Expense Analytics and Reporting
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Expense report software solutions can create huge volumes of data on employees' business travel spend. How can organizations use this to make smarter decisions?
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.
Whether in business, sports or warfare, we tend to admire leaders who make good decisions seemingly based on intuition and instincts. In today’s complex business world, however, gaining a competitive edge also requires calculated evaluation. Expense management analytics provide powerful tools that can help leaders make better decisions — decisions that combine quantitative and intuitive insights.
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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.