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SILICON100 2017

“Our mission is to delight business travelers, travel managers, finance teams and CFOs – to remove friction from AP workflows”: Chrome River

thesiliconreview-alan-rich-ceo-chrome-river-17

“Our goal was to provide a solution that easily automates and enforces any organization’s business rules.”

About the company

Chrome River was founded in 2007 to provide mid-size to global organizations with a powerful, easy-to-use, and elegant expense report and invoice automation software that can be accessed over the internet – anywhere, anytime. Our goal was to provide a solution that easily automates and enforces any organization’s business rules, so the software works to fit your organization’s needs not the other way around. We also wanted to provide a solution that was straightforward to use, ensuring high user adoption. This approach has been validated by our consistent high growth and outstanding customer loyalty. 

Its customers

More than 600 leading organizations worldwide across every sector and industry trust Chrome River with their expense and invoice automation. Our SaaS-based solutions enable more than 1 million users in 100 countries to simplify their expense reporting and eliminate the need for tedious and error-prone manual processes.   

Company’s experience

Chrome River’s leadership and employees have years of experience serving the financial management needs of global organizations, providing a deep understanding of an organization’s financial operations, processes and goals. Our goal is to fully leverage this experience to deliver the best expense reporting and invoice processing software to our customers, around the globe.

Products

Chrome River's AP automation software delivers benefits to your entire organization, from employees to business travelers to AP managers to the office of the CFO. Employees and business travelers want the software to work where they are, on the device they’re on – or it simply doesn’t work for them. AP managers want modern, cool software, too. Their employees look at paper receipts like they’re something they’ve never seen before. And CFOs want a global expense reporting solution that works for their global organization – and one that adapts as their business evolves and changes.

Chrome River provides a common set of dashboards, entry screens, account selections, compliance policies, routing rules and approvals to deliver seamless efficiencies for an organization’s operations and a delightful experience for employees and accounts payable professionals.

From manual to automated AP workflows

Manual processes for expense reporting and invoice processing are expensive, error-prone and highly inefficient. Chrome River provides a single common platform for the entire accounts payable workflow process, and direct integration with leading ERP and financial systems, travel booking tools and credit card feeds.

Chrome River EXPENSE

Streamline your expense report entry, approval, and reimbursement with Chrome River EXPENSE. Employees will love how easy the software is to use – on any and every device. Accounting and finance staff love that all business rules, best practices, and GL mapping is built inTravel managers love that trip pre-approvals coach the business traveler on expense policy compliance. 

Chrome River INVOICE

Chrome River INVOICE automates purchase order matching to received invoices and then routes the invoice for proper approval and payment. It delivers a paperless invoice workflow – no scrambling, no data entry – just a smooth process for organizing invoices and payments. Remote offices become transparent, no double payments, no late payments, and AP staff can concentrate on more strategic projects.

Chrome River ANALYTICS

Chrome River provides easy access to real-time spend analytics and electronic image viewing to allow for better cost management and improved negotiations on vendor spend. Expense spend analytics, key operational metrics, and in-depth reports are now available at your fingertips. Business intelligence and AP analytics are just a click away.

ChromeRiver goes On-Air

TORONTO: May 4, 2017:  Chrome River Technologies, a leading global provider of expense management and supplier invoice processing solutions, has announced the launch of its Canadian data hosting capabilities. Chrome River will use Amazon Web Services’ Montreal-based datacenter, using two “Availability Zones,” each with redundant power, networking and connectivity, housed in separate facilities. 

The datacenter will allow organizations, including many federal and provincial government entities, to comply with requirements to host their employees’ expense management data entirely within Canada, where necessary. These regulations include the Privacy Act for federal government data, the Personal Information Protection and Electronic Documents Act (PIPEDA) for the private sector, and local information protection laws in each province and territory.  

“As Chrome River continues to expand its presence in Canada, our customers particularly those in higher education or with a public-sector focus – are increasingly expressing a need to keep their employees’ expense data in Canada,” said Alan Rich, CEO of Chrome River. “We’re happy to be able to provide the enhanced data protection capabilities that many organizations now require, while offering a solution suitable for global expense management requirements.

Los Angeles, April 27, 2017: Chrome River Technologies, a global leader in expense and invoice management solutions, announces record first quarter sales, increasing its customer acquisition volume by almost 100% over the corresponding period in 2016, and recording the largest first-quarter sales total in the company’s history.

Chrome River added customers across a broad range of industries and countries, announcing new brands such as global soft drinks bottler, Coca-Cola Hellenic Bottling Company and Canadian transportation leader, Bison Transport. The company also reached several major milestones in its growth. In March, it achieved an annualized run rate of 10 million expense reports and invoices processed, and growing, an increase of close to 50 percent over the corresponding month last year. This growth highlights both the rate of customer acquisition and the increasing adoption of Chrome River’s solutions within its customer base. 

Meet the luminary: Alan Rich, Co-founder and CEO

He guides software design with an acute focus on business function.  He has worked with numerous organizations to implement innovative technology and provide expertise in financial management systems. He co-founded Elite Information Group which provided financial and practice management applications for the professional services industries including the global market leading Elite Enterprise. 

“We passed the 600-customer threshold, and now has users in more than 100 countries, submitting expenses in 170 currencies.”

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