OpenText (NASDAQ: OTEX) has introduced a solution to ease the process of expense reports, to be resold by SAP as the SAP Travel Receipts Management application by OpenText. The solution, which eliminates the need to move paper receipts around to process expense reports, aims to help companies significantly lower the cost and time involved with processing reimbursements, while also reducing the burden on traveling employees.
SAP Travel Receipts Management by OpenText aims to eliminate the hassle of processing paper receipts, integrating with multifunction devices, scanning applications, fax machines and email to make it easy to capture images of receipts, which can then be stored in a repository, linked to appropriate trip information and accessible through standard SAP user interfaces.
“SAP Travel Receipts Management by OpenText extends the SAP Travel Management value proposition by providing optical archival of digitized travel receipts and subsequent direct integration with SAP Travel Management,” said Hendrik Vordenbaeumen, vice president, SAP Travel Management Solutions, SAP. “This is yet another example of the growing arsenal of business optimization tools provided jointly by SAP and OpenText designed with the goal of providing customers superior corporate efficiency.”
With fully automated travel receipts having shown to reduce costs by a significant amount — a recent survey report titled “Travel & Expense Management Benchmarking” states that companies using a fully integrated system to process an expense report yield a per transaction cost as low as $10.68 — employees hope to use email and self-service applications to submit receipts and lead to quicker reimbursements.