Post on 20-Feb-2017
W W W . C H R O M E R I V E R . C O M
Configurable Expense Management
for Today’s Evolving Businesses Embracing Change and Minimizing Risk in the new
Business Travel Environment
FRANK DAVIS, SENIOR MANAGING DIRECTOR
• How is the changing business environment
impacting travel expense management?
• How can companies adapt to this change?
• What risks are organizations exposed to,
through poor expense processes?
• How can they protect themselves against these
risks?
What we’ll talk about today
How is Business Changing?
CONFIGURABLE EXPENSE MANAGEMENT FOR TODAY’S
EVOLVING BUSINESSES
Business has Changed
Data is
everywhere and
needs integrating
Organizations
must constantly
evolve
The pace of
business has
accelerated
The business
climate is more
complex
The Workforce has Changed
Consumerization
of enterprise
apps is critical
There’s a war for
top talent
Employees
expect more in
and out the office
Engagement
drives
performance
How can Companies Adapt?
Deploy in the cloud for always-on, anywhere access
Agility is key – small iterative changes work best
Maximize mobile capabilities to engage employees
Leverage analytics to make the most of your data
Offer user-friendly and intuitive productivity solutions
Why Automated Expense Management?
Policy compliance
increase with rules
enforced through
expense solution
Reduction in
expense report
processing costs
($26.63 to $6.85)
Booking tool integration
Mobile expense capabilities
Pre-populated fields
Expense management software
Submitting electronic reciptsBusiness
travelers’ top
priorities for
expense
management
What Risks do Companies
Face?
CONFIGURABLE EXPENSE MANAGEMENT FOR TODAY’S
EVOLVING BUSINESSES
The Perils of Not Automating
Difficult to analyze data to identify trends
Inefficient, time-consuming processes
Higher potential for employee expense fraud
Risk of tax and regulatory non-compliance
Unable to leverage data to secure vendor discounts
Risk of Expense Fraud
How can organizations
prevent expense fraud?
CONFIGURABLE EXPENSE MANAGEMENT FOR TODAY’S
EVOLVING BUSINESSES
Create a global
travel and expense
policy.
Implement automate
policy compliance
rules.
Policies and compliance
Implement
corporate cards
and integrated
travel booking
tools.
Control and track spend
Mandate
preapprovals,
introduce audits
and segregation
of duties.
Remove temptation
Prevent fraudulent expense
submission and identify potential
issues through business
rules and
analytics.
Leverage technology
Ensure team
members are
aware of (and
understand)
policies. Help
them to stay
compliant.
Education and awareness
Questions?
Stay in touch
frank.davis@chromeriver.com
chromeriver.com/blog
linkedin.com/company/chromeriver
twitter.com/chromeriver
facebook.com/chromeriver
youtube.com/chromeriver
Configurable Expense Management
for Today’s Evolving Businesses Embracing Change and Minimizing Risk in the
new Business Travel Environment
FRANK DAVIS, SENIOR MANAGING DIRECTOR