SaaS and Cloud for AP
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?
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?
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.
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 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?
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.
One of the most critical questions when choosing an enterprise technology provider is “will we be a good match?” This isn’t just in terms of the vendor’s solution, and how its solution integrates with your infrastructure, but also if the two organizations mesh well together. Your decision needs to address a wide variety of factors beyond “can it do what we need it to do?” and “does it offer good value?” You also need to consider factors ranging from cultural fit to where you are size-wise on your vendor’s customer roster.
Big data is already changing the ways companies engage in sales, marketing and operations. And its impact is not expected to stop there. Tradeshift CEO Christian Lanng predicts big data’s next big move is into the fields of finance and procurement, with a massive shift into the world of e-invoicing.
A new report this week indicates that over half (53%) of large enterprises are either already moving Big Data within their organization to the public cloud or are considering a move to the cloud for analytical processing. Further, only 13% of enterprises say they would only use private data centers for processing all analytics. Clearly, there is a concerted push to the shared public cloud.
Cloud computing has become dramatically more prevalent over the past few years, thanks in large part to investments from technology giants like Microsoft, Amazon and Google. However, the cloud industry is still fairly young, and as such there is still some disagreement about what exactly "the cloud" is and should be. Currently, "cloud computing" describes a number of Internet-based services, including software and business process programs, infrastructure application platforms, and various storage and retrieval programs.
A recent survey of 173 corporate travel and expense managers found that they receive more and more bookings via mobile devices. Clearly, business travelers are becoming more comfortable with booking flights and hotels using their mobile devices. To that end, travel and expense management systems from top providers are becoming more vital components in corporate travel managers' toolboxes.
Many business resist storing a large portion of their corporate data in the cloud. They erroneously believe the security risk is high when, in fact, cloud data storage and management is much safer than storing data on an employee laptop that can be stolen or encrypting data on an internal corporate server. If providers of cloud data storage meet certain criteria, the cloud is the safest place to store sensitive business data.
According to a recent Homeland Security Department report, checking in from your home computer leaves big companies vulnerable to hackers, who scan corporate systems looking to find the remote access software that lets employees look at the system while they are not on the job site.
Massive data breaches affecting global companies like Sony, Neiman-Marcus and Target have solidified the unsettling fact that even huge mega companies cannot always prevent compromises in customer and company data.
Cloud technology has revolutionized nearly every industry - from technology to healthcare to hospitality to food service to telecommunications. Small and large businesses, the government and educational institutions depend on cloud-based software applications for many organizational functions. Cloud-based applications enable or enhance activities like more robust data storage, collaborative projects, automated marketing and more streamlined billing.
In a recent comprehensive study conducted by the Independent Expert Group on Expenses, one out of every five charities answering survey questions posed by IEG stated that they "did not have an expense policy established.“ Response comments provided by IEG indicated that the Group considered "expense management part of basic internal controls and good governance" and further stated that "charities need to be encouraged to rectify this matter.”
According to a recent blog post from EPM Channel, these are two characteristics of savvy mobile device users: If you get annoyed when people pass out paper reports instead of displaying electronic versions on their tablet or laptop, that’s one clear indicator. If you prefer using a tablet for business tasks instead of being tethered to your PC, that’s another sign.
For many organizations, mobile employees and a distributed workplace have become attractive and cost-effective alternatives to the traditional office. Advances in cloud technology, high-speed networks and mobile devices have made working from the road — or from home — a serious proposition. And as more companies go virtual, mobile applications are going to be more important than ever.
Today’s business travelers rely on mobile devices for any number of important tasks, from staying connected to the workplace to travel expense management. Despite the sensitive nature of the business information flowing to and from smartphones, tablets and laptops, relatively few organizations have policies that address the potential security issues, according to BusinessTravelNews.com.
By Guest Blogger, Elias Terman, VP of Product Marketing at OneLogin
- How I Did It: Building an Integrated Card and Expense Program
- Is Your Travel Expense Policy Keeping Up With the Times?
- How I Did It: Modernizing Invoice Approval for a Rapidly-Growing Organization
- How I did It: Speeding up Expense Reimbursement with Automated Policy Compliance
- There When You Need It: Leverage Business Intelligence Data with Scheduled 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.