At Chrome River, we’ve long recognized the value of effective business analytics (BA) that can empower an organization’s stakeholders to make smarter, data-driven decisions. Effective BA improves the decision-making process by allowing finance staff to track, process, and analyze data and - perhaps most importantly - transform it into actionable insights that drive strategy. This could be anything from identifying pockets of non-compliant or wasteful spend, to supporting negotiations for vendor volume discounts.
The world-class business intelligence reporting engine that powers Chrome River ANALYTICS enables all of these functions. Chrome River customers leverage our deep analytics capabilities so they can control spend by transforming expense spend data into insightful reports.
Related: The Cost-Control Benefits of Analytics in Expense Management
We recently enhanced our data analytics offering with a new feature that provides our customers with even more timely and impactful reporting on spend within the Chrome River interface: scheduled standard reports.
Customers have been able to schedule ad hoc reports for some time, and now it is even easier to take advantage of our pre-built standard reports by scheduling them to run on a regular basis.
With ad hoc and standard reports, business analysts, AP managers and line-of business heads can tap into the current state of their organization’s spend activity and derive the metrics necessary to stakeholders to make fast, impactful business decisions by:
- Tracking global and departmental spending, checking on cost center activity, comparing individual user activity.
- Reviewing past expenses, analyze current ones and compare past and present amounts.
- Analyzing billable and non-billable expenses within a chosen date range for any combination of criteria, including amount, cost center, employee, expense type, region, vendor and more.
Related: Expense Analytics as a Cost Management Tool
Avoid repetitive work with standard report templates
ANALYTICS users can now save frequently used parameters for standard reports as a template. Templates eliminate the repetitive task of choosing standard report parameters each time the user runs them. This makes it easier to re-run the same report parameters in the future and save a template as a 'favorite' for even faster access to the template - and the resulting report data - in the future.
Once standard report templates are created, ANALYTICS users can then schedule their standard report templates to run a specified number of times during a certain timeframe. They can also specify the users in their company who will receive the report results.
Accessible from any device
The Chrome River suite enables your staff to work wherever they are, on any device. With ANALYTICS reports, finance managers can can run ad hoc and scheduled reports to access key spend data from any device, anywhere. This empowers finance managers to quickly provide business stakeholders with requested spend reporting that will inform their data-driven decisions.
With ad hoc and scheduled reports, customers can ensure that their finance managers can quickly access the spend data they need to formulate and provide actionable insights to management. These new reporting features are available to to all ANALYTICS customers on the MERCURY platform.
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Our choice of Chrome River EXPENSE was made in part due to the very user-friendly interface, easy configurability, and the clear commitment to impactful customer service – all aspects in which Chrome River was the clear winner. While Chrome River is not as large as some of the other vendors we considered, we found that to be a benefit and our due diligence showed that it could support us as well as any large players in the space, along with a personalized level of customer care.
We are excited to be able to enforce much more stringent compliance to our expense guidelines and significantly enhance our expense reporting and analytics. By automating these processes, we will be able to free up AP time formerly spent on manual administrative tasks, and enhance the role by being much more strategic.