Product Overview of Chrome River
Chrome River is a comprehensive and user-friendly expense management and accounts payable software designed to automate, streamline, and enhance the efficiency of travel expenses, employee reimbursements, and corporate credit card transactions.
What Chrome River Does
Chrome River is tailored to manage the entire lifecycle of expense reporting and invoice management. It replaces traditional manual processes with a robust, automated system that integrates seamlessly with various financial and enterprise resource planning (ERP) systems. This software is particularly useful for organizations seeking to enforce business rules, ensure compliance, and improve the accuracy and speed of their financial processes.
Key Features and Functionality
Automation and Efficiency
- Chrome River automates the approval process, reducing the time and effort required for expense reporting and reimbursement. It allows users to submit pre-approval and expense reports efficiently and track them in real-time.
- The software integrates with credit cards, enabling automatic creation of expenses from credit card transactions, along with real-time alerts and statement reconciliation.
User-Friendly Interface
- Chrome River features a simple and intuitive interface that requires minimal training for new users. It supports a mobile strategy, providing the same functionality across various devices, including Apple, Android, and BlackBerry, without the need for downloads or versioning.
Smart Features
- The “Snap & Send” feature allows users to take photos of receipts using their devices, which are then automatically read and classified using Optical Character Recognition (OCR) technology. This minimizes data entry and keeps trip expenses organized chronologically.
- Integrations with services like Uber enable the direct transfer of ride information into expense reports.
Compliance and Security
- Chrome River enforces university or company business rules and compliance, ensuring that all expenses adhere to predefined policies. It also ensures sensitive data is never stored locally on users’ devices, enhancing data security.
Integration Capabilities
- The software offers a comprehensive integration platform that connects with major ERP systems such as NetSuite ERP, Sage Intacct, Microsoft Dynamics GP, Oracle ERP Cloud, and SAP financial solutions. This integration is facilitated through secure file transfers and REST APIs, ensuring real-time data exchange and minimal IT effort.
Additional Tools
- Chrome River includes tools like mileage calculators, per diem rates calculators, and travel icons that simplify the process of categorizing expenses without exposing users to the complexity of general ledger accounting codes.
- The system supports single sign-on and allows users to assign delegates for managing expense reports and approvals.
Data Management
- The software provides enhanced visibility into financial data, ensures data consistency through synchronized updates, and reduces the processing time required for managing data entry in multiple systems.
In summary, Chrome River is a powerful tool that streamlines expense reporting, enhances compliance, and integrates seamlessly with various financial systems, making it an invaluable asset for organizations seeking to optimize their financial management processes.