Monday, August 22, 2011

ExpenseAnywhere Unveils Enhanced Recognition Technology (OCR) for Receipt Validation

OCR Receipt Validation automatically verifies expense receipts providing even higher ROI with increased operational efficiencies.

August 22, 2011 — In the field of travel and expense management automation, new technology is central to generating increased ROI for client companies. The management and automatic linking of receipts, whether scanned or faxed, to specific expense reports in automated expense management systems has gained significant acceptance as it helps to maintain a paperless environment and further streamline the traditional processes associated with the submission of expense receipts.

ExpenseAnywhere is a company making significant technological advancements in the field of Travel and Expense Management automation. The firm recently introduced Enhanced Recognition Technology, OCR software, as part of their automatic receipt imaging service that takes receipt imaging and verification to an entirely new level. ExpenseAnywhere solution with its OCR functionality now allows auditors, approvers, and users to easily and instantly view the specific receipt associated with each expense item entered into an expense report. No more frustration and countless wasted hours in finding the right receipt from pages and pages of digital receipts that may be attached to an expense report. ExpenseAnywhere solution automatically identifies and validates receipts so the reviewers can speed through their verification process.

ExpenseAnywhere, with its intelligent OCR capability, is the first to offer such distinguishing functionality. It can help companies achieve an even higher–level of accuracy in review and audit of expenses at only a fraction of the cost. This feature alone provides companies with increased ROI and phenomenally improved operational efficiency, resulting in speedier processing of expense claims. Clients utilizing the OCR capability of ExpenseAnywhere solution have claimed upwards of 80% automatic matching of receipts to expense items. ExpenseAnywhere continues to invest in R&D to increase the accuracy of its OCR matching algorithms.

In addition to the new OCR capability, ExpenseAnywhere continues to give their users the ability to quickly upload receipt images directly to their expense reports via fax, e-mail, mobile and scanners. Mobile users also have the distinct ability to capture and upload images of receipts using their camera phone while on the go…perfect for any business traveler.

ExpenseAnywhere OCR is available in all three of the expense management solutions offered by the company (ExpenseAnywhere–Lite, ExpenseAnywhere–Enterprise, and ExpenseAnywhere–Gov) and can be tailored according to each customer's specified requirements.

In addition to newer developments with receipt imaging, ExpenseAnywhere users are now empowered to use mobile apps for Blackberry, iPhone, and Android to enter, submit and approve expense reports. Furthermore, the company has recently introduced two new modules for Budgeting, and Auditing with its ExpenseAnywhere solution — to help customers better control their corporate spend. The Budgeting Module allows CFOs and cost center managers to set and assign expense budgets and monitor expenses against the budget, while the Auditing Module provides auditors with an enhanced ability to set audits and auditing controls for conformity with SOX and other regulatory compliances to further mitigate risk and fraud.

Wednesday, August 17, 2011

Five Star Quality Care Implements ExpenseAnywhere for Expense Management Automation

August 17, 2011 — ExpenseAnywhere announced that it has recently implemented ExpenseAnywhere-Enterprise solution to automate the travel and expense management at Five Star Quality Care, Inc.

Five Star Quality Care, Inc. is a national healthcare and senior living services provider. They have three major operating divisions: Five Star Senior Living, Five Star Rehabilitation Services, and Five Star Pharmacy Services.

Five Stars Senior Project Manager, Zehra Abid-Wood, explains that "While Five Star had undertaken an expense automation project during the previous year, they were eager to make the switch to ExpenseAnywhere in the interest of improving both user experience and auditing/compliance capability. The responsiveness of ExpenseAnywheres implementation team ensured delivery of their customized solution and rollout occurred smoothly and on schedule."

"We are glad to welcome Five Star Quality Care amongst our growing roster of clients," said Dr. Ashok Dhar, President and CEO of ExpenseAnywhere. Dr Dhar further added, "It is particularly encouraging that after a thorough analysis of various T&E products, Five Star selected ExpenseAnywhere to provide a faster and more comprehensive solution."

ExpenseAnywhere–Enterprise is a cloud-based, robust expense management automation solution providing superior user interface and designed for the entire expense management process. For Five Star Quality Care, the system supports multi–tier approval workflow; expense allocation to appropriate business units; integration and reconciliation of corporate cards, integration with PeopleSoft solution to eliminate data entry and with MapQuest for easy and accurate computation of mileage reimbursement; automated and accurate receipt management; and analytical tools for spend management and control.

ExpenseAnywhere has already provided Five Star with substantial efficiency gains and employee satisfaction evidenced by their positive feedback on both system performance and analytical capabilities.

About Five Star Quality Care
Five Star Senior Living is an operating division that includes more than 200 Independent Living and Assisted Living facilities, Skilled Health Care facilities, and Continuing Care Retirement Communities. Five Star is headquartered in Newton, MA.