While 77% of organizations closely link the strength of their travel culture to their business performance, nearly seven in ten admitted to Harvard Business Review Analytic Services that they reduced their business travel budgets during the Great Recession of 2008. More than half restricted travel frequency, as well as selected cheaper airline tickets and accommodations.
Without the correct analytical tools, organizations often lack the visibility into their travel spend to strategically identify cost savings and growth opportunities. Businesses have traditionally viewed business travel as a cost center, and as such, it has often been one of the first casualties of corporate budget cuts. By viewing travel spend in a more analytical manner, it becomes easier to see the return on investment (ROI).
Use this report to discover how modern expense management software leverages data and allows companies to strengthen their travel culture through targeted cost cutting and insight-driven investment. Learn how automation and analytics can help you optimize your travel budget, allowing your business to avoid unnecessary spending, negotiate discounts and turn cost centers into revenue drivers.
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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.