Automated Invoice Management
Chrome River INVOICE is a global future-ready solution that allows you to quickly capture, store, match and approve invoices in a modern interface. Say goodbye to frustrations over mounting piles of paper, late payment fees and lack of visibility. Say hello to maximum efficiency, insight and agility with streamlined AP automation.
Achieve Crystal Clear Visibility
Get visibility into everything from spend patterns to the status of an invoice with Chrome River INVOICE. With a centralized database for all your invoices, there is no more wondering about what happened to that invoice from a month ago, as you will have real-time access to the status of all your invoices. Obtain a clear, accurate picture of your organization’s invoice spend, volumes and cycle-times with our robust ANALYTICS tool, enabling your AP team to negotiate with suppliers and make data-driven decisions.
Optical Character Recognition (OCR)
AP teams already have a lot on their plate, even before the lengthy invoice management process begins which can result in delayed payments, upset suppliers, decreased compliance enforcement, and lower data accuracy. Chrome River INVOICE offers the latest embedded OCR technology, OCR VISION, to automatically scan and extract invoice image data for processing, greatly reducing data entry while significantly increasing accuracy with no special training or templates required. Additionally, you can take OCR accuracy one step further by adding human verification with Chrome River CAPTURE.
Increase Efficiency and Maximize Agility
Whether your organization receives invoices as paper or images from suppliers, or in a true electronic (data) format, we can meet your business needs by helping you increase compliance, minimize risk and gain control. Chrome River’s eINVOICE mapping tool allows you to easily upload supplier invoice data files in bulk directly into Chrome River INVOICE for processing. Once entered, eInvoices follow your normal invoice business process flow to route for approval via a configurable workflow to ensure the right people are reviewing and approving payments.
Gain Confidence in Your Procurement Process
Not all types of purchases are created equally. Your organization may have a policy that requires a purchase order be issued for acquisition of goods and services of a certain type or above a certain threshold. Chrome River offers a powerful, yet easy-to-use PURCHASE ORDER module fully integrated with Chrome River INVOICE in one digital platform to provide purchase requisition creation, routing and approval, as well as purchase order conversion capabilities.
You may already be creating purchase orders in another system. If so, we can integrate your purchase order data directly into Chrome River INVOICE using our Chrome River Cloud Connector.
Regardless of how your purchase order data was created, either directly in the Chrome River PURCHASE ORDER module or from your existing purchasing solution, you can then use that purchase order data to execute two-way matching with the invoice or three-way matching between the purchase order, invoice and goods receipt. Matching your data brings peace of mind that you are paying your vendors only for what was approved, ordered and received.
Keep Everyone Happy
Speedy, efficient invoice processing not only allows your organization to be more agile, but also frees up time for your AP team to work on higher value added activities over manual data entry and invoice tracking. With Chrome River INVOICE, your AP team will benefit from an intuitive solution that transforms them into strategic advisors. Keep your suppliers happy as well, with our PAYMENTS tool that enables you to eliminate checks in favor of more secure and cost effective payment options such as virtual card or ACH payments.
- Strengthen relationships with suppliers, never pay late again, enable the capacity to take early payment discounts
- Empower employees to be efficient with an elegant, intuitive interface on the device of their choice
- Leverage a configurable business rules engine to systematically enforce compliance and reduce the opportunity for fraud
- Easy approval processing right from your email with systematic alerts and notifications when the status of an invoice changes
- Two and three-way purchase order matching capability for peace of mind
Paper invoices used to get lost or held up on someone's desk. We were able to move to a more decentralized approach where everyone in the firm that receives vendor invoices is ultimately responsible for getting them entered into Chrome River. Because Chrome River is so easy to use, that was not a difficult undertaking in the least. And our vendors are paid more timely!