It is difficult to determine a business budget without first looking at the spending trends that help to create it. Being aware of business travel expenses is imperative to trip planning, and careful tracking is an infallible method of keeping those travel budgets on the right course. A little tracking can go a long way! After all, travel and expenses makes up about 10% of your operating budget.Business Travel, Expense Reports
For followers of my keynote speech at Chrome River’s 2011 Customer Seminar, I continue to find interesting cases of expense fraud. The UK Parliament scandal was widespread, but the amounts were small. Here is a fascinating case within the US government. What makes this so interesting is that it apparently involved collusion between the expense approver and the person submitting the expenses.Fraud
Two weeks ago, Chrome River announced a new strategic partnership with BMO Spend & Payment Solutions that allows us to offer their Corporate MasterCard, Travel Account Card, P-Card and One Card solutions to our clients. This reminded me of the facts that employing a corporate card program and then integrating it into your expense management software are both excellent expense-management practices.Expense Management
Are your employees cheating on their corporate travel expense reports? About 80% claim that they are generally honest with their travel expense reports but some admit to skimming a little of company funds for various reasons. Your employees represent your company on the road. And, their occasional unethical practices should be minimized, if not eliminated.Expense Management, Expense Reports, Fraud
I had the opportunity to deliver a best-practices webinar with Information Builders, a leading provider of Internet-based business intelligence and reporting solutions. They also provide the technology behind Chrome River ANALYTICS, the management reporting module within the Chrome River expense management software suite.Expense Management, Expense Reports
Welcome to the Chrome River CURRENTS blog. I wanted this initial post to announce that we were the first technology company with a blog, but I understand that there are actually already a few others. OK, so clearly not the first, but it’s the first blog from *us* and we are excited that you are here.Expense Management, Invoice Management
- Driving AP Success With Automation Part 3: How to Save Time and Money While Increasing Compliance
- Driving AP Success With Automation Part 2: How to Create More Efficient Processes With AP Automation
- VAT IT Partners With Emburse to Help Companies Save 27% on Expenses
- Driving Success With Automation Part 1: 4 Common AP Management Bottlenecks
- The Future of Finance: 5 Predictions For Digital Transformation in 2022 And Beyond
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.