April 18, 2013
Enhanced Cost Control
Profits are important but it is not all there is to a business. An enterprise must also learn to control its costs. No matter how much profit a company makes it can all go down the drain if there is uncontrolled spending. There may be policies in place but there could also be poor implementation of policies since the one in control may not be able to quickly spot unnecessary or over the budge expense on time.
Chrome River Technologies does not claim to have reinvented the accounting system or be able to come up with cost control related policies for every company it deals with. What Chrome River provides is a software-as-a-service platform designed to make all expense transactions transparent and the information available to all concerned on real-time basis. Thus concern employees can take immediate action if anything is out of line.
With the use of new technology this Los Angeles, California-based company has taken a new approach for expense and invoice process automation. The company decided that the user’s view should drive the design and then simply allow the power of the platform to automate and control the process of the business.
Chrome River has taken a holistic approach in offering its products to clients. It involves the combination of experience, innovation and customer care which allows the company to design, build, implement and support highly effective solutions for financial workflow automation processes.
Through its collaborative cost control approach the company provides a suite of cost control modules to satisfy the needs of an organization that desires to upgrade their accounts payable workflow process and institute consistent cost control in order to increase profit.
Its products are: ChromeRiver Expense-featuring real-time spend policy monitoring and approval routing; ChromeRiver Invoice-automates and simplifies the entire invoice management process for accounts payable operations; ChromeRiver Audit- provides a secondary review process to help catch errors and eliminate the potential for fraudulent activity; and ChromeRiver Analytics-fingertips availability of expense spend analytics and key operational metrics.
Chrome River Technologies has leveraged software and technology advancements to improve existing procedures resulting in better control of expenses.