ExpenseAnywhereTM is a best practices, “roles-based” solution that allows corporations to effectively manage their workflow, exercise management control and uniformly administer company-specific expense reimbursement policies, as well as expenditure and approval limits. ExpenseAnywhereTM allows import of corporate credit data with an easy point-and-click allocation, and credit card expense splitting to the appropriate expense category.

The software supports multi-currency transactions, provides automatic mileage and per diem calculations. The system provides extensive online ad hoc reporting for pre-payment audit and expense management. ExpenseAnywhereTM is designed for seamless interface with any Enterprise-wide accounting software. ExpenseAnywhereTM provides powerful, yet flexible and business-definable workgroup capabilities. These capabilities utilize the existing corporate approval and management hierarchy. Together, with the built-in routing over the Internet/ Intranet, expense reports are delivered in an expedient and efficient manner from employee to manager, then to accounting for approval, payment, and general ledger posting, in conformance with the organization’s business practices.

ExpenseAnywhereTM provides the most advanced, function-rich, easy-to-use and maintain Internet based system. This system fully automates business expense management, which constitutes the third largest controllable cost in corporations, and is a key business process that companies are seeking to re-engineer.

“Today, most corporations still use paper-based expense reports or, at best, spread-sheet based systems requiring manual, error-prone, and costly re-keying of enormous amounts of data, with little or no possibility to evaluate the data for budgeting, forecasting, or vendor negotiations,” said Dr. Ashok Dhar, President and CEO of Virtual Communications. “For most organizations, even a preliminary cost-benefit analysis will reveal the opportunity for enormous savings and efficiency gains through use of ExpenseAnywhereTM. “In fact, research has shown that corporations can reduce the cost of expense processing by as much as 89 percent by implementing an automated expense reporting system.” With headquarters in Pittsburgh, Pa., VCOM is a fast-growing company that provides Internet based software products for banks and businesses. VCOM’s extensive line of products include Web@TM®, an award-winning Internet banking software for retail banking; CashMaster™, an Internet based treasury management system for corporate banking; and Time COP™, an Internet based time management system. VCOM’s banking products are in use by U.S. and foreign banks, including Sumitomo Mitsui Banking Corporation, the second largest bank in the world.