Deem Deepens Expense Management Capabilities for Faster, More Accurate Expense Reports

SAN FRANCISCO, June 25, 2015 /PRNewswire/ -- Today's business travelling road warriors have the potential to significantly impact a company's bottom line while on the road, making it increasingly important to provide them with simple, convenient applications to handle the administrative side of travel, so they can get back to the work that matters. Deem, the leading Commerce-as-a-Service (CaaS) company, today announced new features for its expense management and fulfillment product, Deem Expense. The first new capability available today, gives employees the ability to create, edit, review and submit expense reports while on the go directly from their mobile device.

To make the mobile expense creation and submission functionality the most simple, accurate, and user-friendly experience possible, Deem also added Automated Receipt Processing to its Expense application. Automated Receipt Processing combines the elements of optical character recognition (OCR) with human verification to ensure the critical information from individual receipts is automatically input into expense reports with a high level of accuracy, minimizing the time spent by employees and finance departments manually editing reports. Deem is implementing Automated Receipt Processing into its core Expense offering at no additional charge.

"No matter what anyone says, expense reporting remains a necessary evil for employees and companies today," said Patrick Grady, founder and CEO of Deem. "With new features like Automated Receipt Processing, mobile create and submit and others coming later this year for Expense, our goal is to get employees in, out and reimbursed as quickly and effortlessly as we can while ensuring that companies have visibility into and control over maverick out-of-policy spend."

"As we help people and companies design a better way of working, it's critical for our employees to maximize their time with our clients and remain efficient when on the road," said Gino Karczewski, director of finance at The Energy Project. "Deem Expense helps our employees quickly and efficiently track and submit their expenses and automated receipt processing will allow our team to get back to helping companies fuel sustainable engagement and high performance even faster." 

Deem will also be launching a new auto-merge feature for automatically linking transactions from corporate card, personal cards, travel and captured receipts directly with an expense report. Individual employees will be able to link cards and other transaction sources to their Deem accounts and purchases and payments can be added to an expense report easily with the touch of a button.

Deem Expense is part of Deem's broader suite of indirect spend management applications, which are built to save companies money, and designed to delight employees. Companies can purchase Deem Expense as a standalone application or pair it with Deem Travel, Deem Analytics or the full Deem suite to unlock the full savings potential of indirect spend management. To learn more about the savings power of the Deem platform and suite of applications check out the new video A Day in the Life with Deem on the Deem YouTube channel.

About Deem
Deem is a leading Commerce-as-a-Service (CaaS) company that connects a large and diverse ecosystem of customers, merchants and partners across a one-of-a-kind business commerce network, enabling them to lower costs, increase revenue and deepen customer loyalty. Deem serves companies from SMBs to the largest Fortune 500 multinationals and counts more than 29,000 business customers, 100,000 merchants and dozens of market-leading distribution partners all with access to more than 11 million products and services across Deem's network. Deem's investors include Fidelity Investments, Hony Capital, PointGuard Ventures and Oak Investment Partners. For more Information visit www.deem.com.

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SOURCE Deem

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