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.
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.
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.
Every organisation’s finance team knows that controlling supplier costs is critical. However, one area that many organisations have yet to address is the actual cost of the invoice management and processing function.
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.
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?
- 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!