In business travel, most expenses are fairly routine matters and handled by the book. Airfare, hotel, rental car, taxi rides and meals. However, what about when an employee expenses, say, a goat? Unquestionably, these animals have been allies to humans for millennia, but it’s hard to envision a goat’s role in the context of, say, an onsite software installation.Expense Reports, Fraud
There are very few people who like to hassle with filling out expense reports and dealing with expense management teams. While more and more businesses are moving toward automated travel expense reporting, some companies are still out of touch with the times. If you’re looking for ways to convince your boss to automate expenses, look no further.Expense Management
For casual travelers, the way airlines set fare prices can seem either arbitrary or a conspiracy that combines magic and higher mathematics. But fare prices do follow predictable trends, at least for corporate travel managers. This year, increased demand is expected to drive up airfares for business travelers.Business Travel, Expense Reports
One of your employees pads his mileage on reimbursement forms. Another conveniently loses a receipt for a less-expensive meal so she can claim the $25 maximum reimbursement. For most companies, this kind of petty theft is no big deal. If the amounts lost are small, it might seem easier to ignore the problem than to investigate, but expense report fraud can have large indirect consequences.Fraud
You may assume that expense management teams are supported by financial departments, but it might surprise you to know that many expense management teams are partially supported by various Human Resources personnel. After all, expense management teams are an integral part of the payroll department. (In some cases, the payroll department is actually known as the Expense Management Team.) This means that the expense management team needs to have more than just a working knowledge of different financial avenues. The team also needs to know how to deal with employees in a way that won’t seem threatening or offensive.Expense Management
All the talk of fiscal austerity and budget cutbacks makes one believe that the only way to reduce costs is through reductions in staffing and labor. There’s no doubt that labor is taking the brunt of the pain in today’s current economic environment. But creative companies are applying big data analytics to their spend management processes to uncover hidden costs where simple changes can yield substantial savings.Expense Management
Recently, I was reading BTN Group's 29th annual roundup of "The 25 Most Influential Business Travel Executives of 2012", which recognizes the executives who are shaping the future of the business travel industry. Call them "movers and shakers" or "power players" or "dealmakers"—these are the folks who are driving change, and their list of accomplishments is impressive indeed.Business Travel, Expense Management
No matter how pervasive conference calls and web meetings have become, sometimes there’s just no substitute for being there in person. But before you fasten your seat belts, business travelers, don’t forget that every dollar spent will be scrutinized by management, clients, et al. So, how do you ensure you’re getting the best bang for your business-travel buck without sacrificing the high level of service you need while traveling and working? Your best bet is to check with the experts: your fellow business travelers. You know you can rely on your peers because their war stories are just like yours. Do any of these sound familiar? You can probably add quite a few of your own!Business Travel, Expense Management
For many business travelers, a typical business meal consists of an artery-clogging burger and fries at convenient airport pubs, or unappealing, dry and tasteless sandwiches available from refrigerated carts in gate corridors. We’ve found a few smartphone apps that can help you track down healthier, more preferable choices and breathe new life into your travel meal rituals.Business Travel
If you’re not actively involved in the operation of your payroll department, you might be under the impression that it really isn’t that complicated. However, if you were to do a little digging, you’d discover the secrets of your payroll department run deeper than you might imagine.Accounts Payable
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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.