TRX, Inc. announced the acquisition of a mobile expense reporting application technology from Nexpense to be incorporated in its expense solution TRUEXPENSE. TRX specializes in travel data software and solutions.
The company provides several Software-as-a-Service utilities helping travel agencies, corporations, government agencies and other institutions via its travel technology applications. TRX software offers data intelligence, process automation, expense management and consulting services, in order to optimize travel transaction processing, travel management and data management.
In a release, TRX president and CEO, Shane Hammond said, “Mobile solutions are rapidly expanding and changing the landscape of business travel and expense management.”
“The Nexpense application is a valuable addition to TRX’s TRUEXPENSE solution and makes expense reporting and management easier for our customers and their business travelers. Mobility is a necessity in today’s travel world, which is why we are committed to investing in mobile technology to add value to our suite of travel and expense solutions,” Hammond added.
The TRUEXPENSE native application lets travelers capture expense receipt photos with their smartphones, which are automatically uploaded into the expense reporting tool using a business rules engine and fraud detection algorithm.
Officials added that the Nexpense mobile expense reporting application technology will be fully integrated with TRUEXPENSE in August. The enhanced solution will be made available at the Apple app store and in the Android (News - Alert) market.
This new application benefits business travelers who don’t want to manually e-mail their receipts. The application also has Optical Character Recognition (OCR) technology embedded in it, which eliminates chances of travelers making fraudulent expense claims. OCR technology also checks entered receipts to prevent duplication owing to manual expense errors.
Nexpense founder, Jennifer Bonnet remarked, “This is excellent for TRX customers. The Nexpense app’s mission is to eliminate the frustration and fraud inherent in the paper expense management process, which coincides nicely with TRX’s mission to simplify and automate expense management. Combining this mobile technology with TRX's suite of solutions was a smart business decision.”
TRX, Inc announced recently an 80 percent increase in usage for its free mobile business travel itinerary management tool TRAVELINX, in the first five months of 2012. The tool has also recently been integrated with social media sites Facebook (News - Alert) and LinkedIn to increase its functionality and value for business travelers.
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Edited by Brooke Neuman