Travel budget growth is stalling and increasing numbers of organizations are cutting their travel budgets. As potential economic clouds are gathering, how can organizations avoid hampering their own growth by slashing team travel?
It was recently revealed that a sophisticated invoice fraud scheme extracted more than $100 million from two of the world's largest companies. What steps can AP teams take to avoid their own organization falling victim to scams like these?
We're delighted to announce our latest integration partner, Grab. As the biggest rideshare company in Southeast Asia, Grab serves customers in 320 cities across eight countries.
By integrating your PO data, you can match your invoices in your AP automation system to your ERP’s PO data – and more importantly, systematically identify when (and what) line item data does not match. Learn how this can be done and how it can be used to drive compliance in the AP process.
CASCADE, our renowned customer conference, is now open for registration. See where this year's conference will be held, what to look forward to, and how to register.
Optical character recognition has gone mainstream for document management. But are all OCR solutions created equally? Actually, no. Learn what you need to know in order to maximize the benefit of your OCR investment for invoice automation.
Manually attaching receipts to spreadsheets is a real drudge for business travelers. However, their frustrations pale in comparison to those of the finance team, who have to navigate cumbersome approval workflows, enforce confusing T&E policies, and spend hours manually entering data into their accounting system.
Most employees are inherently honest. They realize that the risk of imperiling their career over a couple of hundred more dollars in their pocket isn’t worth it. However, a small section of employees don’t agree. What are the most common ways they try and defraud their employers, and how can they be prevented?
Whether you work for a for-profit business, a Crown corporation, or a non-profit organization, managing employee expenses are a part of life. Canadian organizations face a number of unique issues in expense reporting, so how can they ensure best practice for both employers and employees?
Worried that you may have missed out on some of our blog posts? Fear not - we've compiled a list of the 10 most-read blog posts in 2018. See what your peers thought were the most pressing topics of the year.
Chrome River has just closed an incredibly successful 2018. In this blog, CEO and Co-founder, Alan Rich, looks back over some of the more notable moments of the year.
At Chrome River, we are interested in what’s next for the expense automation industry. To find out where our customers see the world of corporate expense management going, we asked them what their number one prediction is for expense management in 2019.
Cleveland, Ohio-based Dealer Tire manages replacement tire and parts programs for more than 20 automotive OEMs in the U.S. and China. In this guest blog post, Mary Hayat, Dealer Tire’s director of accounting, explains how the company lets business flow by building an integrated card and expense program.
Your organization’s travel and expense policy must ensure that it stays updated, to support the requirements of both the employer and also those who need to submit expense reports. With services such as Uber/Lyft and Airbnb now in the mainstream, is your policy keeping up?
The University of Pennsylvania Health System is a diverse research and clinical care organization that includes four hospitals, two regional medical centers and a multitude of clinical care providers. In this guest blog post, Steve Kelly, UPHS’ director of disbursements, outlines how the organization lets business flow by delivering a mobile, highly-automated integrated expense and invoice automation solution.
Idaho State University (ISU) is a public research university in Pocatello, Idaho. Founded in 1901 as the Academy of Idaho, ISU now has 14,000 undergraduate and graduate students and more than 2,000 faculty and staff. In this guest blog post, Lisa Leyshon, assistant controller at ISU, explains how the university let business flow by automating expense policy compliance and speeding up the approval process, getting reimbursements back in travelers’ accounts much more quickly.
Effective business analysis improves the decision-making process by allowing finance staff to track, process, and analyze data and - perhaps most importantly - transform it into actionable insights that drive strategy. Chrome River customers leverage our deep analytics capabilities so they can control spend by transforming expense spend data into insightful reports.
New research shows that expense automation technology is firmly in the mainstream, and the majority of organizations that have made the switch have adopted dedicated cloud-based expense automation software. If your organization hasn't yet made the leap, what are the main benefits that you are missing out on?
Latham & Watkins was founded in 1934 and is one of the world’s largest and most prestigious law firms. It has annual revenues of more than $3 billion, and has 2,500 attorneys. In this guest post, Neil Ackley, Latham & Watkins’ director of global accounting explains how he let business flow for the firm by upgrading its expense management solution to Chrome River.
