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May - 2015 - issue > 20 Most Promising Enterprise Software Providers
ExpenseAnywhere: End-to-end Automation Solutions for Complete Travel and Expense Management
SI Team
Tuesday, May 5, 2015
In the digitally empowered world, the corporate executives demand applications that are easy-to-use, provide instant access to data, and intelligently perform multi-dimensional analytics for making right choices. The demand for increased bandwidth and the rate at which the data is delivered is going to be a constant challenge for corporate IT managers. "Gone are the days when users waited for the computer to respond. The User patience is now measured in milliseconds," says Dr. Ashok Dhar, President and CEO, ExpenseAnywhere. The cloud-based technology is advancing at a breakneck speed and moving applications to the "cloud" is the mantra of the times. Cloud is where all the innovations are taking place. It becomes easier to build, test and deploy applications in the cloud, or perform cloud-to-cloud integrations to deliver highly integrated, versatile and cost effective solutions.

ExpenseAnywhere approaches this speed-frenzied generation with their cloud-based, mobile-enabled, end-to-end automation solutions for the entire travel and expense and accounts payable management processes. "We provide high-value products and total turnkey solutions that unleash efficiency, automate processes, and help businesses control their spending and stay green," remarks Dr Dhar. He further added, "Our products primarily address areas of corporate spend, where we have two distinct products, one for the management of travel and expenses and the other for the automation of supplier invoices."

Usually when an employee sets up to travel, it involves the need to create a request for travel, get it approved, book the travel, and then collect all the receipts for the expenses incurred during the trip, submit the report and be reimbursed. "The whole process is manually intensive and extremely time-consuming and error-prone and expensive," says Dr. Dhar. The company's ExpenseAnywhere flagship product is one of the top two global products, and provides a fully integrated travel and expense management solution that automates the entire process from the pre-travel authorization, to booking travel, to reimbursement for expenses. The ExpenseAnywhere solution automatically validates the travel itinerary data with the corporate card charges and expense receipts, utilizes its advanced receipt matching and audit technology to audit and validate each and every expense against the company's policies to generate the expense report ready for traveler's review and submission. The solution also automates the payments on behalf of the company to the employee's corporate cards and bank accounts, remarks Dr. Dhar. Additionally, through ExpenseAnywhere Mobil App users can create and enter expenses, take pictures of the receipts and submit them, while their managers can instantly approve the reports making it even easier and faster for all.

ExpenseAnywhere comes with over sixty-four (64) interacting modules, like the Credit Card module that is integrated to automatically process transactions data from American Express, Visa or MasterCard, Foreign Currency module that converts foreign currency charges to local currency, Languages module to support all the global languages, the online travel booking Module that automatically captures the travel booking data on flight, hotel, car, and rail to populate the travel authorization request for approval of total trip cost," says Dr Dhar. The ExpenseAnywhere solution provides a significant ongoing return on investment with increased overall operational efficiencies.

In one instance, one of ExpenseAnywhere's Government clients with over 10,000 employees was facing a constant challenge in managing the paper-based employee travel expenses. The client required multi-level pre-travel approvals, and with complicated state travel policies and regulations and per diem rules that vary based on time and places of travel. The process of verifying expense reports was time-consuming, arduous and often frustrating, and with limited reporting capability. After ExpenseAnywhere implemented their system, the entire operation was centralized and totally automated and integrated with the State Controller's Office for payment, along with a complete reconciliation of travel cards, policy enforcement and enhanced operational efficiency.

With the demand for products like ExpenseAnywhere from clients across USA and the globe, the company is situated for significant growth. ExpenseAnywhere has expanded its operations to Europe and India and has set partnership relations with a number of leading companies in different markets for its growth. The Company has recently announced a partnership with Thomas Cook, India Ltd and released ExpenseAnywhere Portal, the first and only holistic travel and expense management automation solution designed to meet the needs of Indian companies. For the North American market, ExpenseAnywhere has partnered with Orbitz for Business and GetThere a Sabre Solution.

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