Hanley-Wood Uses ExpenseAnywhere® for Expense Management Automation 

Pittsburgh, PA (March 24th, 2003) – Virtual Communications, Inc. (VCOM) announced that Hanley-Wood LLC, leading business-to-business media company in the residential and commercial construction industry has gained substantial efficiencies by using VCOM’s ExpenseAnywhere® for its expense management automation.

ExpenseAnywhere® is the web-based expense management solution that enables companies to reduce operating costs, increase productivity and apply greater intelligence to decision making through comprehensive analytics. ExpenseAnywhere® automates each step of employee reimbursable business expense management process, from expense report generation and approval to policy compliance, data analysis and reimbursement. Travelers prepare expense reports faster and more accurately. Expense reports are automatically routed to managers for efficient on-line approval. Accounting departments are more productive because expense reports are delivered on-line and link to financial and payroll systems, eliminating the need to re-key expense data. Easily accessible expense data allows, managers, auditors and executives to analyze spending trends, exercise cost control and negotiate better supplier rates for additional savings.Additional information is available from www.expenseanywhere.com.

Mr. Aaron Packard, Vice President IT at Hanley-Wood, LLC said, “We compared VCOM’s solution against other competing Tier-1 web-based expense management offerings and selected ExpenseAnywhere® based on features, ease of use and overall return on investment”. He added, “ExpenseAnywhere® is user-friendly and our employees needed little training. With our workforce in different locations and on the go, Hanley-Wood needed an enterprise expense-reporting solution that would transform our expense management process from a paper-based system to an automated process. Our users are extremely pleased with the application”.

Ashok Dhar, Ph.D., President & CEO of VCOM said,  "We welcome Hanley-Wood amongst our growing roster of clients. Our team deployed the entire system at Hanley-Wood in two days and Hanley-Wood has been using the application for over four months now with no issues whatsoever.  We are confident that Hanley-Wood will continue to recognize substantial efficiency gains and process improvements by using ExpenseAnywhere”.

With headquarters in Pittsburgh PA, VCOM is a fast-growing company that provides e-business and e-banking products. VCOM’s e-banking products are in use by and foreign banks, including Sumitomo Mitsui Banking Corporation, the second largest bank in the world.

Hanley-Wood publishes leading magazines in the residential and commercial construction industry including Multifamily Executive, Builder, Big Builder, Remodeling, Concrete Construction and Pool & Spa News. The company has a major online presence through Builder Online, eplans.com and ebuild.com. Hanley-Wood also produces nine trade shows and is a leading publisher of home plans magazines and special interest publications. Founded in 1976, Hanley-Wood, LLC is a business-to-business media company owned by VS&A Communications Partners III, the private equity affiliate of media industry merchant bank Veronis Suhler Stevenson.