If you are a global organization looking to upgrade your expense management software, there is a dizzying array of offerings on the market. Many of the vendors you speak to will tell you that they offer a global solution. However, there’s being able to process the occasional foreign hotel and restaurant bill, and then there’s a true global solution that will work for thousands of end users across dozens of different countries, supporting complex workflows, tax requirements and regional standards.
If you’re wondering how to sort the leaders from the also-rans, here are some key considerations when looking at expense management vendors.
1. System set-up and configuration
- How long does it take to implement? You need your expense management solution to be rolled out quickly and efficiently, not just in the U.S., but in all markets.
- Does it have the flexibility and configurability for your complex expense processes?
2. International currency and taxation support
- How many currencies can it handle – not just for submitting receipts, but for complex multi-currency reimbursements?
- How does it handle international tax and compliance? If you submit and reimburse expenses across the globe, you need to comply with local tax requirements. Is this capability automatic?
3. End-user considerations
- How does the mobile solution differ from the native version? Will you need to get users to download apps – and then ensure that you train them, or can you get the same user experience regardless of what device you use to access it?
- What languages is it available in? How does this map to your user base?
4. Operational considerations
- Can new users quickly get brought up to speed with online tutorials and overviews from administrators, or do you need to bring the vendor in for formal training sessions?
- How does support work internationally? Does support speak your administrators' language(s)?
- How effective are the reporting capabilities? Is the reporting system flexible enough and robust enough to deliver the granular international reporting that your management team needs?
5. Cost and value
The final thing you need to see is the price tag. Being able to offer all (or even some) of these is helpful, but if it comes at a cost that blows you away, it’s certainly not going to work for you.
If you’d like more information on selecting a global expense management solution, check out our new guide, “Ten Questions to Ask When Choosing a Global Expense Management Solution.”
To learn more about how Chrome River can help in delivering a world class, global expense solution, schedule a demo today.
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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.