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Emburse launches Emburse Pay with pre-approved & policy-backed virtual cards

By Pavithra R

August 06, 2020

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Eric Friedrichsen, CEO of Emburse

Emburse, a global leader in expense management and accounts payable automation solutions, has announced the launch of the first in a series of its Emburse Pay suite of global payment solutions encompassing employee spend, reimbursement, and invoice payments.

During the initial rollout, Emburse Pay is to launch with an integrated pre-approved and policy-backed virtual cards that can be issued within the company’s Chrome River EXPENSE solution. The solution is expected to eliminate the need to review expenses retroactively by combining pre-approval of spend with smart corporate cards that enforce policy at the point-of-purchase.

For this, Users can submit pre-approval requests within Chrome River EXPENSE; once approved, the employees are issued a virtual or plastic Emburse Card. The card can be restricted to specific merchant types, approved date ranges, and requested spend amounts, delivering deep levels of control and fraud prevention. The solution removes the need for employees to use personal funds upfront while the finance team can proactively enforce company policy vs. retroactively dealing with out-of-policy spend.

“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.

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 has to create an expense report with drag-and-drop icons and submits it to the accounting solution. The company, by making expenses approved in advance and policy enforced at point-of-purchase, is aiming to eliminate the need for a time-consuming expense review process.

“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.

Founded in 2020, Emburse offers intuitive, trusted, and powerful expense management and AP automation solutions. Its solutions are designed to meet the demands of the workforce, and its technology empowers employees and keeps spending in compliance.

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