6DEC-JAN, 2018Copyright © 2018 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.DEC-JAN, 2018Mailing AddressValleyMedia, Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510 230 0396, F:510-894-8405 DEC - JAN - 2018, volume 03 - 07 Published by ValleyMedia, Inc. To subscribe to CFO Tech OutlookVisit www.cfotechoutlook.com Managing EditorSarah DawsonEditorial StaffSalesAaron Pierce Ava Garcia Jade RayAlex D'SouzaBanu JohnJoshua ParkerVisualizerStephen ThomasBUSINESS EXPENSE MANAGEMENT SPECIALFred Winterfred@cfotechoutlook.comEditor's NoteSarah DawsonManaging Editoreditor@cfotechoutlook.comBusiness owners absolutely need to give their expense management strategy the time and attention it deserves, as it plays a pivotal role in letting companies know where employees are spending money and how the company can do a better job in managing costs. A recent report by Forrester Research reveals that many CFOs, controllers and accounting professionals from small businesses are still under the impression that expense automation is only valuable for larger companies. However, with the introduction of cloud-based software, the pain points often associated with manual systems for efficient expense management and reporting process are no more existing, regardless of the size of the company. These automated expense management tools not only reduce processing costs but also help keeping track of spends easier for employees, managers and finance. The use of Artificial Intelligence (AI) is also helping reinvigorate the business expense management space by providing organizations a way to overcome the manual expense management conundrum. AI powered expense management not only allows organizations to create and record expenditures and expense report but also track and analyze spending activities and identify anomalies and patterns with ease. AI ultimately restructures and fully automates the expense reporting and tracking procedures, so that companies can leverage this information to uncover new ways to reduce costs and improve efficiency.With electronic receipts gaining popularity, Machine Learning (ML) has been described as the next competitive frontier for the expense management market. ML modules enhance expense management software to incorporate ways of recording expenses through email inboxes and automatically process receipts, extract important details including what was purchased, the amount spent, in what currency, from what vendor, and in what location--all without employee intervention. These advanced technologies are not only helping businesses save time and simplify tasks but also deliver richer, more personalized experiences than ever before. To help enterprises navigate the complexities of this market, CFO Tech Outlook presents its business expense management edition. The edition features a list of leading vendors in the business expense management space along with insightful articles from thought leaders. We believe this edition will help you in evaluating and formalizing strategies for your organization.Let us know your thoughts.It's Time to Optimize Business Expense*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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