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Expense Industry Updates for February 2015

By on March 9, 2015 in General with 0 Comments

During the month of February, the expense management field experienced a wealth of new introductions and several items of big news.

Industry News

Coupa Redefines Mobile Expense Management

http://www.businesswire.com/news/home/20150219006591/en/Coupa-Redefines-Mobile-Expense-Management#.VO_tkfnF82s

Coupa Software, recognized as a leader in cloud-based spend management solutions, announced the release of a state-of-the-art mobile expense technology that will offer social computing and the ability to record expenses in real time.

PEX Visa Prepaid Card and Tallie Launch Integrated Expense Management Solution

http://finance.yahoo.com/news/pex-visa-prepaid-card-tallie-130000982.html;_ylt=AwrBT9tn7e9UO80A7ohXNyoA;_ylu=X3oDMTByMjB0aG5zBGNvbG8DYmYxBHBvcwMxBHZ0aWQDBHNlYwNzYw–

Through a joint solution between Tallie and PEX Visa Prepaid Card, the funding and process of business expenses is now simplified, allowing for improved spending control and increased financial visibility.

Telecom Expense Management Firm Asentinel Acquired by Marlin Equity Partners
http://www.14news.com/story/27825899/telecom-expense-management-firm-asentinel-acquired-by-marlin-equity-partners

Marlin Equity Partners, a global investment firm, acquired Asentinel, LLC, a provider of telecom expense management software.

Expensify SmartScan Making Paper Receipts Obsolete

http://smallbiztrends.com/2015/02/expensify-smartscan.html

Expensify is helping reduce clutter and the potential for losing receipts by introducing a new SmartScan feature to its current mobile app, giving business owners and employees the chance to enter receipts faster and more efficiently.

Audit Reveals Violations in Travel Policy Among Charlotte City Executives

http://www.wsoctv.com/news/news/local/report-top-city-employees-overcharged-trips-lack-o/nkHBN/

An internal audit conducted in Charlotte, North Carolina, revealed violations among top executives’ travel during the 2013 fiscal year, stemming from overcharging the City of Charlotte for upgrades and trips.

Traveldoo and Conferma Partner to Offer New TEM Integration

http://www.businesstravelnews.com/Expense-Management/Online-travel-and-expense-management-tool-provider-Traveldoo-has-integrated-virtual-payments-provider-Conferma-into-its-platform/?ib=Technology&a=mgmt

Traveldoo, a travel and expense management tool provider, has integrated Conferma, an integrated virtual payments provider, into its platform, giving travelers the ability to generate one-time virtual card numbers at the time of booking.

Concur and Starbucks Partner to Provide Easier Expensing and Rewards

http://www.marketwatch.com/story/concur-and-starbucks-enable-effortless-expensing-and-rewards-for-business-spend-2015-02-19?mod=mw_share_twitter

Concur and Starbucks recently announced a partnership resulting in an e-receipt solution to make it easier for business travelers to enter expenses when making purchases at Starbucks locations.

Happay Introduces New Visa Card to Automate Expense Reporting Process

http://www.pymnts.com/news/b2b-payments/2015/happays-new-visa-card-app-automate-expense-reporting/#.VPYU6vnF82s

Happay, an India-based startup, has partnered with RBL Bank to launch a business credit card that helps automate and organize the expense reporting process.

Spendvision Rebrands to Become Fraedom

http://www.fraedom.com/resources/82/spendvision_becomes_fraedom

Spendvision, a leader in travel, expenses, and payments technology, announced it will now be known as Fraedom as part of a rebranding effort to provide companies with a better method for managing business spend.

New Startup AppZen Utilizes Artificial Intelligence System to Combat Fraud in Expense Reports

http://techcrunch.com/2015/02/04/niche-to-win/

A new startup, AppZen is utilizing artificial intelligence to detect fraudulent charges for groceries, lunches with friends, and more in expense reports, resulting in audit time savings and fewer fraudulent charges.

Studies and Reports

Travel Expenses May Not Be Legitimate, According to New Study

http://www.cfodailynews.com/14022/

A new study released by Certify finds that a large percentage of travel and entertainment expenses are in violation of corporate policies.

Report Reveals Growth Trends and Roadblocks in Telecom Expense Management Industry

http://call-accounting.tmcnet.com/articles/397471-report-reveals-growth-trends-roadblocks-telecom-expense-management.htm

A new report released by Transparency Research shares trends in the telecom expense management market, including improved customization among verticals.

Vendor Press Releases

Oversight Systems Introduces Mileage Insight for T&E Expense Audit Software

http://www.prnewswire.com/news-releases/oversight-systems-adds-new-mileage-insight-for-te-expense-audit-software-300040061.html

Oversight Systems has announced the release of a Mileage Insight to Oversight Insights on Demand for the T&E Industry that will assist in identifying abusive or duplicate mileage expenses on mileage reports.

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