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Chrome River Announces Record Revenues and Global Customer Growth for 2016
[February 02, 2017]

Chrome River Announces Record Revenues and Global Customer Growth for 2016

Chrome River Technologies, a leading provider of expense management and supplier invoice processing software, today announced record revenues for 2016, as well as its highest ever sales quarter in the final quarter of the year.

Chrome River increased its customer count by more than 30% year over year, across North America, Europe, the Middle East and Asia-Pacific, signing organizations including Sonoco, Sabre Corporation and West Virginia University. The company also saw significant traction with partners, signing new sales and technology alliances in areas ranging from travel booking tools to VAT recovery and hotel folio data extraction.

Commercial highlights:

  • Increased revenues and customer count by more than 30% over prior year, signing new global customers across four continents
  • Opened Asia-Pac sales, service and support presence in Sydney, Australia
  • Increased FTE headcount by more than 25% to drive product innovation and customer success initiatives
  • Appointed as exclusive expense software partner for ERP vendor Ellucian
  • Secured preferred partnerships for expense management with travel technology industy leaders Sabre and Amadeus
  • Expanded Los Angeles headquarters by adding a further 15,000 square feet of state-of-the-art office space

Technical highlights:

  • Launched MERCURY fully-mobile web application to provide full-featured, app-free access to Chrome River EXPENSE on mobile devices
  • Launched Chrome River FOLIO to streamline hotel folio expense submission
  • Announced new and expanded integration partnerships including Amadeus, Sabre (News - Alert) and Uber
  • Launched a new datacenter in Europe to serve global customers
  • Achieved ISO 27001 information security standard
  • Doubled the number of languages natively offered in Chrome River EXPENSE, to 25

"Chrome River continued its strong momentum in 2016 across every aspect of the company - customer acquisition, product enrichment and operations," said Alan Rich, co-founder and CEO of Chrome River. "We signed a record number of customers, including several Fortune 500 organizations, more than 40 education institutions, and reinforced our position as the dominant expense management player in the professional services industry.


"We continued to invest heavily across all areas of the business, ensuring that our solutions remain at the forefront of the technology, our customer satisfaction rate stays at an industry-leading 97%, and ensuring we hire and retain the best staff in the industry. Twenty-sixteen was the most successful year for Chrome River across every metric, and I am confident we have laid the foundations to repeat this in 2017."

About Chrome River

Chrome River Technologies, Inc. lets business flow for some of the world's largest and most respected global organizations. Our highly-configurable cloud-based expense reporting and supplier invoice automation solutions deliver an elegant and intuitive user interface, which offer the same high quality experience on a smartphone, tablet or laptop. Our SaaS (News - Alert) products provide a world-class business rules engine and technology infrastructure, combined with a completely agile solution that supports today's changing business climate, and that the CFO, AP and travel managers, and business travelers will all love.

To find out why Chrome River is trusted by more than 1 million users at almost 600 organizations worldwide, contact us at +1 888 781 0088 or visit us at www.chromeriver.com, or on Facebook, Twitter and LinkedIn.


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