AP Automation Frees CFOs’ Time To Focus On Strategic Growth Opportunities
Organizations often expect the CEO to provide strategic vision, but an article on CFO.com explains that the CFO can play a key role in scaling the company. To focus on growth, CFOs should first clear their desks of basic finance and accounting tasks by using outsourcing and AP automation, then use analytics to reveal financial obstacles and identify strategic opportunities.
Invoice ManagementCould Expense Management Enforcement Save Your CEO?
One of the top expense management challenges for organizations is enforcing corporate travel policies. Ensuring compliance is especially important (and especially difficult) when it comes to executive spending, as illustrated by a recent article from The Wall Street Journal’s MarketWatch.
Expense Management3 Ways Mobile Accounting Tools Can Give Your Organization A Boost
Finance departments already routinely use online platforms to collaborate and communicate with users. Now, new mobile apps are proving useful for employees who work on the go, an article on AccountingToday.com reports. Whether your organization needs online expense reporting, document access or just a quick way to look up data, a mobile app may offer the most convenient connection to your accounting department.
Business Travel, Expense Management, Expense Reports, Invoice Management4 Ways to Beat the Competition by Outsourcing Invoice Management
The world’s biggest companies are eager to boost bottom lines by outsourcing such finance and accounting functions as invoice management, an article on AccountingToday.com reports. So far, however, relatively few have seized these opportunities for cost savings, improved efficiency and analytical insights.
Invoice ManagementDrowning in Unstructured Data? Take Control with Expense Management Software
It’s one thing to have disorganized personal emails or vacation photos. For organizations, however, unstructured data presents a significant — and growing — problem. Using automated expense management software like Chrome River EXPENSE helps centralize expense data, and it can yield cost savings, greater transparency and valuable data assets.
Expense Analytics and Reporting4 Steps for Using Data to Improve Business Expense Reports
In the past, IT departments tended to assume that businesspeople didn’t want to deal with data, but a recent article on Forbes.com reports that assumption has been upended. In today’s “big data” environment, business and finance professionals want to have better access to enterprise data, along with the tools to analyze it, create business expense reports, and put key findings into practice.
Expense Analytics and ReportingHow Automating Travel Expense Management Can Boost Productivity While Limiting Costs
In today’s tough economy, the pressure is on to increase productivity while keeping operating costs down. Executives at midmarket companies are relying on technology investments to achieve this balance, according to an article in Business Finance. Many organizations can automate time-intensive manual processes like travel expense management as a way to increase efficiency and reduce staffing needs.
Expense ManagementLooking to Improve Your Business Skills? Frequent Travel Might Be the Answer
Perhaps you learned priceless life lessons while camping at Yosemite National Park or backpacking across Europe after high school or college. Or maybe you felt a certain pride while overcoming the challenges of taking your family on vacation. Travel often tests us, and it can make us stronger, more adaptable and more alert.
Expense ManagementWorking Across State Lines? Travel Expense Management Tools Are Essential!
If you or your employee spends as little as a day working in another state, you could be violating state tax laws if you don’t file a tax return there, according to a recent article on the CNNMoney blog. Each state has its own rules for reporting income, and frequent business travelers could be responsible for filing dozens of different state tax returns. For organizations whose employees travel regularly for business, travel expense management tools are essential.
For CFOsIs Your Expense Management Software Ready for New Regulatory Challenges?
Ever-evolving government regulations present major challenges for most organizations. Local, state, national and international tax laws vary widely in scope, and changes in the requirements often trigger industry-wide repercussions. The medical industry, for example, is scrambling to prepare for demanding new reporting requirements under the National Physician Payment Transparency Program: Open Payments (formerly referred to as the Physician Payments Sunshine Act).
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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.