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ExpenseBay Connects Automated Expense-Report Application With NetSuite's Cloud Computing Platform

Posted on: Wednesday, 26 August 2009, 09:00 CDT

SANTA MONICA, Calif., Aug. 26 /PRNewswire/ -- ExpenseBay, an emerging developer of expense management applications, announced today that it has integrated its Employee Expense Automation Service application with the NetSuite cloud computing platform. The ExpenseBay application lets NetSuite users capture and input their business expenses via smartphones, then submit them for automatic calculation, allowing employees to cut the time by 75 percent, and businesses to improve governance and regulatory compliance by automating the expense-reporting process. The integration was developed using SuiteCloud, NetSuite's comprehensive offering of on-demand products, development tools and services designed to help companies take advantage of the significant economic benefits of Cloud computing.

With the ExpenseBay application, users can enter cash transactions and photos of receipts directly via a smartphone, email, or ExpenseBay's portal. ExpenseBay also uses a secure third-party to automatically retrieve user credit card transactions, and then applies that to the expense report. ExpenseBay categorizes and calculates the expenses, sends report drafts to users' email inboxes for final review, and then sends them to NetSuite's background applications for automatic processing.

The 10-Minute Expense Report

According to ExpenseBay CEO Eric Sikola, "We also find that the easier it is to do expenses, the greater likelihood that they'll be done on time, and will be accurate.

"This integration allows ExpenseBay to market our solution to the more than 7,000 companies that have trusted and standardized on NetSuite's ERP platform," said Sikola. "The joint solution complements NetSuite's existing expense management module and gives NetSuite users a faster way to capture, create, and track their expense transactions and reports."

"The ExpenseBay integration with NetSuite is a great productivity enhancement in expense reporting for our customers and helps them improve governance and compliance by further automating the expense process," said Guido Haarmans, VP of Developer Programs at NetSuite. "ExpenseBay also fits perfectly with NetSuite's mobile strategy and it is a great compliment to mobile applications from other partners, adding significant value to NetSuite users on the road."

With the ExpenseBay integration, NetSuite users will have the ability to:

• Automatically generate reports based on a preset time period or trip.
• Track how much their company owes them on a daily basis and understand which transactions have already been submitted.
• Receive daily refreshes from over 500+ Credit Card Providers that will be automatically categorized and displayed in their expense reports.
• Utilize ExpenseBay's smartphone application or a camera phone to capture receipt images and enter transactions from outside the office.
• Integrate all expense transactions, relevant information, (To/From, Attendees, etc.), and digital receipts into NetSuite, creating a new expense report for the user and initiating the approval process directly from ExpenseBay.
• Track whether an expense report was approved, denied, or reimbursed.
• Increase employee adherence to corporate expense policies and improve governance and compliance, for instance with Sarbanes-Oxley.
  

"This is the missing element in expense management our customers have been asking for," says Vijay Saha, CEO of Sererra. "By bundling ExpenseBay and NetSuite products, employees can spend less time doing expense reports and save their employer a tremendous amount of money."

To try out the ExpenseBay service, log on to the company's web site at http://www.ExpenseBay.com

Pricing and Availability

ExpenseBay for NetSuite is available today and is priced at $10 per user per month. Additional information can be found on NetSuite's SuiteApp.com portal at www.suiteapp.com.

About SuiteCloud

NetSuite's SuiteCloud is a comprehensive offering of on-demand products, development tools, and services designed to help customers and commercial software developers take advantage of the significant economic benefits of Cloud computing. Based on NetSuite, the world's most widely used Software as a Service ERP Suite, SuiteCloud enables customers to run their core business operations in the Cloud, and software developers to target new markets quickly with newly created mission-critical business applications built on top of mature and proven business processes. The complete SuiteCloud offering includes NetSuite's multi-tenant, always-on SaaS infrastructure; the NetSuite Business Suite of applications (Accounting/ERP, CRM, Ecommerce); the NS-BOS Development Platform; the SuiteCloud Developer Network (SDN), a comprehensive developer program for Independent Software Vendors (ISVs); and SuiteApp.com, a single-source online marketplace where ISVs, customers and solution providers can find applications to meet specific business process or industry-specific needs. For more information on SuiteCloud, please visit www.netsuite.com/developers.

About ExpenseBay

ExpenseBay's award winning service helps business employees automate their expense weekly reports, leading to enormous timesaving and better organization of their expenses. ExpenseBay is a secure and easy to use SaaS solution that automatically generates an employee's weekly expense report. Once created, users can review and export into a company mandated spreadsheet or Enterprise SaaS Expense Management system. Receipt images can be captured from a camera phone via ExpenseBay's mobile application or by sending an email to receipts@expensebay.com. ExpenseBay is a privately held company with headquarters in Santa Monica, CA. For more information on ExpenseBay, please visit: http://www.ExpenseBay.com.

SOURCE ExpenseBay

Source: PR Newswire

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