MINNEAPOLIS, Jan 23, 2004 (BUSINESS WIRE) -- U.S. Bank Corporate Payment
Systems and Concur Technologies, Inc. recently announced a partnership to offer
customers U.S. Bank AccessExpense, powered by Concur(R). In combination with
U.S. Bank commercial cards, AccessExpense provides companies with an end-to-end
expense management solution to help control their travel and entertainment
AccessExpense builds upon the control features inherent in commercial cards to
more effectively manage travel and entertainment costs, the second largest
controllable cost in most organizations. By automating the travel and
entertainment expense management process -- including prepopulation of
commercial card data, expense report preparation, policy compliance, employee
reimbursement and control of financial reporting -- AccessExpense ensures far
greater accuracy and adherence to corporate governance requirements, such as
"We chose to partner with Concur Technologies because they have a very robust
product which complements the value proposition behind our commercial cards,"
said Robert T. Abele, executive vice president for U.S. Bank. "They are an
industry leader, and we like the synergy we've created. AccessExpense is another
powerful tool that we can offer to our commercial card customers."
AccessExpense features built-in "best practices" management reports, based on
the input of numerous companies and organizations, to effectively monitor and
control costs throughout an organization. With AccessExpense, corporate travel
managers now have an edge in negotiating rates with hotels, airlines, car rental
agencies and other travel suppliers -- resulting in immediate reductions in
direct costs. AccessExpense's flexible queries and customized reporting options
also help enable trend analysis, influence budget decisions and improve
"Today, 97 percent of businesses have not automated their expense process. U.S.
Bank will be a key strategic partner for Concur as we bring expense automation
to these businesses," said Steve Singh, president and CEO of Concur
Technologies. "AccessExpense, Powered by Concur, is a subscription-based service
that provides companies with a fast, easy, and affordable way to automate their
expense reporting process. Together with U.S. Bank, we look forward to enabling
mid-sized businesses to take control of their expenses."
U.S. Bank Corporate Payment Systems, a division of U.S. Bancorp, offers clients
a full suite of solutions for commercial, fleet and B2B payment needs. U.S. Bank
was the first to offer corporate bankcard, purchasing and relocation card
programs, the first to offer a private-label fleet card and is one of the
largest merchant acquirers in the world. Corporate Payment Systems maintains an
enviable list of clients including nearly half of the Fortune 100 and more than
30 percent of the Fortune 500.
Concur Technologies, Inc. (Nasdaq:CNQR) is the world's leading provider of
Corporate Expense Management solutions, servicing thousands of companies
worldwide. Concur solutions include Concur Expense for travel and entertainment
expense management and Concur Payment for managing employee request for vendor
payments. Concur also offers value-added software and services to complement its
core solutions, including Concur Imaging Service, Concur Travel Integration,
Concur Business Intelligence, and Concur Total Access. Concur solutions
streamline business processes, reduce operating costs and improve internal
controls while empowering financial managers to apply greater intelligence to
their company's spending patterns. More information about Concur is available at
U.S. Bancorp (NYSE:USB), with assets of $189 billion, is the 8th largest
financial services holding company in the United States. The company operates
2,243 banking offices and 4,425 ATMs, and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. U.S. Bancorp is home of the
Five Star Service Guarantee, which assures customers of certain key banking
benefits and services or customers will be paid for their inconvenience. U.S.
Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
SOURCE: U.S. Bank
CONTACT: U.S. Bank
Dan Endy, Corporate Payment Systems, 612-973-6901
Karen Greenwood, Media Relations, 612-303-0731
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SOURCE: U.S. Bank