CyberShift and TRX Partner to Deliver Integrated Expense and Travel Management Solution
Monday May 19, 7:00 am ET
CyberShift's Expense Management Solution Combined With TRX's RESX Booking Application Helps Companies Increase Compliance, Improve Traveler Satisfaction and Lower Costs
PARSIPPANY, NJ and ATLANTA, GA--(MARKET WIRE)--May 19, 2008 -- CyberShift, a leading global provider of workforce management and expense management software and services, today announced a partnership with Atlanta-based TRX, a global technology company that develops and hosts software applications to process data records and automate manual processes. Under the terms of the agreement, CyberShift will offer its automated expense management solution, Necho Expense(TM), with TRX's corporate travel booking application, RESX. This joint solution delivers access to key reporting data without adding extra steps or tasks when employees book travel or submit an expense report. The combination of these two best-of-breed solutions automatically ensures that travel arrangements are within budget and aligned with corporate travel policies.
RESX is a Web-based, self-service application that enables business travelers and travel arrangers to create policy-compliant air, car, and hotel reservations. RESX's robust administration module enables travel management companies and corporate travel managers to tightly manage policy, site customization and user settings.
As a result of this relationship, CyberShift's robust back-end reporting portal is leveraged to consolidate booked transaction data from RESX and actual business expense data from Necho Expense. The consolidation of this data into one central repository gives organizations visibility into their employees' business expenses so that they can take proactive steps to maximize the use of preferred suppliers and reduce overall spend through improved policy compliance and communication. With the combined capabilities of Necho Expense and RESX, administrators in accounts payable, finance, procurement, travel and other key departments can access detailed reports and analytics including:
-- variance reports that identify booked expenses versus actual expenses;
-- total spend booked but not expensed;
-- total spend expensed but not booked;
-- matched transactions and users not using the booking tool.
Shane Hammond, president of RESX Technologies, said, "The partnership between CyberShift and RESX gives our clients a powerful online solution that is truly complete, from planning and booking a business trip straight through to processing expense reimbursement. The solution is easy to manage and enables business travelers to make sure their travel plans and expenditures are within corporate guidelines and budgets, and that their associated expenses can be quickly and accurately processed."
CyberShift's CEO, Robert Farina, said, "For many organizations integrating the information associated with the travel booking and expense reimbursement processes is vital to taking control of their business travel and entertainment expenses. CyberShift's partnership with TRX enables our joint customers to proactively manage these two areas in a highly flexible, open platform. We believe this partnership provides an innovative set of applications and long-term value to our clients."
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