean that an optimal user experience needs to be an afterthought in the software review process.
Chrome River, Expense ManagementHow Automating Invoice Processing can be a Shot in the Arm for Hospital Finance Teams
Hospitals typically receive a quarter of their invoices outside the PO system - often from smaller, local vendors. Processing these invoices manually can take thousands of hours and cost tens or hundreds of thousands of dollars each year. What can hospitals do to streamline these processes and reduce administrative costs.
Accounts Payable, Invoice ManagementWhy your Expense Policy Should Follow your Business Travelers (Not Just the Other Way Around)
How often does your organization's expense policy get updated, and how does it address innovations in travel and travel technology? In order to keep your employees satisfied, you should ensure that your policy stays abreast of emerging travel trends.
Expense Management, Expense PolicyWhy is Mobility the Foundation of Effective Expense Management in Construction?
The construction industry is more exposed to economic ebbs and flows than almost any other sector of the economy. As a result of this position, construction companies must ensure that they carefully maintain cash flow and cost control, even during boom periods. How can employee expense automation solutions help this?
Expense Management, Expense ReportsThe Cost-Control Benefits of Analytics in Expense Management
Expense report software solutions can create huge volumes of data on employees' business travel spend. How can organizations use this to make smarter decisions?
Expense Analytics and Reporting, Expense Policy, Expense Reports, Fraud7 Reasons Why the Finance Team Should Push for Expense Management Software
While there's no denying that automating end-user processes and enabling hassle-free mobile submission of expense reports provides major ease-of-use and time-saving benefits for business travelers, the ROI that these benefits deliver is often dwarfed by the impact that expense automation has on the finance function.
Accounts Payable, Expense Management, For CFOsBusiness 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 travelers' productivity as the ubiquitous mobile phone.
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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.