Welcome to the Chrome River Currents monthly digest! Each month we highlight the latest news and analysis on business travel, expense management and online expense reporting. This month, we’re focusing on helping organizations use cloud-based software in tracking business expenses. We offer tips on using analytics and mobile tools, and introduce our four-part series on reporting travel and entertainment expenses under an IRS accountable plan.
3 Ways Mobile Apps Can Improve your Expense Management Process
Mobile expense tracker apps offer secure access to the same expense management software you use on a computer, but through a tablet or a smartphone. These mobile apps can make tracking business expenses on the go easier, more efficient and more accurate than waiting until you get home from a business trip.
What Insights Can Expense Management Analytics Uncover For You
Whether in business, sports or warfare, we tend to admire leaders who make good decisions based on intuition and instincts. But today’s complex business world also requires calculated evaluation. Expense management analytics offer reporting tools that help leaders make better decisions — decisions that combine quantitative and intuitive insights.
5 Ways Automated Invoice Management Can Save You Money
Cloud-based invoice management software presents many businesses and organizations with ways to cut costs through an affordable software subscription. These services can increase invoicing efficiency, accuracy and compliance, reduce manual processing of paper invoices, and help companies cut late payments and capture early payment discounts.
How to Take the Headache Out of Invoice Management
In an ideal world, your organization’s invoice management would be secure, transparent and electronic, but many vendors and suppliers still issue paper invoices. Automated routing can reduce invoice processing costs and increase efficiency through streamlined initial data capture, automatic approval routing and secure file cleanup.
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.