LOS ANGELES, JANUARY 23, 2019: Chrome River Technologies, Inc., a global leader in expense and invoice management solutions, announces strong 2018 results, with a 37 percent year-on-year growth in sales bookings. Chrome River continued to sign major customers across many markets, including higher education, professional services, and financial services. With the addition of ExxonMobil and Bosch as new Chrome River customers, the company continues to expand its offerings to large global companies.
Chrome River’s increased revenues were also spurred by expansion to new international markets. The company established an operation in Germany, and signed an agreement with leading corporate travel provider Yatra to sell the company’s solutions in India.
The year also saw significant technology gains for the company. A major upgrade of Chrome River INVOICE now enables customers to manage both vendor invoices and employee expenses from a single web-based interface. In addition, enhancements to the company’s OCR technology enabled it to deliver significant gains in speed and accuracy of data extraction from receipt images. Chrome River was recognized as a “Leader” in analyst firm IDC’s Travel and Expense MarketScape, in which the study highlighted the company’s high level of innovation, strong global compliance and language capabilities.
“Our strong growth and continued investment in innovation over the course of 2018 leave me very excited for Chrome River’s prospects in 2019,” said Alan Rich, CEO and Co-founder of Chrome River. “We continue to cement our position as one of the very few expense management companies that can support the requirements of the biggest and most sophisticated global organizations. Our goal is to continue to be the thought leader in an application that is core to many companies’ digital transformation initiatives.”
About Chrome River
Chrome River Technologies, Inc. lets business flow for some of the world’s largest and most-respected global organizations. Our powerful, yet easy-to-use SaaS expense management and invoice automation solutions deliver the most modern global and mobile experience in the marketplace. Our highly-configurable business rules engine supports your evolving compliance and reporting requirements in today's ever-changing business climate. Chrome River is rated as a Leader in expense management by analyst firm IDC, and is loved by CFOs, CIOs, AP teams, travel managers and business travelers alike.
To find out why Chrome River is trusted by more than 2 million users at more than 800 organizations worldwide, contact us at +1 888 781 0088, or visit us at www.chromeriver.com, or on Facebook, Twitter and LinkedIn.