BOSTON, MASS., July 23, 2007 - Concur (NASDAQ: CNQR), the world's leading provider of on-demand Employee Spend Management services unveiled the next generation of travel and expense management featuring Smart Expense™. This industry-first innovation completely shatters the notion of the traditional expense report. With Smart Expense, Concur enables business travelers to book their trip and enjoy virtually automatic processing of their expense reports. Available exclusively from Concur, Smart Expense is available to all Concur® Travel & Expense clients at no additional charge.
Concur is the only provider to completely unify travel booking and expense reporting into one seamless process. Concur is also the only provider that takes advantage of e-receipts – complete, live, electronic data that contains the entire record of a supplier transaction including folio data that looks exactly like the supplier’s traditional paper receipt. Through the power of Smart Expense, Concur automatically gathers and reconciles all electronic data generated during the course of business travel.
The click that books the reservation begins the reporting process. Concur Travel & Expense works for the traveler to automatically fill in the details with matching corporate card and vendor folio data as travel occurs. Now for the first time, the three trusted sources of expense information – itinerary data captured at the time of booking, corporate card charges incurred by the employee and e-receipts captured directly from the supplier – can all be easily reconciled within one seamless travel and expense management process.
When all three sources of data match, Smart Expense takes these trusted transactions and automatically completes the expense report. For the vast majority of transactions, Concur virtually eliminates the need for employees to edit – or companies to audit – an expense report. With Concur, expense reports can be automatically completed, audited, and paid – all within corporate policy – with very little need for human intervention.
“Concur has launched a completely new era in managing corporate travel expenses. For business travelers, Concur Travel & Expense 2.0 with Smart Expense virtually eliminates the process of filing an expense report,” said Rajeev Singh, president and chief operating officer for Concur. “And for the back office, Concur is dramatically reducing the number of transactions that need to be audited. This can only be achieved through the real-time interface between travel booking and expense reporting systems, something that only Concur is delivering. While others debate the merits of integration, Concur is delivering One Touch Business Travel™ that truly takes the pain – and expense – out of expense reporting.”
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