Change is a constant in the business world. New business units. International growth. Acquisitions. For an organization's software solutions to keep up, it needs to be flexible and robust enough to adapt as a company evolves. When choosing an expense management solution, how can organizations ensure that it will be able to adapt to the changing tides?
We’re proud to support our 800+ customers in their goal of controlling employee expense costs and streamlining invoice and expense approvals. However, we’re particularly excited that an ever-growing number of global technology leaders have chosen Chrome River as their expense management technology provider. Here are seven of the reasons they trust Chrome River.
Navigating change is critical to the successful adoption of a new software solution. However many organizations stumble as they attempt to reap the benefits of a new solution because they get stuck during the changeover to a new offering. Here's how Chrome River enables our customers to avoid this.
One of the biggest benefits that an expense management solution can deliver is automated enforcement of an organization's expense policy and approval processes. However, not all expense solutions have the capability or flexibility to support the requirements of complex global organizations.
Nixon Peabody, LLP is a Global 100 law firm with more than 700 attorneys across the U.S., Europe and Asia. In this guest post, Karen Keegan, Nixon Peabody’s assistant controller, discusses how to the firm let business flow by effectively managing technology change.
We're honored to have been listed as one of the 25 Best Places to Work in LA. Find out why, and see how you could be part of our rapidly-growing global team.
Chrome River announces the launch of Autobot - an intelligent automation solution which enables organizations to create custom workflows that streamline repetitive manual tasks.
Schiff Hardin LLP is a national general practice law firm serving corporate clients, with more than 300 attorneys practicing out of six offices across the U.S. In this guest post, Melody Ragan, Controller/Financial Manager at Schiff Hardin discusses how the firm lets business flow by leveraging Chrome River’s business rules engine to streamline expense submission and approval.
Spokane, Washington-based liberal arts college, Whitworth University, chose Chrome River to streamline expense management for its traveling faculty and staff. Carolina León, Business Analyst, Finance and Administration at Whitworth University explains how the university lets business flow with a smooth implementation and an agile approach to providing the best solution for its team.
Check out Chrome River's upcoming webinars for the month of July. Learn practical steps that you can take to remove a variety of risks from your invoice and AP processes.
We unveil the winners of our Let Business Flow t-shirt contest...
What are the innovations that global organizations can expect to see in expense management technology in the coming months and years? Learn from experts at analyst firm IDC and Chrome River what to look out for.
The World Cup is now upon us, with players, journalists and fans converging on Russia from around the world. With countless number of flights, hotels and meals to account for, how could all of these be managed through expenses? Tim Wheatcroft daydreams about how he'd manage the logistics on such a scale.
Check out Chrome River's upcoming webinars for the month of June. We have lots of topics lined up to keep you up-to-speed on the latest trends, innovations and best practices in the world of invoice and expense management.
Chrome River is excited to announce a new relationship with Yatra, India's leading online business travel company. What does this mean for Chrome River, and Indian business travelers?
Tired of having to enter line after line of expense items for a simple overnight hotel stay? You're not alone... and you need not suffer any further, says Karen DeLucia.
Rapid invoice approval is critical for effective cash flow and to maintain effective visibility into the accounts payable process. The kind of technology you use to access this data could play a major factor in your company's ability to deliver this insight.
April 27, 2018 marks the 10th anniversary of Chrome River EXPENSE going live. Alan Rich, Chrome River's CEO and co-founder, looks back at the past decade and how far the company has come.
Every company has unique requirements for its expense management solution, be it industry-specific regulations that need to be followed or complex business rules for approval routing. However, few organizations have as specific and complex needs for their expense management system as those with a significant global presence.
There are countless nuances of international business regulations that organizations need to follow. In particular, how can companies ensure that they stay compliant with global statutory requirements for expense reimbursement?
Chrome River and SpotHero have teamed up offer an even easier way for business travelers to find, purchase, and expense parking spaces.
For the team members that are at the core of driving revenue--sales reps, those managing suppliers, key partners, or account managers--frequent travel is imperative to their role and their company’s success. To keep these employees both happy and healthy, it’s critical that employers take steps to look after their team-members’ well-being while on the road. How can companies support this without breaking the bank?
