Do You Know Which Airline has the Most On-Time Flights?
On a recent US Airways flight, we pulled into the gate later than our expected arrival time. The flight attendant, no doubt in an effort to sound considerate, asked everyone on the plane to please let those passengers trying to make connecting flights disembark first. I thought, ‘What a ridiculous request! Though I’d be more than happy to oblige, how will the rest of the passengers—all of whom will be jumping out of their seats as soon as we come to a stop—know exactly who among us meets that requirement? Would it be the people who look exhausted, flushed, nauseated or annoyed? That would include everyone!’
Business Travel, Expense Management, Expense ReportsHow to Take the Headache Out of Invoice Management
In a perfect world, your organization’s invoice management would be the last thing you’d need to worry about. It would be a secure, transparent and paperless operation, with accounts payable managing the process and approvers easily validating payments. However, with many vendors and suppliers still using paper invoices, the reality is that companies often fall back on inefficient and expensive manual processing.
Invoice ManagementTravel Expenses: Are Your Employees Writing Off Too Much?
While at a conference in San Antonio, you decide to go on a sponsored side trip with other attendees: a scenic helicopter ride over the city and the surrounding Texas Hill Country. You can probably deduct the flight as a business expense, but don’t forget to keep those convention brochures that describe it as a networking experience in case you need to prove it. As with most aspects of travel expense management, it’s important to provide documentation and be clear on company guidelines.
Expense ManagementBusiness Travel Is on the Rise – Are You Prepared?
As the U.S. economy continues to recover, organizations that previously cut travel to the bone are starting to look beyond revenue-generating trips, sending employees to conventions and other networking and development activities. As business travel and other travel and entertainment (T&E) spending increase, so does the value and importance of efficient, cost-effective travel expense management.
Expense ManagementDo You Want to Get the Best Price?
When your employees travel for business or entertain clients, are you getting the best prices for flights and rental cars, hotels and entertainment? It can be hard to say. After all, if you can’t see at a glance what your company spends on travel and entertainment (T&E) and drill down to important data, how do you really know? But if you use expense management software with end-to-end automation, your company will be in a much better position to negotiate volume discounts with vendors.
Expense ManagementWhat Insights Can Expense Management Analytics Uncover For You?
Whether in business, sports or warfare, we tend to admire leaders who make good decisions seemingly based on intuition and instincts. In today’s complex business world, however, gaining a competitive edge also requires calculated evaluation. Expense management analytics provide powerful tools that can help leaders make better decisions — decisions that combine quantitative and intuitive insights.
Expense Analytics and ReportingWhy Numbers Don’t Tell the Whole Story In Analytics
We’ve all heard the cliché “numbers don’t lie.” But numbers alone also tell few truths (unless you’re a mathematician). To make good decisions based on data, managers and executives need more than numbers. Analytics and accounting reporting software can help you create meaningful, actionable reports from raw data.
Expense Analytics and ReportingChrome River Currents Monthly Digest—04.28.2013
Welcome to the Chrome River Currents monthly digest! Each month we highlight the latest news and analysis on business travel, expense management and online expense reporting. This time, we’re focusing on the benefits of automating business expense reports. We’ll show you how new cloud-based tracking, analytics and reporting tools can help your company simplify travel reimbursement, negotiate discounts and other cost savings, and identify possible fraud.
Expense Management, FraudEnforcing Travel & Expense Policies to Maximize Savings [Guest Post] - Henry Ijams
![Enforcing Travel & Expense Policies to Maximize Savings [Guest Post] - Henry Ijams](https://chromeriver.imgix.net/blog/travel-expense-automated-management-chrome-river.jpg?mtime=1473147560)
Contributing Author – Henry Ijams, Managing Director, PayStream Advisors, Inc.
Expense Management3 Keys to Solving Common Invoice Headaches
An invoice from a vendor arrives in the day’s mail and sets off a complex process. First, the invoice envelope must be sorted and opened, the return envelopes and ads tucked inside discarded. From there, your company may scan the invoice or key in data and begin validating individual items. By the time the document reaches an approver for payment verification, it’s no mystery why processing paper invoices is often expensive, inaccurate and inefficient.
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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.