Automated Invoice Module Launched By CHRIMS, InCompass

(edited press release)
An automated invoice module is the latest innovation launched by racing application service provider CHRIMS and InCompass Solutions, the Jockey Club's racing office and horsemen's bookkeeper vendor, it was announced Wednesday.

Developed by CHRIMS (Comprehensive Horse Racing Information Management Systems), the module automatically generates settlement invoices for each of a host track's receiving sites, information based on the detailed breakout and balance of its all-sources handle, which is complete by the morning after a race card. The new system was tested during Keeneland's spring meet and The Red Mile's fall meet.

"Hundreds of licensed and regulated outlets around the world accept wagers on the Keeneland simulcast signal, and to know by the following morning where we stand with each of them and to have the ability to produce invoices for each at the click of the mouse is a tremendous time-saver," Jessica Green, treasurer of the Keeneland Association, said in a news release.

The service utilizes standardized and proprietary data processing systems to provide a comprehensive array of management and accounting reports that show information about handle, simulcast fees and takeout distribution calculations for live handle, outbound simulcast handle and inbound simulcast handle.

The CHRIMS system was the first pari-mutuel wagering data processing system in the country to provide comprehensive simulcast settlement services to the industry. It has been in use at every pari-mutuel facility in California since 2000, with information processed and archived back to 1986; at Gulfstream Park and Keeneland since 2001; at Tampa Bay Downs since December 2005; and at The Red Mile since July.

CHRIMS, a non-profit company jointly owned by simulcast wagering companies in California, was launched in 1990 to track all-sources handle on California races and provide automatic breakouts of where each wagered dollar should be directed.

InCompass provides services that incorporates more than 80% of the live racing days and 90% of the total handle in North America.