configurable expense management for today’s evolving businesses

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