New era in expense management

Leading corporate travel specialist FCm Travel Solutions has just signed an exclusive Australasian deal with expense management specialist Concur.

The new relationship gives FCm Travel Solutions exclusive rights to Concur’s new web-based travel expense management reporting system which looks set to transform the way companies determine the ‘true’ cost of business travel.

General Manager of FCm Travel Solutions David Burns said managing the hidden costs of business travel is now possible with the FCm branded system – FCm eXpense.

“This new system is widely recognised to be the world’s leading expense management solution and FCm has an exclusive rights agreement to offer a branded version of the system in Australia and New Zealand.

“We have been able to tailor this product so that it complements our own travel management product suite or can be purchased independently by companies looking for a simple web-based solution to automate their expense management processes.”

With more than 625 companies world wide now utilising it, the expense report system facilitates internet based report preparation, automatic status updates, remote approvable and routing capabilities while also providing an effective streamlined review and approval process.

Concur is the world’s leading provider of automated on-demand Corporate Expense Management (CEM) business services, with its latest system widely recognised as one of the most efficient forms of managing all areas of business travel.

Mr Burns says the FCm eXpense system has already proved to be very successful internally as an effective management system.

“We’ve just started using the system for our own expense management and the results are already proving significant,” he said.

“It has also taken all the hassle of processing out of the hands of the individual because all expenses go through a single process meaning the margin for error is reduced, promising a higher standard of internal control.

“It will help free up people to concentrate on more productive tasks.”

Processing costs of the FCm eXpense system can be as little as AUD$24 per report, which is significantly less than average costings according to an independent study by the Aberdeen Group.

The study revealed the average cost for filing an individual expense report is as much as AUD$64.

“Without an effective expense management system, Australian businesses are simply wasting their own time and money on expense reports,” Mr Burns said.

“The system has the potential to save Australian companies a lot of money, and as a result improve their bottom line.”