The commercial card and payment solution
division of Canadian bank Bank of Montreal (BMO) has gone into a
partnership with Chrome River Technologies, an expense reporting
and invoice automation and management solutions provider.
BMO Spend & Payment Solutions will offer a
corporate card that will be linked to the expense reporting
technology of Chrome River.
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The executive managing director for BMO Spend
& Payment Solutions, Terry Wellesley, said this would provide
“deeper visibility” for corporates that travel on business, as well
as their businesses’ billing and payment departments.
“Client-billable expenses are a costly,
administrative headache; traditional, manual process is prone to
errors. That means service organizations are picking up more than
their fair share of the tab,” Wellesley said.
Alan Rich, co-founder and CEO of Chrome River
Technologies, said: “We’re anticipating that the integration that
we’ve developed with BMO Spend & Payment Solutions will
continue to evolve and grow through increased customer and partner
interaction.”
The two companies promise to offer corporate
clients reduced administrative overhead, optimised payment systems
that enable rapid expense reimbursement and enhance cash flow
management, and a corporate card as well as a mobile expense
reporting solution.
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