ExpenseMatters : The Source for Expense Management

TRX Creates New Expense Management Product

Business expense applicationsTRX, who has one of the leading travel technology platforms available, yields to pressure to roll-out an integrated expense platform.  While other travel technology companies such as Concur have had an expense component for years, TRX has maintained an agnostic approach to internally adding expense to their suite of products.  All indications are that they will continue partnering with leaders in the expense space such as Data Basics, ExpenseAnywhere and ExpenseWatch.  However, the reaction and results from the many expense vendors who have invested resources into their TRX relationships are yet to be seen.

ExpenseMatters has not engaged in a detail review of the TRX TRUEXPENSE product, but initial indications are that it will be a solid product backed by a very good company!   See excerpts of the original TRX press release below:

TRX Creates New Expense Management Product to Complement Robust Data Analytics and Online Booking Offerings

User-friendly TRUEXPENSE enhances spend management and reduces TCO

ATLANTA, 28 April 2010 — TRX, Inc. (www.trx.com) (OTHER OTC: TRXI.PK), a world-leading provider of travel technology, process automation, consulting and data services has introduced TRUEXPENSE™ a travel and expense reporting solution developed to enhance spend management, reduce total cost of ownership, and drive end user satisfaction. Pre-deployed to existing TRX customers, the solution was introduced today at TRX’s annual global user conference, TRX WORLD.

For more than 10 years, TRX has developed solutions that drive savings for corporate buyers. From booking and profile management to trip improvement and data analytic services, TRX has consistently focused on helping customers determine savings opportunities in their travel processes.

“TRX has a long history of delivering value to corporations seeking to gain control over their travel-related expenditures,” said Shane Hammond, president and CEO of TRX. “Based on our deep experience and years of industry research, TRX has developed an expense management solution that delivers unparalleled ROI and makes it possible for companies to control spend with minimal effort and maximum results.”

TRUEXPENSE appeals to chief financial officers and other corporate administrators of expense management platforms by improving visibility into corporate travel and entertainment expenses which, in turn, helps companies more effectively manage travel and expense reporting processes. In addition, the rapid implementation process makes it possible for users to benefit from the solution in days, not weeks.

Companies can easily integrate TRUEXPENSE, which includes ancillary fee capture, into their existing accounting and ERP systems. TRUEXPENSE also includes a mobile application designed specifically for iPhone and Blackberry mobile devices, which enables users to upload receipt images into the expense reporting software. This eliminates the need for users to keep track of receipts for long periods of time.

Because paper receipts no longer need to be passed between departments, companies can reduce storage costs. Moreover, by storing original documents in one digitized source file, TRUEXPENSE simplifies auditing and SOX compliance processes.

“TRX has more than 20 utilities that address the inherent challenges within the travel procurement life cycle, so delivering a comprehensive, user-friendly expense report vehicle was a natural progression for us,” Hammond stated. “We’ve managed billions of data records over the past decade which gives us a distinct advantage in understanding the nuances of travel data and providing value-added solutions to our customers.”

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