Chrome River makes financial teams’ lives easier by streamlining processes and delivering actionable insight for smarter business decisions. From reducing the amount of manual processing required of expense, accounts payable, financial reporting and accounting professionals, to enabling vendor discounts, Chrome River can deliver major financial and operational benefits.
Chrome River was created to integrate seamlessly into your organization’s existing financial solutions. Across our global network of 600 customers, we integrate with ERP solutions from all major vendors, such as SAP, Oracle, JD Edwards, Microsoft, Sage, Netsuite, Elite, and Ellucian. This compatibility gives you the peace of mind that Chrome River will work for you, right out the box.
Managing corporate spend is critical for finance teams and controllers. Chrome River gives deep insight into spend, be it on an organizational, geographical or departmental basis. Analysts and controllers can drill down into spend across a wide range of criteria to spot inefficient, wasteful or even fraudulent spend, enabling steps to be taken to reduce these spend patterns.
In addition, finance teams can track and easily report on spend by different categories and vendors. This data can then be used to negotiate discounted rates with airlines, car rental firms, hotel chains, and other partners with whom they have high spend volumes.
Straightforward reconciliation with card purchases
Growing numbers of organizations use corporate cards to control costs and track spend. Chrome River integrates with all major cards to enable streamlined reconciliation of card purchases with expense reports, allowing finance and accounts payable teams to pay bills more rapidly and avoid unnecessary fees. In addition, Chrome River STATEMENTS, developed in conjunction with US Bank, allows corporate US Bank cardholders’ statements to be automatically integrated into users’ expense reports, further reducing the administrative burden of manually reconciling purchases, and speeding up payment processing times.
Rapid ROI and Low TCO
We know that purchasing Chrome River itself needs to be a sound financial decision. Industry data suggests that automating expense reporting can reduce per-report processing costs by about 75 percent, so Chrome River can rapidly pay for itself simply by eliminating costs related to manual processing. Add to this the financial benefits delivered by reducing expense fraud and cost control measures brought about by the insight that Chrome River delivers, and ROI times can be as low as a few months.
Chrome River also offers a lower TCO than many competing products. In addition to our attractive pricing structure, many features that other vendors may charge for - such as optical character recognition processing of expense receipts - is included within the subscription. Chrome River’s architecture also allows for unlimited configurability without the requirement for code changes. Therefore, whenever your organization’s internal expense approval processes or business processes change, Chrome River can easily change with you. As a result, we can offer rules changes within the subscription fee, further lowering TCO compared to other solutions.
This new Chrome River AUDIT module is going to be such a huge time saver for my team. Thank you so much!