Momentum from Successful 2010 Continues to Swell for Chrome River

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Significant growth of customer base for new expense report and invoice automation applications propel Chrome River forward at remarkable pace

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We are not just modernizing the expense and invoice management process, we allow customers to save money by improving productivity, increasing control over their expenses and increasing cash flow...

Chrome River Technologies, Inc., a leading provider of expense reporting and invoice automation, announced that 2010 marked a year of exponential growth across all aspects of the business which included nearly doubling its customer base and building momentum that continues to surge into 2011.

This remarkable growth confirms Chrome River’s emergence as a contender in the expense management industry and further solidifies the tangible need for automated solutions. With initial online offerings launched in 2008, Chrome River has enjoyed a rapid rate of adoption, nearly doubling their customer base in 2010 and finishing the year strong with 14 new customers subscribing to its services in the month of December alone. Due to the service’s unprecedented ease-of-use and tremendous configurability that is designed to meet even the sophisticated requirements of the legal and professional services industries, Chrome River wrapped up 2010 counting 30 of the AmLaw Top 100 law firms as customers. This growth includes new customers across a variety of industries and adoption in the United Kingdom, Canada and Australia.

“We are extremely pleased with all of the momentum that continues to build around our EXPENSE and INVOICE solutions,” said Dave Terry, Co-founder and COO of Chrome River. “We utilize the latest technologies which allow us to deliver unique offerings to our customers. We are not just modernizing the expense reporting and invoice management process, we allow customers to save money by improving productivity, increasing control over their expenses and increasing cash flow while at the same time providing a direct and important benefit to end users.”

In 2010, Chrome River expanded their Software as a Service offerings with the introduction of two new expense management applications. In June, Chrome River ANALYTICS was announced, an innovative report-generating solution that delivers real-time insights and comprehensive expense spend analysis via a powerful business intelligence platform. In October, implementation of the new Chrome River INVOICE solution began in a limited rollout which continues to increase in size as the original early adopter customers and others go live. The Chrome River INVOICE application automates and simplifies the entire process for accounts payable operations with a streamlined and configurable interface that quickly accepts all invoices and check requests across the organization and reduces paper handling.

About Chrome River
Chrome River Technologies, Inc. provides expense reporting and invoice automation solutions that uniquely combine the latest available internet technologies with over 25 years of financial systems experience. Chrome River delivers immediate payback via a “Software as a Service” delivery model that requires no hardware, no software, and no long-term commitment. This unique service is easily configurable to meet the needs of organizations worldwide with complex expense management policies and collaborative approval processes. Additional information about Chrome River Technologies, Inc. and its solutions may be obtained by phone at 1.888.781.0088 or by visiting the company website at http://www.chromeriver.com.

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Julie Davis
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