There are two approaches to deploying business apps to employees: native apps and web apps. For both approaches, the end-user experience is – at least at first glance – outwardly very similar. However, that’s where the similarity ends, and the inherent weaknesses of native apps soon become apparent.
Product capabilities and functionality are almost top of any company’s list of priorities when assessing software solutions. However, any organization that’s looking to deploy a software solution across the enterprise needs to understand that the relationship with the solution provider can be just as critical for long-term success as the product itself.
We’re delighted to have been listed by respected technology analyst firm IDC as a “Leader” in its Travel and Expense MarketScape, validating our position in the global expense management industry.
One of the largest groups that travels on business is the trucking and transportation industry. With all of the stressors placed on long-haul drivers, what can fleet operators do to make the expense submission and reimbursement process as smooth as possible?
We're seeing a paradigm shift in the world of expense management, from a focus on control and compliance to spend optimization. CEO Alan Rich discusses where T&E spend analysis is heading.
GDPR is on its way. But what does it mean and how does it impact the relationship that companies like Chrome River have with their European customers?
Chrome River's CEO, Alan Rich, starts the year by looking at some of the macro trends which will impact the world of expense management not just in 2018, but for years to come.
Expenses such as holiday gifts for customers can help provide valuable data for measuring sales, but only if companies have the tools to analyze it. How can organizations make better use of this - and other sales team travel and expense data - to better plan for the future?
How can organizations avoid being bamboozled by false information in the marketplace? It's critical to ensure that you get input from all sides and don't make inaccurate assumptions.
How can organizations ensure that their software investments bear fruit for years into the future? They need to be sure that as they evolve and grow with the market and the economy, the software solutions that are used to support them can accommodate these changes.
A company that provides its employees with manual or cumbersome expense reporting solutions may be hurting itself in many ways. One which is often overlooked is that employees who procrastinate over submitting their expenses could jeopardize the accuracy of the quarter-close, which could have serious ramifications.
The sales team is typically the division within an organization that has the greatest travel and entertainment expense budgets. They travel the most and spend the most on entertainment for prospects, suppliers or current customers. However, and perhaps most importantly, the sales team also is the greatest contributor to top-line revenue. How can companies ensure that best performers remain engaged and drive revenue, while effectively controlling costs?
One of the benefits that many ERP vendors claim is that they offer a broad range of modules in addition to the core functionality of the solution. However, how do these modules stand up to best-of-breed solutions?
Of all the innovations that have made receipt submission a painless part of expense management, the ability to capture receipt images on a mobile phone and upload them directly into the expense solution is one of the greatest. But how do different OCR offerings add up?
Today we’re delighted to unveil the newest edition of our invoice management software, Chrome River INVOICE. The latest version of Chrome River INVOICE will make it even easier for approvers and accounts payable teams to track and approve invoices, whether they are at their desk or away from the office.
Chrome River adds to its global expense management capabilities with yet more languages, so even more of our users in over 115 countries worldwide can now submit their expenses in their native language.
As essential end-user features are in the selection of an expense management solution, any front-end benefits are meaningless if the solution doesn’t easily integrate into your tech stack, introduces security vulnerabilities for your network and your users’ data, or simply isn’t available when you need it to be.
Corporate travel expense policies are created for a reason: to provide clear guidelines for travelers, which saves the organization money by minimizing excessive or wasteful spend. As with all regulations, these policies are only effective if they’re adhered to. To achieve this, organizations need to make it easy for them to be followed and hard for them to be sidestepped.
The end of the traditional corporate card era is looming. The way that organizations source, pay for, and reimburse business travel has changed more in the past five years than the previous several decades combined.
Companies know how much their employees spend on hotels, flights and meals. While this information may help the travel manager, it doesn't help finance or sales leaders to measure how T&E spend impacts revenue generation.
Any investment that a company makes in a new product or solution can only deliver its intended benefits if it's used - and embraced - across the organization. While reluctant employees can avoid having to use some software solutions, when it comes to tools such as expense reporting, there isn’t really an option to sidestep it. However, this doesn’t mean that an optimal user experience needs to be an afterthought in the software review process.
