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?
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.
Corporate travel expense policies are created for a reason: to provide clear guidelines for travellers, which saves the organisation money by minimising excessive or wasteful spend. As with all regulations, these policies are only effective if they’re adhered to. To achieve this, organisations 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 organisations source, pay for, and reimburse business travel has changed more in the past five years than the previous several decades combined.
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 organisation. 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.
How often does your organisation'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?
While there's no denying that automating end-user processes and enabling hassle-free mobile submission of expense claims 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.
Chrome River and Lyft are making it even easier for business travellers to create expense claims.
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 travelling 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 minimise 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.
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 organisation?
If your CFO or controller asked you to provide the organisation’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 organisation 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 organisation’s users and their travel profiles?
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 traveller and the company for whom they work, apps aren’t always the best solution.
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.
Organisations 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.
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 organisations 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 claims.
Unlike commercial organisations, 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.
- Putting Expense Solutions’ Optical Character Recognition Capabilities Under the Microscope
- Invoice Solutions that Finance Teams and Approvers Actually Love
- Chrome River Hits New Global Expense Milestone with Launch of 31st Language
- Five Questions that CIOs Need to Ask about Expense Management
- Why Protecting Employee Data and Offering Superior Software aren’t Mutually Exclusive
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Wow! This Chrome River is great. Word has spread [in our firm] and people that were not invited to be in the pilot group rollout have asked to be included!