Emburse, a global leader in expense management and accounts payable automation solutions, announces the first in a series of its Emburse Pay suite of global payment solutions encompassing employee spend, reimbursement and invoice payments.
In the initial rollout, Emburse Pay launches with integrated pre-approved and policy-backed virtual cards that can be issued within the company’s Chrome River EXPENSE solution. Users simply submit pre-approval requests within Chrome River EXPENSE; once approved, the employee is issued a virtual or plastic Emburse Card. The card can be restricted to approved date ranges, specific merchant types, and requested spend amounts, delivering deep levels of control and fraud prevention. Employees no longer need to use personal funds up front, while the finance team is able to proactively enforce company policy vs. retroactively dealing with out-of-policy spend.
When an employee uses their Emburse Card, they will receive a real-time notification prompting them to capture an image of the receipt. The uploaded receipt is automatically matched with the transaction record and an expense line item is created in their expense wallet. For reconciliation, the user simply creates an expense report with drag-and-drop icons, and submits it to the accounting solution. With expenses approved in advance and policy enforced at point-of-purchase, the industry-first combination can eliminate the need for a time-consuming expense review process.
“Our mission is to humanize work by making expense and payment processes as simple as possible. We continue to innovate with a goal to deliver a completely automated process for expense submission and reconciliation, and AP payments. The new suite of global payment services will streamline and automate the entire process, from pre-approvals to payments and reconciliation. Emburse Pay will be integrated across the company’s expense portfolio,” said Eric Friedrichsen, CEO of Emburse.
“Emburse Cards within Chrome River EXPENSE enables seamless card issuing and real-time expense capabilities. Emburse Cards, combined with the ease of use of Chrome River EXPENSE, provides a great experience for the employee, approver, and finance teams alike. This is a major step in making our customers’ lives easier,” said Eric White, EVP and General Manager of Chrome River at Emburse.