US Bank and Chrome River Launch Expense Management Solution
US Bank said that it is partnering with expense management provider Chrome River Technologies to offer clients a new option for automating and controlling their travel expense entry, routing, approval and reimbursement process.
“We are pleased to offer Chrome River EXPENSE to US Bank customers,” said Alan Rich, co-founder and chief executive officer (CEO) of Chrome River. “The key for us is to make the solutions easy to use so the end users are happy, and make them flexible so they can be configured to meet the needs of organizations worldwide.
“Our tools make automated expense management – what we call ‘collaborative cost control’- an easy and responsible choice.”
The new solution is being promoted as enhancing an organisation’s accounts payable (AP) processes by controlling costs, improving operational efficiency, reducing organisational risk, and providing increased visibility into spending. It is also designed to integrate seamlessly with the US Bank corporate travel card.
Lynn Heitman, senior product and marketing officer of US Bank corporate payment systems, says the new agreement means US Bank can provide online expense management tools for virtually any customer. “By partnering with Chrome River, we are able to provide solutions for organisations of any size, delivering transparency and efficiency that save businesses time and money.”
Separately, the bank has also joined with expense management provider Concur to offer customers greater transparency into and control over their corporate travel value chain. US Bank clients will have access to Concur’s online solutions, giving them more visibility into their corporate spending patterns, helping them identify cost saving opportunities, and ensuring programme compliance.
“Travel and entertainment (T&E) represents the second-largest controllable expense,” said Michael Hilton, executive vice president (EVP) and general manager, Concur Travel and Expense. “Visibility into this spend is essential for companies to make their spending transparent in real time so they can make more informed spending decisions and impact their bottom line.”