"Our partnership with expensewatch.com brings a whole new level of efficiency and automation for our customers with purchasing card programs," said Gary Krow, president of 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."
"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," said Bill Vergantino, president and CEO of 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."
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 can then be documented and company spending policies can be applied and enforced. Real-time visibility of data delivers key business intelligence for superior decision making and business performance.
The two companies plan to more tightly integrate their technology. A combined launch is expected during the first half of 2007.