BMO Spend & Payment Solutions and Chrome River announce strategic partnership
TORONTO and LOS ANGELES-- BMO Spend & Payment Solutions, a division of BMO Financial Group and Chrome River Technologies, a provider of online expense reporting and invoice management services have announced a strategic referral and solution development partnership. The alliance will advance customers' constant pursuit of greater visibility and control over corporate spend ― particularly with client-billable expenses.
"Client-billable expenses are a costly, administrative headache; traditional, manual process is prone to errors. That means service organizations are picking up more than their fair share of the tab," said Terry Wellesley, Executive Managing Director for BMO Spend & Payment Solutions. "The combination of a corporate card that enjoys best-in-class acceptance along with the expense management reporting technology of Chrome River provides even deeper visibility ― for business travelers and for their billing and payment departments."
"Driving efficiency for expense capture and management is a key priority for every business across all industries ― especially in an increasingly global market," said Alan Rich, co-founder and CEO of Chrome River Technologies. "We're anticipating that the integration that we've developed with BMO Spend & Payment Solutions will continue to evolve and grow through increased customer and partner interaction."
This comprehensive system delivers several bottom-line business benefits to both sets of customers including:
Reduced administrative overhead through easy-to-use systems for managing expenses, giving busy professionals and expense managers an opportunity to reallocate resources to alternate high-priority projects.
Rapid expense reimbursement through optimized systems that speed the tracking, reporting and processing of expenses, helping improve businesses cash flow and deliver more timely and accurate reports.
Improved expense capture and reimbursement with an integrated corporate card and mobile expense reporting solution.