Now that the dust has settled on 2016 and we’re full speed ahead in 2017, I want to take a minute to reflect on where we’ve come over the past year. It’s fair to say that 2016 was an interesting year, both in the U.S. and overseas. One constant, however, is that Chrome River has continued to deliver high-quality, innovative and value-generating solutions for our almost 600 customers across the globe.
Last year saw us increase our customer count by more than 30%, from regional non-profits to major, global Fortune 500 organisations. We signed a broad range of exciting new partnership and technology integration agreements, ranging from travel leaders such as Sabre and Amadeus, to organisations like Uber, which has quickly become an integral part of many business travellers’ trips.
As a result of our continued growth, our users submitted more than 5,000,000 expense claims in 169 currencies, and were reimbursed in 71 currencies. We are undeniably a major global player.
Some of the commercial highlights include:
- Increased revenues and customer count by more than 30% over prior year, signing new global customers across four continents
- Opened Asia-Pac sales, service and support presence in Sydney, Australia
- Increased FTE headcount by more than 25% to drive product innovation and customer success initiatives
- Appointed as exclusive expense software partner for higher education ERP vendor Ellucian
- Expanded Los Angeles headquarters by adding a further 15,000 square feet of state-of-the-art office space
Of course, we also continued to deliver groundbreaking new innovations and features for our expense and invoice management solutions. From our new MERCURY interface, which provides a seamless user experience across any mobile device, to automated hotel folio parsing and the most intelligent optical receipt processing technology in the industry, it’s been a busy year.
Technical highlights from 2016 include:
- Launched MERCURY fully-mobile web application to provide full-featured, app-free access to Chrome River EXPENSE on mobile devices
- Launched Chrome River FOLIO to streamline hotel folio expense submission
- Launched a new datacenter in Europe to serve global customers
- Achieved ISO 27001 information security standard
- Doubled the number of languages offered in Chrome River EXPENSE, to 25
As you can see, 2016 was an outstanding year on all fronts for Chrome River, and we are honored that you continue to place your trust in us. We have a strong pipeline of new developments for 2017 to make your travellers’ and back office team’s lives more hassle-free, and we look forward to sharing these with you over the course of the year. We are excited about what the next 12 months and beyond will bring for Chrome River and hope that you share our enthusiasm.
- IDC Recognises Chrome River as a Leader in Enterprise AP Automation Solutions
- 9 Signs it’s Time to Switch Expense Management Systems
- Gartner and Ardent Partners Advise How to Build a Best-in-class Accounts Payable Operation
- When Cash (Control) is King: Is Your Accounts Payable Strategy Optimised for a COVID-19 World?
- Getting the Most Out of Your Spend Data with Emburse Insight Advisor
Our choice of Chrome River EXPENSE was made in part due to the very user-friendly interface, easy configurability, and the clear commitment to impactful customer service – all aspects in which Chrome River was the clear winner. While Chrome River is not as large as some of the other vendors we considered, we found that to be a benefit and our due diligence showed that it could support us as well as any large players in the space, along with a personalized level of customer care.
We are excited to be able to enforce much more stringent compliance to our expense guidelines and significantly enhance our expense reporting and analytics. By automating these processes, we will be able to free up AP time formerly spent on manual administrative tasks, and enhance the role by being much more strategic.