World-renowned Italian artist Franco Innocenti lives in what remains of a 10th century castle tower and paints the world as he sees it. His paintings reveal a reality different from the one to which we are accustomed, as Franco removes objects from their natural environments and places them in completely unusual surroundings, creating absurd combinations that reveal paradoxical aspects of the world around us.Expense Management, Expense Reports, Invoice Management
In any business there are specific questions that should be part of every continuous improvement plan:Accounts Payable, Expense Management, Expense Reports, Invoice Management
The breaking news that the Labour Member of Parliament for Rotherham, Denis MacShane, is facing a 12-month suspension from the House of Commons for submitting false invoices that were “plainly intended to deceive” highlights the constant diligence required of organisations to monitor and control their expenses and incoming invoices.
This was also the subject of a September survey that found nearly one-third of 1,000 UK employees who took taxis for work admitted that they routinely cheated on such expense claims. The people polled indicated that they added to the taxi bill or expensed fares that were not business related.
"Taxi Receipt" Photo. Ebay.co.uk 10 Jun. 2012. 06 Nov. 2012
Few would argue with the truism “Numbers don’t lie,” but inaccurate numbers can and do lie all the time. A good example is the vast number of inaccurate numbers that can enter an organization’s financial system via expense reports. Organizations that allow employees to write or type expenses into a form that is manually reviewed and re-entered into the accounting system by a staff member have introduced several opportunities to enter inaccurate information for each transaction.Accounts Payable, Business Travel, Expense Management, Expense Reports, Invoice Management
The quality of your expense reporting speaks to the type of worker you are. Do evaluations reflect frugal or flighty spending, careful or careless tracking, a dinged or distinguished history? Too many tallies in the wrong category can echo negative opinions about professionalism and work ethic. When it’s read in black and white, what do expense reports say about you?Business Travel, Expense Management, Expense Reports, Fraud
In this third and final part of our three-part series, we will conclude our discussion on accounts payable best practices fueled by the excellent article "9 Best Practices for Automating Your AP Department" written by David Schmidt and Katie McMurry for the third-quarter printing of Financial Operations Matters. It provides an excellent roadmap for automation that is both commonsensical and actionable.Accounts Payable, Expense Management, Invoice Management
To my mind, it seems absurd that one organization selling products or services to another submits a printed paper invoice via their billing system and an employee at the purchasing company manually enters the same invoice into their accounts payable system. Not only is this an inefficient and expensive exercise, but it is totally eco-unfriendly!Invoice Management
For many business travelers, airline travel is the fastest way to get from Point A to Point B, unless a flight delay upsets a perfectly crafted schedule, leaving unplanned downtime in place of progress. Use the interruption to your itinerary to get a head start on pre- or post-travel agendas by putting these efficient business-travel tips into practice.Business Travel, Expense Reports
In this second part of a three-part series, we will resume our discussion of Accounts Payable Best Practices (Part 1) fueled by an excellent article entitled "9 Best Practices for Automating Your AP Department," written by David Schmidt and Katie McMurry. Their work appeared in the Third Quarter printing of Financial Operations Matters and provides an excellent road map for automation that is both commonsensical and actionable.Accounts Payable, Expense Management, Expense Reports, Invoice Management
Although it is often essential to the success of a business, employee travel can be very expensive. Whether professionals are traveling through the United States or to destinations overseas, they will inevitably incur costs for meals, hotels and transportation. Through expense management and by limiting these costs as much as possible, businesses can save more money for other travel activities, like impressing potential clients.Business Travel, Expense Management
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.