Having access to travel and expense management information through Web-based software is one thing; integrating it with enterprise resource planning (ERP) and accounting applications for real-time analysis is another.
Instant access to actual spending data is the goal of ExpenseWatch, a Wayne, Penn.-based ASP that is setting out to use Web services to integrate its expense control application with enterprise software to help customers better control purchasing requests, invoices and travel and entertainment (T&E) expenses.
While the company has existed for two years, ExpenseWatch CEO Todd Palmieri told ASPnews that the company is launching in earnest now. Last month the company rolled out its Web-service based application, ExpenseWatch.com.
The ASP-delivered application is based on Generally Accepted Accounting Principles (GAAP) and is designed to exchange data in real time with Microsoft Great Plains and Lawson ERP packages, allowing companies to “manage budget vs. actual at the point of spending,” Palmieri said.
Palmieri said told ASPnews that the ASP model is well-suited to real-time expense management because traditional ERP integration strategies are costly, complex and risky for enterprise customers. ExpenseWatch can be deployed in about 30 days and costs $15 per user, per month, Palmieri said.
Earlier this week, ExpenseWatch announced that it had implemented corporate credit card transaction processing for purchases and T&E reports in the ExpenseWatch.com. As a result, customers can now route purchases made using corporate credit cards for review and approval along with all other purchases. The feature is designed to allow ExpenseWatch customers to manage budget implications of credit card purchases before the statements reach the accounts payable department.
Using the credit card processing capability, users enter transaction data from credit card statements and route the purchases through the normal ExpenseWatch customer-defined approval process.
“This is yet another example of ExpenseWatch developing new features as a direct result of customer requirements,” Palmieri said.
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