PITTSBURGH/EWORLDWIRE/Nov. 12, 2003 --- Virtual Communications, Inc. (VCOM), announces that its Internet based Expense Management Automation System, ExpenseAnywhere(R) Release 5.0 is now fully integrated with PeopleSoft(R) and can now be readily, and cost-effectively used by organizations using PeopleSoft software. ExpenseAnywhere totally automates the process of managing business expenses. As a best practices solution, ExpenseAnywhere gives business travelers the ability to enter and submit expense reports over the Internet/ Intranet, and instantly delivers them to their managers for approval, and then to accounting for audit, payment processing and general ledger posting. ExpenseAnywhere seamlessly integrates with corporate ERP systems, corporate charge card providers, and company's banking system for direct EFT payments to their travelers. Additional features include: attaching scanned receipts to expense reports upon submission by users, or appending them to the appropriate expense reports in a centralized environment, for paperless maintenance; offline entry of expense reports using ExpenseAnywhere-offline with automatic data synchronization once Internet connectivity with the web-server is established; pre-trip authorization and travel-desk connectivity.
"ExpenseAnywhere provides significant bottom-line improvements, year-after-year to our clients and has helped them improve their efficiency and productivity," says Dr. Dhar, President & CEO of VCOM.
Dr. Dhar further added, "The integration of our ExpenseAnywhere system with PeopleSoft was fast and flawless. It will now allow PeopleSoft clients to install ExpenseAnywhere in fewer days and recognize significantly lower total cost of delivery."
ExpenseAnywhere is a highly scalable system and is available through the ASP hosted environment, or as licensed software for in-house installation. In either case, the implementation is rapid- under 10 days with high ROI. ExpenseAnywhere is extremely easy to use and manage. Its powerful, yet flexible, business-definable workflow and reimbursement policies allow businesses to easily manage their specific business rules and policies. The system tracks and alerts the users against duplicate entry of expenses, and for expenses not in compliance with the company's policies. ExpenseAnywhere provides enormous reporting capabilities at all levels, including forecasting and analytics.
With headquarters in Pittsburgh, PA, VCOM is a fast-growing technology company that provides Internet based software products for banks and businesses. VCOM's extensive line of products includes ExpenseAnywhere, Web@TM®, an award-winning Internet banking software for retail banking, and CashMaster, an Internet based treasury management system for corporate banking. VCOM's products are in use by a large number of US and foreign banks and businesses.
ExpenseAnywhere and Web@TM are the registered trademarks of Virtual Communications, Inc. All other company and product names mentioned are used for identification purposes only and may be trademarks of their respective owners.
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