Chrome River STATEMENTS

Challenges of traditional card programmes

Corporate card programmes can be a helpful tool in helping organisations control travel and expense spend. However, traditional card programmes often lack deep integration into expense management programmes, and therefore don’t offer the transparency that card administrators require to ensure prompt allocations, submissions and payments.

For the cardholders, there can be a lack of visibility of how card transactions tie to bank statements in their expense solution, which can delay expense submission by introducing another manual step. For administrators, reconciliation between the card statement and expense claim is a manual process, again, slowing down the approval and payment process. A lack of visibility of what has and has not been accounted for can also introduce further delays and inaccuracies into the process.

Chrome River STATEMENTS delivers wide-ranging benefits across the organisation, allowing them to bypass these challenges.

Organisational benefits

• Mitigate the risk of fees and late charges
• Manage to a statement cycle while allowing employees to expense and be reimbursed on a more frequent basis than once per month
• Combine with Chrome River DIRECT PAY to remit payments for approved charges to the card account

Card administrator benefits

Chrome River STATEMENTS gives card administrators deep visibility into both individual and cross-organisational card usage, allowing them to better manage spend and increase expense policy compliance. Chrome River STATEMENTS enables administrators to:

• Gain visibility across all cardholders and status of transactions
• Easily communicate with cardholders with un-expensed transactions to act on open items
• View the overall card programme statement
• Manage across multiple travel and expense and P-card programs

Cardholder benefits

Chrome River STATEMENTS reduces the administrative burden for cardholders by making it more straightforward for them to track, reconcile and expense charges made on their U.S. Bank cards. Benefits for cardholders include:

• Group transactions and easily address any un-expensed charges in a cycle
• Gain statement visibility across all transactions
• View the actual cardholder statement in Chrome River EXPENSE