MINNEAPOLIS, Minn., - U.S. Bank Corporate Payment Systems and Concur Technologies, Inc. (NASDAQ: CNQR) announced today that Maurices Inc. and a leading fluid technology company have become the first U.S. Bank commercial card customers to implement AccessExpense. Developed and powered by Concur, AccessExpense provides customers with the world's leading Web-based travel and entertainment (T&E) expense management solution.
By leveraging the expertise of U.S. Bank and Concur Technologies, customers receive a corporate travel card from the world's largest bank issuer, and the business service expertise of Concur Technologies, the global leader in expense management. The U.S. Bank corporate card offers unparalleled global acceptance, extensive management reporting, custom billing and payment options and a host of comprehensive travel benefits. AccessExpense allows U.S. Bank customers to simplify expense management by automating the process, ensuring a far greater degree of accuracy, while adhering to corporate governance requirements, such as Sarbanes-Oxley.
"The first AccessExpense customers chose U.S. Bank for the combined value of our corporate card and the added power of a top-notch expense management solution," said Robert T. Abele, executive vice president for U.S. Bank. "Both companies required a travel card with extensive benefits, access to worldwide cash advance systems, 24-hour customer service, and automated expense reporting; we're confident that both companies will leverage all of the services and features associated with our corporate card and AccessExpense."
"We are extremely excited about the partnership we have embarked upon with U.S. Bank and Concur," said Nancy Adams, Travel Manager for Maurices. "We were impressed with the capabilities this system will offer us - not only from a back office accounting function, but also from a front-end traveler convenience aspect. We anticipate that our expense reporting process will be simplified and we will obtain more accurate data to be used in a multitude of ways."
AccessExpense is a co-branded version of Concur Expense that enables U.S. Bank to provide its customers with a powerful, complementary tool to couple with its commercial card. AccessExpense automates the T&E expense management process including expense report preparation, policy compliance, reimbursement, data analysis, and enables improved financial reporting.
U.S. Bank Corporate Payment Systems 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.
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 2,201 banking offices and 4,506 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 usbank.com.
Dan Endy, Corporate Payment Systems
Karen Greenwood, Media Relations
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