Paychex Selects ExpenseWire to Power its Integrated Expense Management Solution
Businesses Save Time and Money by Automating Expense Reporting
ROCHESTER, N.Y.--(BUSINESS WIRE)--
Paychex, Inc. (NASDAQ: PAYX), a leading provider of payroll and human resource services, and ExpenseWire, a Rearden Commerce company and leading provider of on-demand expense management solutions, today announced the availability of Paychex Expense Manager, an integrated payroll and expense management solution that helps small and medium-sized businesses (SMB) control discretionary spending while giving their employees the convenience of preparing and submitting expense reports online via an easy-to-use, secure tool. ExpenseWire's innovative technology will power Paychex Expense Manager, expanding the software-as-a-service portfolio offered by Paychex Major Market Services. The combined solution streamlines the time-consuming process of submitting and reviewing expense reports and speeds reimbursements to employees by allowing payments to be made through payroll, which also reduces costs for customers.
"Payroll and expense management complement each other," said Michael A. McCarthy, vice president of sales for Paychex Major Market Services. "In today's economy, companies are continuously looking for ways to save money and become more efficient. With Paychex Expense Manager, our clients will quickly realize operational savings while giving their employees a better experience. Few products can offer that."
"Traditional expense reporting diverts time from valuable company resources," said Andrew Vaeth, CEO and founder of ExpenseWire. "With Paychex Expense Manager, thousands of SMBs have access to an inexpensive expense tool that gives them more visibility and control so they can stay focused on running their business."
According to industry research, millions of American workers use spreadsheets or other manual methods to submit expense reports. In addition to lost productivity and increased administrative costs, businesses often lose visibility into spending patterns and miss opportunities to control inappropriate spending or even fraud.
Paychex Expense Manager takes advantage of ExpenseWire's "rules engine," which warns approvers if an expense is outside of allowable limits, enabling them to manage expenses down to the line item. In addition, its credit card integration makes creating expense reports even faster and more accurate. Transaction history can be automatically loaded for both corporate and personal cards, which is especially beneficial to employees who frequently use personal credit cards for corporate expenditures.
Paychex Expense Manager streamlines the process of filing, reviewing, approving, and reimbursing employee expense reports online. It provides organizations with increased control over employee spending, and can be deployed quickly throughout the entire organization.
For more information about Paychex Expense Manager, please visit www.paychex.com.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex(R). Human resource and benefits outsourcing services include 401(k) plan recordkeeping, health insurance, workers' compensation administration, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices and serves approximately 572,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.
The ExpenseWire(R) application sets a new bar for expense management. It simplifies and automates the process of filing, reviewing, approving and reimbursing employee expense reports online. It provides organizations the business insight and process control they require to reduce costs and strategically manage expenses. ExpenseWire's on-demand solution can be deployed quickly and integrates easily with travel booking tools and other third party applications. ExpenseWire is a Rearden Commerce company (www.reardencommerce.com). To learn more about how ExpenseWire delivers on the promise of expense automation, visit www.expensewire.com.
About Rearden Commerce, Inc.
Rearden Commerce makes life simpler by delivering a web-based personal assistant that intuitively manages the everyday details of business and personal life. Just like a seasoned executive assistant, the Rearden Personal Assistant(TM) handles an impressive array of tasks and services, and delights users by considering their unique needs and personal preferences. The Rearden Personal Assistant is built on the Rearden Commerce(TM) Platform, which supports an ecosystem of more than 160,000 trusted merchants and third-party applications providers. Today, more than one and a half million contracted users at organizations ranging from the Fortune 500 to small/medium enterprises, including ConAgra Foods, GlaxoSmithKline and JDSU, rely on the recommendations and assistance of the Rearden Personal Assistant to save time and be more efficient, while saving their companies money. Rearden Commerce is headquartered in Foster City, CA. For more information, visit www.reardencommerce.com.
Source: Paychex, Inc.
Released October 8, 2008