SYDNEY, June 14, 2016: Chrome River, a global leader in expense and invoice automation solutions, announces the launch of Asia-Pacific operations. Chrome River PTY LTD, based in Sydney, will provide dedicated support and implementation services to the company’s existing customers across the region, as well as increase its presence with the addition of new customers.
Asia-Pacific is a major growth market for both business travel and enterprise software. It is now the largest market for business travel, representing 39 percent of all global spend, according to the Global Business Travel Association. Business travel across the region is forecast to see 7.7 percent annual growth over the next five years, more than double that of the United States(1). In addition, according to Gartner, the mature Asia-Pacific region (Australia, New Zealand, Singapore and South Korea) is expected to see its enterprise applications market grow by 53 percent, from US$8.6 billion in 2016, to US$13.2 billion in 2020 (2).
“We already have a significant number of users across Australia and Asia-Pacific, and we see a tremendous opportunity to increase our presence with global and local customers and partners across the region,” said Alan Rich, CEO of Chrome River. “Not only is there significant growth in business travel across Asia-Pacific, but there are a number of complex, country-specific taxation requirements which drive the need for a sophisticated, robust expense management solution that configures to the needs of companies operating in the region.”
The company previously established a presence in the United Kingdom in 2014, and now has customers and partners across Europe.
(1) GBTA BTI™ Outlook, July 2015
(2) Gartner, Forecast: Enterprise Software Markets, Worldwide, 2013-2020, 1Q16 Update, 17 March 2016, G00294997
About Chrome River
Chrome River Technologies, Inc. lets business flow for some of the world’s largest and most respected global organisations. Our highly-configurable cloud-based expense reporting and supplier invoice automation solutions deliver an elegant and intuitive user interface, which offer the same high quality experience on a smartphone, tablet or laptop. Our SaaS products provide a world-class business rules engine and technology infrastructure, combined with a completely agile solution that supports today's changing business climate, and that the CFO, AP and travel managers, and business travelers will all love. To find out why Chrome River is trusted by more than 1 million users at 500 organisations worldwide, contact us at +61 2 9331 6809 or visit us at www.chromeriver.com.