By Guest Blogger, Elias Terman, VP of Product Marketing at OneLoginExpense Management, SaaS and Cloud for AP
Recently I had the good fortune to stumble across an excellent article entitled "9 Best Practices for Automating Your AP Department" in the third-quarter printing of Financial Operations Matters. This little gem was written by David Schmidt and Katie McMurry and offers a viewpoint on AP Automation that is very much aligned with my own personal opinions on this topic.Expense Management, Expense Reports, Invoice Management
Spreadsheet expense reporting can be overwhelming, stressful and downright confusing for everyone involved. With so many people playing a role in the reporting and accounting process, some expenses may be recorded twice, while others may never be documented at all. Fortunately, you can break the usual spreadsheet cycle with a single tool: the online expense reporting program.Expense Management, Expense Reports
End-of-year expense reports are extremely important for any business. Using the information on your report, you can complete your tax return, analyze your profits, and plan for the following year. However, too many business owners wait until the last minute to start compiling information for this essential document. Below are 10 tips you can use to get a head start and ensure that you don't miss anything important.Expense Reports
International business travel is accompanied by a slew of challenges for both travelers and financial managers. Language barriers, jet leg and jam-packed itineraries only scratch the surface for this breed of travel. Luckily, there are corporate travel tips all over the Internet to help guide international jetsetters. Here are a few things you'll want to know before you go.Business Travel
Studies have shown that employees who cheat on their expense reports may also be defrauding their employers on a grander scale—yet another reason to use a product like Chrome River AUDIT to monitor expenses. A recent blog post by H&S Companies explains the four types of expense-reimbursement fraud and offers a handy list of behavioral red flags to watch for when reviewing expenses.Expense Management
There are plenty of hurdles for firm owners to jump while running a competitive law practice without tripping over excessive operational costs. It’s a fast-paced industry that requires resourcefulness and refined spending habits. Simplify saving with these tried-and-true tips that help keep budgets on track and goals within reach.Expense Reports
Since Chrome River is a financial software application at its core, it pays for us to stay on top of the latest developments in the accounting world. One entertaining blog that I can recommend is Grumpy Old Accountants. Recently they had an interesting post on the definition of Net Income and how it is changing. Since all of us are affected by accounting events that are somewhat out of our control (e.g., exchange-rate movements), this article makes some interesting points on how accounting standards allow you to present profits with and without these factors included. And since you are probably charged with developing and implementing expense report policies that help your employees with Net Income, please read point #2 in our whitepaper, The 10 Essential Expense Management Best Practices.Expense Management
A finger tap is all that’s needed to take advantage of these top business travel tips. Plan, organize, track and process information anywhere, anytime. And with these savvy smart phone apps, you'll look cool, calm and collected while doing it.Business Travel, Expense Reports
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
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.