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Receipt imaging becomes expense mgmt. standard.

Article Excerpt
A majority of companies implementing automated expense reporting systems are including digital receipt imaging technology, prompted by the potential to streamline spend management processes and make them as paperless as possible, maximize savings and increase auditing effectiveness in the wake of the 2002 Sarbanes-Oxley Act.

Meanwhile, other businesses that previously adopted electronic reporting systems but retained old methods of manually collecting, checking and archiving travel receipts are integrating imaging technology into their systems at an increasing rate.

"More and more companies, as they roll out expense management automation, include receipt imaging from the outset," said analyst Christa Degnan, research director for Boston-based Aberdeen Group. "Those who implemented automation early, before imaging was really mature, are adding it."

David Kaufman, partner in New York-based Acquis Consulting Group, agreed. "There has been more of a focus on receipt imaging," he said. "Because of Sarbanes-Oxley, people are reexamining their processes and trying to fit imaging in as an added control."

Such vendors that offer receipt imaging with expense reporting management solutions as Necho Systems, Gelco Information Network and Concur Technologies agreed that demand for receipt imaging is on the rise.

"Demand has exceeded our expectations," said Chris Juneau, senior director of product management for Concur. "We're tracking to capture approximately two million receipt reports annually and it's growing 100 percent per month in terms of volume. We have over 350-plus customers using our imaging service."

"We've seen...

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