Conshohocken, Pa., Aug. 11, 2009 – ExpenseWatch.comTM is partnering with EgenciaTM, the fifth largest travel management company in the world, to provide a comprehensive, fully integrated travel and expense management system. The combined solution will be demonstrated at the National Association of Business Travelers International Convention and Expo in San Diego Aug. 23-26.
Using ExpenseWatch.com and Egencia, companies can integrate their online travel management program and best-of-breed expense control system to create an end-to-end solution encompassing pre-trip approvals through to expense report reimbursement. Company spending policies and controls are automatically applied throughout the entire process, significantly reducing the opportunities for out-of-policy spending and fraud.
The ExpenseWatch.com and Egencia travel and expense management system speeds expense report creation for traveling employees. Employees book travel through Egencia’s leading self-booking platform where corporate-defined policy is enforced through powerful tools and all data is fed into a real-time global reporting system. At the same time, corporate credit card and travel booking data flows into ExpenseWatch.com and users are notified that travel itineraries and/or credit card charges are waiting to be put onto an expense report.
ExpenseWatch.com offers filers the flexibility to create an expense report the way they want. Data that feeds into ExpenseWatch.com is presented in up to three ways—as separate credit card charges and/or travel bookings, and as linked items, where the system automatically associates credit card transactions to booked itineraries. Any of these items can be dragged onto an expense report to enter the expense. Cash transactions are easily added to expense reports and receipts can be scanned, photographed or faxed and attached to the top of the report or with each line item entered.
As expense reports are created, company spending policies are applied. Tolerance levels for out-of-policy spending can be set according to company preference and culture. The configurable policy enforcement options range from allowing an expense report to be routed for approval with indicators of what is out of policy, all the way to not allowing a report to be routed until a transaction has been changed to align with company spending policy.
ExpenseWatch.com accounts for the dynamic nature of business travel and keeps a running tab of booked versus expensed travel for the life of each expense report. Expense report filers, approvers and accounting reviewers can see at a glance the anticipated expense for hotel, airfare and car at the time travel was booked, compared with the actual amounts being submitted for reimbursement for those same items, helping to prevent fraud and out-of-policy spending.
Because ExpenseWatch.com is an open expense control platform, companies can set up multiple travel management systems within their expense control program. The integration of Egencia with ExpenseWatch.com is expected to be generally available early in the fourth quarter.
ExpenseWatch.com offers best-of-breed modules for Expense Reports, Purchasing and AP Invoice Management which provide for complete control and visibility into all company spending. Modules can be subscribed to individually to control specific company spending issues, or as a fully integrated expense control suite. Companies have the flexibility to integrate spending data with a wide range of business solutions used—travel management tools, accounting/enterprise resource management systems and payroll providers, credit cards, budgeting applications, customer relationship management systems, ecommerce vendors and more. Annual subscriptions include implementation—which takes about a month—training, support for all users and usage analysis. For more information call 1-866-399-2824.
Egencia, an Expedia, Inc. company, is the fifth largest travel management company in the world. As part of Expedia, Inc., (NASDAQ: EXPE), the world’s largest travel marketplace, Egencia helps business get ahead with a complete corporate travel offering supported by best-in-class online and offline service, and global market expertise. With real-time availability of data and customizable reports that are integrated globally, Egencia is committed to helping increase efficiencies and savings by giving its customers more insight and control over their travel program. Visit: www.egencia.com
© 2009 ExpenseWatch.com. All rights reserved. ExpenseWatch.com is a trademark of ExpenseWatch, Inc. Egencia is a registered trademark of Expedia, Inc. in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners. CST #: 2083922-50.
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