Track expenses, and reconcile card statements with a single solution
Chrome River STATEMENTS is a solution jointly created by Chrome River and U.S. Bank to help organizations better manage their card program reconciliation.
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Challenges of traditional card programs
Corporate card programs can be a helpful tool in helping organizations control travel and expense spend. However, traditional card programs often lack deep integration into expense management programs, 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 program, which can delay expense submission by introducing another manual step. For administrators, reconciliation between the card statement and expense report 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 organization, allowing them to bypass these challenges.
Organizational 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-organizational 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 program 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
Features
- Streamlines card reconciliation with expenses.
- Improves administrator visibility across cardholders.
- Direct integration of U.S. Bank card statements into Chrome River EXPENSE.
- Combines with Chrome River DIRECT PAY for card payments.
You guys really are the best. You're the best support out there. I know whenever I have a question I can send it to you and I'll get a great answer with the solution that makes sense to me.
Chrome River has made my life so much easier approving expenses. We love it!
