Comdata Expense Management Solution

Spectrum user Steve Helms, Controller at Convergint Technologies asked, “We have been sent several emails over the last couple of weeks with regard to companies that offer Travel and Expense systems to save time and make the expense process easier. All the companies offer online expense entry for our colleagues and then include an upload into the financial systems, which I’m not sure is possible with Spectrum. Does Dexter + Chaney have a relationship with one of these companies? We need a system that works with Spectrum, allows us to  upload the data with ease, and get away from entering expense reports.”

Response: Construction companies face many obstacles to run their business each day, and many of those are related to expense management. From lost receipts to extended waiting periods for data entry, the expense management process can be frustrating. Comdata now offers a solution that eliminates many of the hassles associated with the expense process.

Comdata^® Expense Management is a fully integrated expense management solution that provides a seamless two-way interface with Dexter + Chaney’s Spectrum^® Construction Software. The expense report web portal focuses on a simple, efficient method of expense accounting for cardholders eliminating many of the obstacles associated with expense reporting by:

• Simplifying expense coding
• Eliminating the complexity of building manual interfaces with Spectrum
• Reducing the time period for allocating expenses to a G/L overhead, job cost, or equipment expense
• Providing a more timely and accurate reflection of business expenses for corporate management reporting

When a purchase is made using the Comdata MasterCard, the purchase data is synchronized to the accounting master tables for coding of expenditures and cash expenses. Purchases can then be assigned to the relevant fields including: employees, companies, divisions, jobs, phases/cost codes, cost types, equipment, etc. The Comdata Expense Management solution also allows employees to code against validated data. By pre-defining coding options in the system, cardholders and administrators can expedite the expense coding process by setting default coding for specific cardholders. When an expense is purchased using the employee’s Comdata MasterCard, those items are then assigned to different categories based on merchant category codes to ensure correct coding within the pre-specified codes. This integration feature simplifies the process for the cardholder and decreases the opportunity for data entry errors.

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Another common dilemma with expense management is the submission of paper receipts. Comdata’s Expense Management solution addresses this through the use of the Comdata Construction mobile application for the iPhone, Blackberry, and Android. This mobile app provides cardholders an easy way to capture card receipts and post them to the Comdata Expense Management solution. The system can automatically match the uploaded receipt to the transaction in expense management solution. Cardholders are therefore able to submit receipts for their expenses in a timely fashion without deviating from their daily tasks.

To learn more about the Comdata Expense Management solution, contact Eric Newton, Senior Vice President of Construction at Comdata, at (615) 370-7108. You may also learn more about the solution at the
2012 Dexter + Chaney Users’ Conference by stopping by the Comdata booth.

ABOUT COMDATA:

Comdata Corporation is a leading business-to-business provider of innovative electronic payment solutions. As an issuer and a processor, the company provides fleet, corporate payment, virtual card, and prepaid solutions to over 25,000 customers, enabling more than $31 billion in transactions annually. Comdata captures and reports detailed transaction data, giving customers unprecedented control over their expenses. In 2012, Comdata joined forces with Stored Value Solutions (SVS) to offer an expanded suite of prepaid gift card and loyalty solutions. Annually, the combined company enables $42 billion in payments volume and issues 580 million cards. Founded in 1969 and headquartered in Brentwood, Tennessee with more than 1,200 employees in the United States and Canada, Comdata and SVS are wholly-owned subsidiaries of Ceridian Corporation. www.comdata.com