Comdata Corp. and expensewatch.com have formed a technology alliance intended to provide small and mid-sized companies comprehensive tools for end-to-end operating expense management. The two companies plan to more tightly integrate their technology, with a combined launch expected during the first half of 2007.
“Our partnership with expensewatch.com brings a whole new level of efficiency and automation for our customers with purchasing card programs,” says Gary Krow, president of Brentwood, Tenn.-based Comdata. “Companies looking to improve expense control, reduce cost and achieve margin improvements in their procure-to-pay cycle will find the integrated application between Comdata and expensewatch.com extremely compelling.”
Using the Comdata Card program, companies can apply numerous controls before company money is spent. Once the card is used, the transactions are sent electronically to the expensewatch.com service, bringing complete automation to purchase requisition, expense report and invoice approval processes. All corporate card transactions then can be documented, and company spending policies can be applied and enforced.
“For the first time, small-to-midsized companies can affordably put operating expense controls in place, allowing them to operate their businesses with the same efficiencies of larger organizations,” says Bill Vergantino, president and chief executive officer of Conshohocken, Pa.-based expensewatch.com. “Combining the value of automated enforcement of corporate spending policy with automated payment solutions is a key aspect of this exciting new alliance, which will deliver real bottom-line value to customers in the form of rebates, cost avoidance, transactional efficiency and financial control.”