Insurance Giant Leverages Chrome River to Track and Optimize $90 Million in Annual Spend
The various stakeholders in corporate travel can include thousands of travelers crossing the globe for sales meetings and industry events. Some are department heads, finance executives, and AP teams monitoring spending and policy compliance. And still others are travel managers negotiating rates with airlines and hotels. How does a major health insurance provider with over 50,000 employees successfully get all of its personnel involved in business travel on the same page?
The research analysts at IDC interviewed the company's Travel and Events Director to discover the benefits realized from implementing Chrome River to manage 100,000 transactions a year, representing $90 million of annual spend:
- The system streamlined workflows by automatically adding purchases to expense reports from users' travel booking tool.
- Electronic receipt images increased productivity for 20,000 business travelers on the go.
- A straightforward interface and a web app that features the same user experience across devices allows complete mobility, minimal training, and no need for downloads or updates.
- Automated compliance enforcement at the line item level facilitates efficient processing and reimbursement, as well as the ability to configure policies and requirements dynamically to suit business needs.
- Corporate card integration helped the organization reconcile transactions quickly and substantially limit credit card defaults.
- Consolidation of travel and event expenses gives managers the visibility to track spending in real-time and prevent budget overages.
- Business intelligence reports return actionable insights to easily spot trends and make data-driven decisions.
In Chrome River, the organization found an expense management software vendor that was flexible – providing technology that could integrate smoothly into its existing architecture and grow with it as it required new capabilities. Fill out the form to the right to discover how it implemented an easy-to-use solution that reduced travel and expense costs, while increasing transparency and control.
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 ExpensePre-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.