PITTSBURGH, May 15 /PRNewswire/ -- Virtual Communications, Inc. (VCOM), today announced the release of ExpenseAnywhere(R) 4.0, an Internet-based automated expense management solution for medium- to large-size businesses. Release 4.0 enhances the capability of managing corporate card expenses to the already comprehensive expense management features built in to the earlier release of ExpenseAnywhere(R).

ExpenseAnywhere(R) is a "roles-based" solution that allows corporations to manage their workflow, exercise management control, and uniformly administer reimbursement policies. The software supports multiple approvals, multi- currency transactions, and setting up of expense limits. The system tracks third-party billable expenses, special events expenses and intra-company business unit allocations.

With its powerful card management functionality, ExpenseAnywhere(R) 4.0 provides easy management of corporate cards and routing of card transaction data to the cardholders for simple point-and-click allocation to the company expense categories. Regardless of whether the corporate cards are company paid or employee paid, and whether they are purchase cards, travel and entertainment (T&E) cards, or a combination thereof, ExpenseAnywhere(R) 4.0 handles it all.

With easy-to-use screens and company definable workflow, ExpenseAnywhere(R) facilitates the flow of expense reports throughout the entire expense approval process, from employee submission to direct posting of expense data to your company's general ledger with extremely powerful reporting and tracking capabilities. ExpenseAnywhere(R) seamless interfaces with any enterprise-wide accounting software and provides a direct deposit reimbursement capability without the need for additional software or service.

"ExpenseAnywhere(R) is a powerful best practices solution that helps businesses improve their bottom line, with substantial efficiency gains and employee satisfaction. ExpenseAnywhere(R) 4.0 frees you from the hassles associated with paper-intensive manual systems. ExpenseAnywhere(R) is meant for businesses of all sizes, and should be of significant interest to financial institutions wanting to promote their corporate purchase cards and T&E cards," said Ashok Dhar, CEO of VCOM.

ExpenseAnywhere(R) is available in an ASP hosted environment, as well as licensed software. The software runs on Windows NT or Windows 2000.

About VCOM

VCOM, based in Pittsburgh, Pa., provides Internet based software for retail and corporate banking. VCOM's products are in use by the U.S. and foreign banks, including Sumitomo Mitsui Banking Corporation, the second largest bank in the world. Contact VCOM at 412 858 1111, or visit www.vcominc.com or www.expenseanywhere.com.

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SOURCE Virtual Communications, Inc.

/CONTACT: Ashok Dhar, Ph.D. of Virtual Communications, +1-412-858-1111, or dhar@vcominc.com/

/Web site: http://www.expenseanywhere.com/ /

/Web site: http://www.vcominc.com/ /