American Express releases electronic expense report software with promotional pricing offer "Expense Manager" lightens expense report chore for corporate travelers; eliminates redundant data entry in accounting department

Business Wire, June 10, 1996

NEW YORK--(BUSINESS WIRE)--June 10, 1996--American Express Corporate Services, the leader in corporate travel cards, today announced that it is aggressively launching its electronic expense reporting software package, Expense Manager, into the corporate market with a strong incentive offer.

The software, which has been road-tested by a number of major corporations since last August, is being introduced with a discount for companies that enroll employees by the end of 1996.

"We want to help Corporate America put paper expense reports on the endangered species list," said Ed Gilligan, President, Corporate Services. "Travelers have been clamoring for this kind of software, but until now, companies have had a hard time finding a solution that met both corporate goals and their employees' needs. Early, off-the-shelf solutions have been inflexible or costly or both."

Expense Manager offers three primary benefits: It dramatically reduces the time travelers spend preparing expense reports; it allows companies to automatically feed data into accounting systems, speeding reimbursement and processing time; and it gives companies a rich database of information on travel spending. Plus, expense reports are more accurate because the data comes straight from actual charge card transactions -- with no manual re-entry.

The software is loaded on a business traveler's PC or laptop, and an e-mail connection imports that individual's most recent Corporate Card charges. Because American Express designed the software, it can decipher the charge data codes and automatically sort each expense into the appropriate category. The system is accessible any time, even while an employee is on the road.

"Corporate America is keen for a solution that simplifies life for their over-worked road warriors," said Gilligan. "Expense Manager liberates corporate travelers from the dreaded task of completing expense reports and is ideal for those virtual office or mobile employees whose PCs function as their entire support staff."

The real power of Expense Manager, however, comes in streamlining the paper-heavy expense processing cycle, Gilligan noted. "Expense report processing is ripe for reengineering. Over 75 percent of companies surveyed by American Express reported that late expense reports and incomplete documentation are a problem, and 62 percent complain that auditing expense reports is a headache."

Competitive Pricing

Companies that enroll employees through the end of 1996 will benefit from very competitive introductory pricing. Through year-end, American Express will waive the software licensing fee, which normally runs $7 - $20 per user, depending on the number of users. Companies will pay only the $5/$10 per user annual maintenance fee and a one-time custom set-up charge of $2,500. (Annual fee depends on whether user accesses data via the Internet or another gateway.)

The set-up fee covers the cost of creating customized electronic expense reports as well as installing a company's unique travel policy in the software. In the third quarter, a user-friendly System Administrator module will enable companies that wish to do their own customization eliminate the $2,500 fee.

Modular Approach Offers Flexibility

Expense Manager's modular approach offers companies flexibility as they enter the electronic workflow environment. The basic Expense Manager set-up includes the expense reporting software and the Expense Manager Approver module. Companies merely need PCs linked to a Windows- compatible e-mail system with external communications capabilities (x.400 gateway or Internet).

The Expense Manager Approver module enables companies to route reports automatically to employees' managers for approval and then on to the accounting department. But expense reports may be output to a printer if a company isn't ready to eliminate paper entirely, or if a company is taking a phased approach to automation. An additional module to be released in August, Expense Manager Auditor, will automate the auditing process, and ExpensePower, due in the fourth quarter, will create a database for travel managers to turn expense report data into a powerful negotiating tool.

Later this summer, companies will have the further option of combining Expense Manager with the popular FormFlow application from Symantec's Delrina Group to develop more complex and customized workflow solutions. American Express has also signed an agreement with leading electronic forms systems integration specialist, Wallace Computer Services, to help companies customize the FormFlow option.

About American Express Corporate Services

American Express Corporate Services, which includes the American Express Corporate Card, Corporate Purchasing Card and Business Travel Services, assists companies in managing and controlling their business travel and administrative expenses. American Express Corporate Services counts among its clients more than 72% of the Fortune 500, as well as the largest client base of small and medium-sized companies of any corporate card issuer or travel agency in the U.S.