Visibility and effective analysis of spend data enables insight-driven decisions
One of the most critical challenges for many organizations is the effective use of financial data. Some miss opportunities to collect and store complete, accurate information on non-payroll expenditures, approximately two-thirds of all corporate spend. Others are unable to generate useful insights because data is stored in isolated spreadsheet files, databases, and software systems.
Organizations that deploy expense and invoice management solutions that are well-integrated with their other financial, travel, and accounting software enjoy a holistic view of all non-payroll spend and transparent approval workflows. Complete data can be used to analyze across a wide range of variables, such as:
- spend volumes by type
- compliance by department or location
- trends and outliers which could highlight waste, fraud, and groups/individuals at higher risk for for policy violations
- outstanding liabilities and in-process credit card transactions
- the ROI associated with T&E expenses associated with sales activities
This report explains how, armed with sophisticated analytical capabilities, organizations can turn these large and complex data sets into actionable intelligence. These insights can help to eliminate inefficiencies in workflows and improve the speed and accuracy of financial reporting, in addition to enabling cost-saving business decisions that deliver value for the organization.
Download the whitepaper using the form to the right and see what type of proactive decision-making you can drive with data insights from across 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.