Deem Upgrades Digital Wallet with Intelligent Transaction Matching, Simplifying Expense Management

New Features Add Automated Matching for Linked Credit Cards, Support for Personal and Corporate Cards on Single Account

Nov 04, 2015, 10:59 ET from Deem

SAN FRANCISCO, Nov. 4, 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 a new capability for its expense management and fulfillment product, Deem Expense. The new Intelligent Matching feature expands the capabilities of Deem's Automated Receipt Processing (ARP), released earlier this year, allowing credit card and travel service transactions with processed receipts to be automatically matched within the Deem Digital Wallet, consolidating multiple sources for the same expenditure as a single line item.

Finance departments and employees will benefit from faster, more accurate expense reports and spend less time unraveling errors due to any transactions and receipts that were previously matched incorrectly by the employee. Finance departments will gain increased visibility into on-platform travel booking compliance and insight into bookings versus actual spend across Flights, Hotels, and Car Rentals. Employees will experience a streamlined Digital Wallet view which efficiently collects corporate and personal credit card transactions, travel services transactions, and receipts in a single consolidated view, optimized for increasing levels of reporting automation.

"Expense reporting remains one of the most loathed necessary-evils at every company of every size," said Patrick Grady, founder and CEO of Deem. "The Intelligent Matching update to Deem Expense will improve the speed and accuracy of expense report submission and move us closer to the goal of a fully automated, touchless expense reporting process."

"We have dozens of employees who travel every week for work and hundreds of expense reports submitted every quarter," said Tripp Meyer at GT Software. "Deem Expense provides our employees with a simple, intuitive mobile and desktop application for creating, editing and submitting accurate expense reports, getting them, and our finance team, back to the work that really matters faster."

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 Shopping 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 more than 34,000 customers, 100,000 merchants, 11 million unique products and services and 40 channel partners across a one-of-a-kind business commerce network, enabling them to lower costs, increase revenue and deepen customer loyalty. Deem is backed by leading mutual fund and private equity investors. For more Information visit www.deem.com.

Press Contact
Owen Remeika
owen.remeika@deem.com
415.579.5332

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