Still Tracking Business Expenses the Old Way? New Hires Raise the Stakes
With rising confidence in the U.S. economy, many organizations plan to strengthen their ranks this year by hiring new employees and rewarding valuable staff with salary increases, according to an article on the Accounting Today website. Each new employee means new paperwork, including expense reports, so it’s imperative to take a look at how your organization handles tracking business expenses.
Expense ManagementCould Your Paper Receipts Be a Health Hazard?
The advice “make sure you get a receipt” may now require an addendum: “But don’t touch it!” Handling crumpled register receipts certainly kills productivity, but these receipts may also be a health hazard. Mobile expense management software could help reduce your exposure.
Expense ManagementManaging on the Go? Why Online Expense Reporting Is a Must!
The proliferation of mobile devices is making it easier for companies and their projects to spread beyond international borders. Mobile professionals of every stripe have joined globetrotting executives in working remotely from airports, hotels and their homes. In this working environment, keeping operations flowing smoothly requires increasingly sophisticated mobile data tools.
Expense ManagementHow to Uncover Opportunities and Solutions Within Your ‘Big Data’
Efficient marketing! Cost-effective client acquisition! “Big data” seems to promise improvements on every level. But while many organizations already amass copious amounts of data, it remains isolated in operational silos and disparate formats. The keys to uncovering opportunities and creative solutions within your company’s data are increasing transparency and making it easy for users to generate custom business expense reports.
Expense Analytics and ReportingSavings in the Cloud: 5 Benefits of Cloud-Based Expense Reporting
At many organizations, finance officers are taking note of the significant savings and operational benefits offered by today’s cloud-computing solutions. According to a recent article on wiredFINANCE, a blog from Business Finance magazine, cloud-based services and tools offer a number of advantages, including low cost and efficiency. Here are five benefits to consider in relation to your company’s expense management and online expense reporting.
Expense ManagementHow to Get More Bang for Your Buck with Preferred Vendors
Many companies today cultivate preferred vendor relationships in hopes of securing better prices, customer service and spending visibility, according to an article in CFO Magazine. With business travel on the rise, organizations are wise to develop preferred suppliers for such items as airfare, hotel rooms and rental cars. However, getting the most out of these relationships requires a streamlined, strategic approach to travel expense management.
Expense ManagementAuditing Expense Reports Manually Costs More Than It Saves
Armed with a calculator and a pencil, you compare an employee’s expense report to her receipts and find a mathematical error. Congratulations: You’ve just saved the company $35. The only problem is that auditing these business expense reports can easily end up costing more than it saves, especially if you manually process the reports.
For CFOs3 Tips to Tackling Legal Compliance with Expense Management
Reimbursing employees for expenses is already complicated — especially if you’re processing the expense reports manually. Keeping your expense policy in compliance with all laws adds an additional layer of complexity. Effective expense management provides managers with greater visibility into spending, minimizing such risks as lack of compliance with statutory requirements.
Expense Management5 Ways Automated Invoice Management Can Save You Money
With cloud-based services growing more robust and popular, automated invoice management tools present many businesses and organizations with new ways to cut costs. These tools, available as a Software-as-a-Service (SaaS) subscription, can ease or eliminate data entry and help managers control expenses through improved visibility.
Invoice ManagementIncreased Spending Requires Analytics to View Trends and Analyze Expenses
As the economy continues to recover, many companies are now planning to hire additional employees and increase capital investments, according to an article on the CFO Magazine website. When a company has new initiatives on the horizon, it’s more important than ever for managers to track and monitor their employees’ business expense reports.
Expense Analytics and ReportingSearch
Subscribe
Latest Posts
Posts by Category
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.