Hospitals typically receive a quarter of their invoices outside the PO system - often from smaller, local vendors. Processing these invoices manually can take thousands of hours and cost tens or hundreds of thousands of dollars each year. What can hospitals do to streamline these processes and reduce administrative costs.
How often does your organization's expense policy get updated, and how does it address innovations in travel and travel technology? In order to keep your employees satisfied, you should ensure that your policy stays abreast of emerging travel trends.
The construction industry is more exposed to economic ebbs and flows than almost any other sector of the economy. As a result of this position, construction companies must ensure that they carefully maintain cash flow and cost control, even during boom periods. How can employee expense automation solutions help this?
Expense report software solutions can create huge volumes of data on employees' business travel spend. How can organizations use this to make smarter decisions?
While there's no denying that automating end-user processes and enabling hassle-free mobile submission of expense reports provides major ease-of-use and time-saving benefits for business travelers, the ROI that these benefits deliver is often dwarfed by the impact that expense automation has on the finance function.
It’s a little over 10 years since the iPhone was launched. Many things have changed in the business travel world since then, but few have had as much of an impact on travelers' productivity as the ubiquitous mobile phone.
Chrome River and Lyft are making it even easier for business travelers to create expense reports.
Creating and Enforcing Expense Policies: The Happy Medium for Cost Control and Employee Satisfaction
Corporate travel and expense policies have long been a hot-button issue for HR departments. On one side are traveling employees, who want to be able to choose the airlines and hotel chains where they have high status, or select flights and lodgings that are more convenient for them. On the other side are CFOs and corporate controllers, whose primary focus is to manage costs and minimize unnecessary spend. While these may seem like two groups that will never find common ground, a combination of reasonable policies, intelligent enforcement, and smart technology tools can keep all parties happy.
Every organization’s finance team knows that controlling supplier costs is critical. However, one area that many organizations have yet to address is the actual cost of the invoice management and processing function.
Forty-six percent of respondents to a recent survey said they still submit their expenses manually - stuffing their pockets, wallets and briefcases with wrinkled receipts. These bunched up pieces of paper then get stapled to printed spreadsheets that must be typed up, listing every detail of every item, and then mailed to accounting departments. In an era where the majority of business functions have been automated, expenses are one of the few areas that still involve an excessive amount of manual processing.
Any opportunity for manufacturers to lower manufacturers' operating expenses is welcomed by the CFO, whether this is hedging against commodity price increases and exchange rate fluctuations, or identifying opportunities for cost reductions within the supply chain. But what about reducing the cost of back-office processes?
It’s estimated that expense fraud committed by employees adds up to nearly $3 billion per year across North America. How can HR teams prevent this from happening at their organization?
If your CFO or controller asked you to provide the organization’s total travel spend over the past year, how would you get that data? The obvious (and traditional) answer is to ask for reports from your travel agency, breaking down hotel, flight and rental car costs. That should give you a pretty accurate figure, right? Well – not really.
For mid-size and large companies, best-of-breed travel and expense or all-in-on isn’t the only decision to be made when it comes to expense software. Many ERP providers also offer expense management capabilities as part of their broader suite of financial and HR tools. How do you decide which works best for you?
Gartner has just released its 2017 Market Guide for Travel Expense Management (TEM) Software. The guide is essential reading for any organization that’s thinking of investing in an expense management solution in the coming year, or is considering upgrading its existing solution.
Expense management systems must provide several receipt submission formats, to match the different types of receipt format in use, as well as users’ own preferences. What types of receipt submission should your expense solution be able to support, to cater to the full spectrum of your organization’s users and their travel profiles?
Corporate road warriors often complain about filing their expense reports, be they on spreadsheets or using their employer’s clunky, antiquated solution. The process can be time-consuming, making it easy to put off, which leads to delays in reimbursement. Finance teams also tire of having to manually process and code hundreds or even thousands of expense reports each month. If this sounds like your organization, maybe it’s time to start looking for a new solution.
As a result of new U.S. and UK legislation, some business travelers may choose to leave their laptops at home. What would happen, though, if you also accidentally left your wallet at home? Could you survive life on the road paying for everything with a mobile phone?
