Canadian Treasurer

June 28, 2012

BMO and Chrome River team up to deliver integrated corporate card and expense management

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.






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