TRX Buys Nexpense Native Mobile Expense Application
TRX, Inc., a global leader in corporate travel data and technology, has acquired the mobile expense reporting application technology from Nexpense for its expense solution TRUEXPENSE. The application helps travelers easily capture expense receipt photos with their smart phones and automatically uploads the receipts into an expense reporting tool using a business rules engine and fraud detection algorithm. The new application is expected to be fully integrated with TRUEXPENSE in August and will be available through the Apple app store and in the Android market.
"Mobile solutions are rapidly expanding and changing the landscape of business travel and expense management," said TRX President and CEO Shane Hammond. "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."
The new application eliminates the need for business travelers to manually email their receipts. In addition, Optical Character Recognition (OCR) technology is embedded in the application to help prevent fraudulent expense claims. OCR technology parses all entered receipts to recognize duplicates and prevent manual expense errors.