Pitfalls of Manual Expense Processes
Manual expense reporting might seem the easiest solution for your company. After all, everyone can fill out a spreadsheet and photocopy receipts. But did you know that manual expense reports cost an average of $26, while an automated expense report costs only $7. You actually LOSE money by sticking with the status quo.
And automation helps strip out the drudgery of submitting and approving expenses. No more lost receipts or accidental double entries - simply snap and send a picture of the receipt with your cell phone camera and add to your expense report. No more laying out your receipts in chronological order - an automated solution includes built in OCR and sorting according to date and time. And mobile options allow business travelers to start and finish expense reports on their tablet, their phone, or their laptop - whichever is most convenient for them.
But let's not forget about your finance team. They can have real-time access to current spending data and key analytics to help make critical business decisions and drive improved outcomes. And the good news is you don't need to have a PhD in pivot tables or a black belt in Crystal Reports!
This whitepaper also dives into other benefits, too:
- automation provides cost control with real-time spend policy compliance monitoring and approval routing
- properly defined authorization workflows help comanies speed reimbursements
- a truly integrated platform requires less training and provides rapid user adoption
Download the whitepaper using the form to the right and see if the pitfalls of sticking with a manual process are holding you back. 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.