The survey reveals findings on the many benefits of expense management automation, which includes lower processing costs, better ability to enforce travel policies, improved visibility over spend and quicker reimbursement of employee expenses.
Los Angeles, CA (PRWEB) April 23, 2013
Chrome River Technologies, a leading provider of expense management and automated invoice processing software, today announced research findings about the challenges that engineering firms face with their industry’s unique travel and expense reporting needs.
Engineering firms must track client receipts and allocate travel and expense costs between multiple clients. This process is both time-consuming and costly. They also need to calculate billable and non-billable expenses, which makes the process more time-consuming and subject to errors. To ensure their success, engineering firms must produce accurate client billings in a timely manner, so that they can be collected with minimal write-offs.
The Chrome River and PayStream Advisors' research revealed that while engineering firms face unique challenges, the firms surveyed were able to address their travel and expense reporting needs in different ways. One option was to have internal IT resources build an expense management solution, which was perceived as a potentially expensive option. Another more affordable option was to implement an expense management solution offered through Software as a Service, which eliminates expensive software development and/or licensing costs.
Both of these options worked effectively for engineering firms, because they increased operational efficiency and reduced costs by automating what was once a manual and time-consuming process. The survey reveals findings on the many benefits of expense management automation, which includes lower processing costs, better ability to enforce travel policies, improved visibility over spend and quicker reimbursement of employee expenses, which leads to improved employee satisfaction.
To learn the other benefits of expense management automation that were reported by survey respondents, read the complimentary report titled “Unique Travel and Expense Needs for Engineering Firms” by Chrome River and PayStream Advisors. Click here.
About Chrome River
Chrome River Technologies, Inc. provides expense reporting and invoice automation solutions that uniquely combine the latest available Internet technologies with a team of industry-leading implementation and support experts. Chrome River delivers immediate payback via a “Software as a Service” delivery model that requires no hardware, no software, and no long-term commitment. This unique service is easily configurable to meet the needs of organizations worldwide with complex expense management policies and collaborative approval processes. Additional information about Chrome River Technologies, Inc. and its solutions may be obtained by phone at 1.888.781.0088 or by visiting the company website at http://www.chromeriver.com.
Chrome River Technologies
Tel: 888.781.0088 x701