US Bank, a subsidiary of US Bancorp, has introduced US Bank Expense Management, an electronic expense reporting tool that allows employees to manage travel expenses online while enabling travel managers to better track spending patterns and identify savings opportunities.
US Bank said that the US Bank Expense Management tool is suitable for mid-size companies with revenues from $25m to $500m.
The US Bank Expense Management tool automatically posts the travelers US Bank commercial or corporate card purchases into an online account, which helps in submitting the accurate expense reimbursement requests quickly, from anywhere – including web-enabled mobile devices.
The tool also allows the managers and travel program administrators to approve traveler expenses and ensure they comply with the company policy. Procurement professionals can track exactly where the travel dollars are going.
Jeff Rankin, senior sales and marketing officer at corporate payment systems at US Bank, said: “Most mid-sized companies still use manual or paper-based expense reporting systems. But managing travel expenses is often a part-time responsibility at companies this size, so they need a system that’s simple to use and easy to manage – which describes US Bank Expense Management perfectly.”
Kurt Adams, senior vice president of strategy and product at corporate payment systems at US Bank, said: “Instead of knowing only the total company expenditure on airlines tickets, for example, the procurement officer can know what the company spends with each individual airline and then use that data to negotiate more favorable pricing with airlines, hotel chains, car rental companies and travel service providers. Additionally, US Bank Expense Management can help ensure employees use these preferred providers.”