Clarus Announces Web Commerce Expense Management.ATLANTA--(BUSINESS WIRE)--April 6, 1999--Clarus Corporation (Nasdaq:CLRS CLRS Center for Labor Research and Studies CLRS Central Launch and Recovery Section CLRS Claims Legal Research System ) today announced Clarus(TM) Expense, a comprehensive Web commerce expense solution. This application is designed to allow a company to gain control of expenses, decrease turnaround times (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. for employee reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. , reduce the cost of processing expense reports and increase employee satisfaction. Clarus Expense features an innovative "momentum-based" framework that minimizes delays in expense report processing. This expedites exception handling, policy management and reimbursement timetables. Policy administrators can directly create and maintain corporate travel and entertainment (T&E) policies and quickly roll out changes to employees. The Clarus Expense "situational routing" serves as the vehicle for ultimate flexibility in the way expense reports are distributed for required approvals. The routing rules are policy driven and are specified by organization. Clarus Expense will include: -- Integrated "best practices" for T&E -- Automated expense reporting/management from employee to back office -- Direct import capabilities for corporate credit card charges -- Exception-based auditing -- Graphical analysis and drill-down -- Immediate user notification of policy exceptions with detailed explanations -- Integrated expense planning -- Remote offline support The Container Store and Mark Travel anticipate the benefits of Clarus Expense and have been working with Clarus to identify general market requirements for the Expense offering. These customers expect the solution to significantly streamline expense report processing, freeing up employees to focus on more strategic issues. Keath Hance, CFO See Chief Financial Officer. of The Container Store, said, "In addition to expediting the overall expense report process for our employees, the ability to go online to reconcile reports will make this sometimes daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin task virtually effortless ef·fort·less adj. Calling for, requiring, or showing little or no effort. See Synonyms at easy. ef fort·less·ly adv. . And with the detailed data we
receive from credit card companies, our organization will be able to, in
essence, go 'paperless.' The need to keep up with dozens of
receipts and travel tickets collected while on the road will be
eliminated."
Kristin Markus, program manager for Mark Travel agrees, "We've realized that incorporating the Clarus Expense solution will be a tremendous benefit to our company. Providing employees with a solution that allows them to go online will streamline the expense report process, saving a lot of time and costs in the long-term." "Employee adoption is crucial to be able to manage these resources at a business level," said Steve Hornyak, Clarus vice president, product strategy and business development. Clarus Expense allows management to gain proactive control over employee expenditures while increasing their satisfaction with the reimbursement process. "Clarus Expense will deliver a dramatic return on investment that results in a significant impact on the bottom line," Hornyak added. Clarus Expense is part of the recently announced Clarus(TM) Commerce suite, which manages operating resources by providing a continuous closed-loop process of planning, execution and analysis; real-time views; and real-time pinpoint controls. -0-
In addition to Expense, Clarus Commerce includes:
-- Clarus(TM) E-Procurement - a business-to-business e-commerce
procurement solution that connects buyers and suppliers in a
streamlined MRO (maintenance, repair and operational)
procure-to-pay process.
-- Clarus(TM) Budget - a Web-based budgeting and planning
application that connects the management of operating resources
with the strategic planning of the business on a real-time basis.
-- Clarus(TM) View - a new application from Clarus, is a portal
plug-in that connects decision makers with real-time key
performance indicators that facilitate proactive pinpoint action
from their desktops.
-- Clarus(TM) Fusion - a new offering from Clarus, is an integration
tool that connects Clarus Commerce real-time to ERP and suppliers
systems using open standards based technologies providing
heterogeneous, version independent integration.
More than 20 customers including MasterCard, First Data Corporation and Hyatt Regency are implementing Clarus Commerce with planned deployment to more than 70,000 employees. Atlanta-based Clarus Corporation (www.claruscorp.com) (Nasdaq: CLRS) is a pioneer and a leader in providing Web-based Commerce applications that enable organizations to gain control of their operational resources -- the non-production goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. vital to every company's operations. Clarus Commerce leverages Web technology to connect large populations of employees, management and suppliers with continuous planning, monitoring and control of resources, which can result in a dramatic impact on the bottom line. The Company's Financial, Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. and more recently -- Web-based Commerce solutions -- are deployed at more than 350 sites for customers including First Data Corporation, MasterCard International, Hyatt Regency Chicago The Hyatt Regency Chicago is a 246 foot tall Hyatt hotel on East Wacker Drive in Chicago, Illinois. The hotel operates around 2,000 guest rooms in two different towers. The towers are connected by both an above-ground skyway and an underground concourse. , T. Rowe Price T. Rowe Price (NASDAQ: TROW) is an independent global investment management firm and mutual fund manager based in Baltimore, Maryland. It was founded in 1937 by Thomas Rowe Price, Jr.. T. Associates, Inc., Investment Technology Group, Toronto Dominion dominion, power to rule, or that which is subject to rule. Before 1949 the term was used officially to describe the self-governing countries of the Commonwealth of Nations—e.g., Canada, Australia, or India. Bank, The Container Store, Blue Cross and Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. , H.D. Vest Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Lands' End
NOTE TO EDITORS: This Press Release Contains Forward-looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Within the Meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. Actual Results Could Differ Materially From Those Projected in the Forward-looking Statements as a Result of Certain Risks Including That the Benefits Expected by the Company as a Result of the Announcement May Not Occur. Clarus is a trademark of Clarus Corporation. Throughout this release, software and hardware products are mentioned by name. In most, if not all, cases, these product names are claimed as trademarks by the companies that manufacture the products. It is not our intention to claim these names or trademarks as our own. |
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