Expense System Provider Xpenditure To Open Offices In New York, Brazil

Belgian expense management company Xpenditure this year will open new offices in the Americas, CEO Boris Bogaert told Business Travel News. Focusing on processing individual expenses rather than full expense reports that can get held up in approvals processes, the company currently has a "virtual office" in New York, but beginning this summer will operate a full-time office with an appointed United States leader, according to Bogaert.

A Brazilian office is scheduled to open in September. "Brazil is a really interesting market and travel and expense there is growing," Bogaert said.

Unlike most other expense systems, Xpenditure's won't hold up the process and therefore delay employee reimbursement if at least one expense is questionable. That way, users still receive reimbursement for all approved expenses. "We eliminate the expense report," Bogaert said. "If you submit 10 expenses for approval and nine are approved but one is not, the nine others will be reimbursed to the employee."

With a click of a button, users can create PDF, CSV and XML versions of reports to save for their records.

Prepaid card company Cardwise about a year ago created Xpenditure in Europe to focus on small and medium enterprises, but has the ability to cater to larger businesses, according to Bogaert. Xpenditure now supports about 10,000 users from 1,500 companies in 10 countries.

Xpenditure is available in six languages, with Spanish to be added in the coming weeks and more languages to follow, Bogaert said. Xpenditure has mobile receipt capture, which automatically links receipts to credit card transactions. Corporations can pay $5 a month per user or $50 a year per user. For larger enterprises, pricing varies based on volume. 

Xpenditure integrates with such accounting and ERP systems as FreshBooks, Dynamics, SAP, Oracle and Unit4, as well as cloud file hosting company DropBox and note-taking software Evernote. It also integrates with 3,500 banks in 11 countries through a partnership with miiCard (My Internet Identity), a company providing online identity verification services. Xpenditure aims to partner with more companies, particularly banks, to offer customers more system integrations.