Leveraging T&E Data and CRM Integration to Deliver Sales Efficiencies
T&E spend represents 10-12% of the operating budget - but 51% of organizations don't have a way to track T&E spend against revenue generated. Traditionally, Corporate finance teams and sales leaders modified their travel and expense budgets or sales strategy plans based on incomplete or inaccurate data. Or had to strip out critical travel to adhere to blanket travel budget edicts.
This whitepaper examines the business benefits of connecting the dots and tying T&E expenses to revenue to see which types of travel and entertainment produce better ROI.
The paper projects that when finance and sales have this precise ROI data, organizations can answer:
- Which of your sales team gets the biggest return from their face-to-face meetings?
- Do all prospect types respond the same way to corporate hospitality?
- How much does an expense dollar earn for different customers in different markets?
Now sales teams and finance leaders can work together to connect expenses to accounts and opportunities to see what types of spend result in revenue...and which don’t. The result is much smarter decisions on how to optimize T&E budgets while increasing revenue.
Organizations that leverage the combined data from their CRM system and their expense management solution and deliver it through an intuitive and easy-to-read interface, can obtain deep insights into their employees’ spend, and the potential impact on revenue. Analyzing this information not only enables organizations to make the most efficient use of their budgets, but also provide critical intelligence to support strategic sales planning initiatives and deliver increased revenues for both new and existing customers.
Download the whitepaper using the form to the right and see if better understanding where and when expense drives revenue can help transform your organization. And when you're ready to learn more, we're here to help. After all, Chrome River lets business flow.
Chrome River provides expense and invoice automation solutions that let business flow for more than 1,000 organizations worldwide. The company’s easy-to-use, enterprise-scale solutions enable future-readiness for its customers. As a result of this focus on innovation, Chrome River is rated as a Leader in expense management by analyst firm IDC. Chrome River’s commitment to delivering a superior customer journey by creating long-term value for its customers, makes it a preferred choice of CFOs, CIOs, AP teams, travel managers and business travelers. Details on Chrome River’s customers can be found on the company’s web site.
More than 2 million business travelers around the world trust Chrome River. To learn more, contact Chrome River at 888-781-0088, or visit chromeriver.com and its social pages on LinkedIn, Facebook, Twitter, and Instagram.
Our firm saved over 1 million dollars in travel expenditures [last year] as a result of implementing the Chrome River Expense Pre-Approval process.
It is taking us just one quarter of the time to manage the expense process as it used to.
Chrome River takes all the guess work out, forces the user to be crystal clear on where they put their money and allows us to effortlessly reimburse them.