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June 27, 2012updated 04 Apr 2017 4:14pm

BMO Spend & Payment Solutions ties knot with Chrome River for expense management

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 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.

By Verdict Staff

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.

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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