Why You Need Reporting and Analytics in Your Purchase-to-Pay (P2P) Automation
Innovative companies of all sizes and types are turning to Purchase-to-Pay (P2P) automation to enhance efficiency, reduce costs, and increase visibility and control of their spending. Once they decide on P2P as a solution, however, they still have to ascertain which specific tool from which specific provider will best suit their needs.
Expense ReportsBenefits of the Chrome River Thomson Reuters Elite Partnership
Finding just the right solutions and service providers for your firm can be a harrowing task, involving extensive time, effort and willingness to trust unknown providers. Finding just the right customers for the solutions and services your own company offers can be just as time consuming and extensive.
Chrome River5 Ways to Help Spot T&E Expense Fraud
Travel and entertainment is at the top of the list of most company’s expenses, taking second place only to payroll. A J.P. Morgan survey found T&E can account for 10 to 12 percent of a company’s entire budget, making it a prime area to target for potential waste and abuse.
Do Taxpayers Support a Big Chunk of the Airline Industry?
You know the price of an airline ticket includes taxes, but did you also know even Americans who never fly are supporting US carriers through their tax dollars at work? Licensed aircraft dispatcher and USA Today contributor Bill McGee pointed this out in a recent column, making some intriguing points along the way.
Business TravelHow to Survive a Business Trip with Your Boss
Business travel can be stressful enough on its own, and that stress can be compounded if you happen to be on a business trip with your boss. Just because you’re on the road doesn’t mean you can plunge into vacation mode, business etiquette author Barbara Pachter warns; the things you say and do can still go down on your permanent company record.
Automation vs. Excel: Automation Wins Hands Down
Despite major advances in the world of accounting and expense reporting, some companies are still sticking to the traditional Excel spreadsheets – or even still using that archaic duo of pen and paper – to keep track of their finances. GetData research found that 36 percent of small businesses have yet to make the move to an accounting app. Perhaps not coincidentally, 38 percent of businesses admit to making spending mistakes on a monthly basis.
What Makes Travelers Rate their Business Trips as Successful?
Unless you’ve heard an earful of complaints or undying praise from your business travelers, it may be tough to gauge how they really feel about their business trips. Carlson Wagonlit Travel answers that question with a massive survey of 10,000 business folks who travel on a regular basis.
Business TravelP2P Automation: New Opportunities for SMEs
A number of factors have contributed to a positive outlook for small to medium-sized enterprise (SME) growth, both in the US and internationally. A recovering economy, improved credit availability, increasing internet speeds, the affordability of cloud technology and the resulting accessibility of financial process automation have all played a part in creating an exciting new chapter for growing businesses. SMEs are finding new doors open to them in terms of technological advancements that were once considered the exclusive domain of big corporate players.
Are You a Manager Who Ignores Expense Claim Abuse? Don’t Be!
“Fraud” is such an ugly word, which is exactly the reason some managers are wont to ignore it when it crops up in travel expense reports. They may instead refer to the practice as “stretching the truth,” or “padding the expense accounts” and ignore it altogether. They may be hesitant to call attention to the practice when it’s ingrained in company culture and those engaging in it are well-liked colleagues or friends.
FraudTips on How to be a Sophisticated Female Traveler
Traveling across the globe can be a thrill – even when it’s done for business. But it can also be challenging, particularly for the 40 percent of women who make up the global corporate traveler sector. USA Today outlines a handful of tips designed to help the sophisticated woman traveler conquer those challenges.
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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.