Automate Corporate Card Payments and Employee Reimbursements
As a complementary service to Chrome River EXPENSE, our automatic and electronic payment capability efficiently handles the end-to-end expense payment process and provides quick funding directly into an employee’s bank account. Your employees will love how quickly and easily DIRECT PAY can improve the expense reimbursement process. Cash flow can be controlled while ensuring that corporate card payments are made on time.
Eliminate paper checks
The secure DIRECT PAY service simply debits your organization’s bank account for all specified approved expenses and credits your employees’ corporate cards and personal bank accounts. There are no more paper checks to manage, print, or mail and it greatly reduces your administrative processing costs associated with generating payments. Increased control, speed and efficiency allow your operation to focus on more strategic business tasks.
Transfer expense reimbursements to employee bank accounts
When an employee submits an expense report, they want their reimbursement right away. DIRECT PAY delivers by transferring expense reimbursements into your employees’ bank accounts with a turnaround time of three business days. All of your employees are eligible for DIRECT PAY and the setup is easy. The employee self-service bank account maintenance in our secured and encrypted vault also relieves your accounts payable staff from having to store, maintain and update.
ACH processing service
By utilizing the DIRECT PAY ACH processing service, you eliminate a number of the back-end steps in the reimbursement process for the AP department, freeing them to focus on higher-level tasks. With DIRECT PAY, approved expenses are exported as both journal and cost entries to your organization’s financial system and into electronic payment files for the bank-to-bank and bank-to-credit card provider transfers. There is no duplicative data entry because all of the transactions are handled automatically.
Auto-payment to corporate cards
DIRECT PAY can also make automated payments to employees’ corporate cards. For approved expenses that were incurred on an employee’s corporate card, a separate payment file is created by DIRECT PAY that sends payments for these amounts directly to the corporate card provider. A built-in reconciliation report lists all transactions being exported, amounts being paid and who is being paid. It couldn’t be simpler and your corporate card management is a lot easier.
The DIRECT PAY service makes life easier for both your AP staff and your employees waiting for their expense reimbursement. Chrome River lets business flow.
Emburse Global Reimbursements
As part of the Emburse Pay program, Chrome River offers Emburse Global Reimbursements, powered by TransferWise. Emburse Global Reimbursements is a modern alternative for global organizations to streamline their international employee expense reimbursement processes to reduce costs, increase efficiency and easily manage their transfers. Transparent fees and no exchange rate mark-ups saves your business over 60% of the overall international transfer cost and dramatically speeds up the delivery of funds with a 1-2 business day turnaround.
- Lowers expense report payment processing costs through process efficiency
- Streamlines process with end-to-end handling of reimbursement process
- Reduces payment cycle time based on your approval of expenses
- Eliminates re-keying of information to other systems
- Increases employee satisfaction
- Improves internal communication regarding payment timing
Chrome River is making my life easier...it's making ALL of the employees' lives easier.