Chrome River Expense

Time & Expense Tracking

Chrome River Expense simplifies the tracking of employee time and expense entries by providing a unified platform to log hours spent on specific projects or tasks alongside related expenses. Employees can easily input billable and non-billable hours, categorize expenses, and associate them with specific clients or projects. Managers benefit from real-time visibility into how resources are utilized and can swiftly identify areas for cost savings or productivity improvements, effectively solving challenges related to accuracy, transparency, and resource management.

Mileage Tracking

This feature streamlines the recording and reimbursement of mileage expenses incurred by employees during business travel. Employees simply input their travel details (start and end points), and Chrome River Expense automatically calculates accurate mileage reimbursements based on preset rates. This removes guesswork, ensures accuracy, reduces fraudulent claims, and significantly cuts administrative workload associated with manual calculations.

Third-party Integration

Chrome River Expense seamlessly integrates with various third-party applications such as accounting software, payroll systems, travel booking platforms, and ERP solutions. This integration eliminates manual data entry errors, streamlines workflows across platforms, enhances data accuracy, and facilitates smooth data sharing among teams. Businesses can efficiently leverage existing technology investments while solving the challenge of disconnected or fragmented data processes.

Expense Approval

This feature enables managers to quickly review and approve employee-submitted expense reports through an intuitive digital workflow. Approvers receive notifications about pending expense reports, allowing them to efficiently verify compliance with company policies before approval. Automating this approval process reduces delays, improves transparency, ensures adherence to internal controls, and solves the problem of inefficient manual approval processes.

Reimbursement Management

Chrome River Expense automates reimbursement processes by allowing finance teams to track approved expenses in real-time and issue timely reimbursements directly to employees’ bank accounts. Employees gain confidence in prompt reimbursements while finance teams benefit from reduced administrative burdens, improved cash flow management, increased accuracy in payments, and enhanced employee satisfaction.

Spend Control

The Spend Control feature allows administrators to enforce company spending policies proactively by setting predefined limits and rules for different expense categories or employee groups. Alerts are triggered when policy violations occur or are about to occur, enabling immediate action or intervention. This helps organizations eliminate overspending, reduce unauthorized expenditures, minimize potential fraud risks, and maintain strict financial discipline across the organization.

Multiple Reporting Currency

With Multiple Reporting Currency support, Chrome River Expense allows multinational companies or organizations with global operations to track expenses in multiple currencies simultaneously. Employees can submit expenses in local currencies while the system automatically converts these amounts into the organization's default reporting currency using current exchange rates. This streamlines global expense management processes, simplifies financial reporting tasks across international offices, and addresses challenges related to fluctuating currency rates and complex international accounting standards.

Receipt Management

Chrome River Expense provides centralized digital receipt storage where employees can securely upload receipts directly into their expense reports from any device. Receipts are easily searchable, retrievable for audits or compliance checks, eliminating the need for physical storage space or manual filing systems. This feature addresses challenges associated with lost receipts, cumbersome storage methods, audit compliance issues, and document retrieval inefficiencies.

Receipt Scanner

The Receipt Scanner feature enables employees to quickly capture receipt images using their mobile devices’ cameras. The system then automatically extracts key information (such as date, vendor name, amount) using advanced OCR (Optical Character Recognition) technology and populates expense reports accordingly. This significantly reduces manual data entry errors and saves valuable time for employees submitting expenses—solving common challenges around accuracy and efficiency.

Bank Feed Sync

With Bank Feed Sync capability, Chrome River Expense securely links directly to corporate credit cards or bank accounts to automatically import transaction data into expense reports. Employees can quickly match imported transactions with corresponding receipts or categorize them appropriately within their expense reports. This automated syncing greatly improves accuracy in financial records while reducing manual reconciliation tasks for accounting teams—solving issues related to delays in reconciliation processes or errors due to manual entry.

Tax Claim

The Tax Claim feature simplifies tracking tax-deductible expenses incurred during business activities by clearly identifying eligible tax claims within each expense report submission based on predefined tax rules set by administrators. Finance teams can efficiently compile