Any expense management solution worth its salt these days will tout its mobile capabilities. Most of these solutions will highlight their iPhone or Android apps as a key selling point. However, for the both hard-pressed business traveler and the company for whom they work, apps aren’t always the best solution.
Business travel is a topic that can engender huge differences in opinion among those whose jobs require them to spend time on the road. For some, it’s viewed as a perk, for others, a burden. Regardless of whether your employees love or loathe life on the road, it's essential to optimize the traveler experience.
Combining expense reimbursement with the payroll slows your process to a crawl, making your employees wait weeks for payment. Decouple the two and see how much happier you make employees AND finance.
With countless different line items such as food, parking and high-speed internet, hotel folios can be a pain to enter into expense reports - especially when your expense management provider doesn't take info from a certain hotel chain. Chrome River FOLIO solves this challenge with a single click.
Organizations who are looking for a full-featured, enterprise-grade expense management solution often find that the choice comes down to Chrome River and Concur. Once the shortlist has been created, how can finance, IT and procurement teams work out which solution works best for their team?
Your road warriors are complaining about your expense system having a clunky old interface that looks more like Frogger than Facebook. Your system administrators say that the level of customer service could put Basil Fawlty to shame. Your AP team tells you that the vendors’ invoices have more unexpected charges than a hospital bill. It’s time. Time to start looking for a new expense management system.
Now that the dust has settled on 2016 and we’re full speed ahead in 2017, Chrome River's CEO and co-founder, Alan Rich, looks back over the company's many achievements over the past year.
There has been a lot of discussion in the business software market about the benefits of browser-based, responsive web (RWD) apps versus native Android and iOS apps. Even though there is evidence showing that more and more organizations are moving toward RWD for mobile software deployment, the debate continues as to which is better, just like Mac vs. Windows, Peyton vs. Tom and Pepsi vs. Coke.
Corporate card programs may make corporate spend better managed and even easier for the card holder, but they still leave a number of hassles for both cardholders and administrators when it comes to expense reports.
Unlike commercial organizations, whose expenses are funded by operating budgets, higher education institutions’ faculty and research members’ travel and expenses are often funded by grants and scholarships. These funding sources often have a variety of different requirements for how they can be used, and therefore require specific reporting regulations for expenses.
The worst thing about most New Year's resolutions is that they're so easy to break. To make your expense management easier in 2017, here's a list of things that you should not do, along some a couple of one-and-done fixes that will benefit you throughout the year.
Interest in back-office technology continues to increase as a way to control costs and increase productivity. What are the latest trends in the industry, and what benefits could it bring to the way your AP team processes invoices?
While a streamlined expense management system can make life easier for your business travelers and travel managers, it can also do amazing things for your finance and accounting departments. Not every expense management system will have the power to perk up accounting and finance, however. You need a platform that can integrate into the finance and accounting systems your departments already know and use.
Expense fraud can happen at even the best-run organizations, but your company can definitely arm itself with the tools and processes to rein it in.
We're thrilled to learn that Cindy Heston, director of travel and events at Chrome River customer, Anthem, has been honored as a 2016 inductee into the Business Travel Hall of Fame.
When selecting travel booking and expense solutions, organisations have two choices: a single vendor for both elements, or individual vendors for each. All parties will say that their solution works best, but which will work most effectively for you? Here are five questions you should ask yourself.
Creating an effective expense policy is a balancing act. You need to walk the fine line between eliminating unnecessary costs and establishing a policy that is reasonable and workable for employees and managers alike. Create a policy that’s too lax and you’ll watch travel costs skyrocket. Create one that’s too stringent and you’ll end up with impractical restrictions, unhappy business travelers, and an increased risk of expense fraud.
Businesses lose an estimated $2.8 billion per to expense fraud in the U.S. alone. How does this happen, and what can be done to prevent it?
As with all good business tools, an expense management system should make everyone’s job a lot easier. However, you need to ensure that you select a solution that works for your organization's requirements.
With expenses that can range from a handful of photocopies to overseas travel, grant and research project budgets can be tough to track. Paper-based expense management systems are a headache for both your researchers and administrators. And one-size-fits-all expense software doesn’t have the specific capabilities your university needs to accurately manage the myriad of grant and research nuances.
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.