SKO
06/05/2015 08:31
GENERAL
NOT PRICE SENSITIVE
REL: 0831 HRS Serko Limited
GENERAL: SKO: Serko Incharge Simplifies Corporate Expense Reconcilliation
Market Release
6 May 2015
Serko Incharge Simplifies Corporate Expense Reconciliation
New version of Serko Incharge automatically matches receipts to credit card
transactions to streamline expense reconciliation process
Serko Limited (NZX:SKO), the Australasian leader in online travel booking and
expense management for business, has announced the launch of a new version of
Serko Incharge, which radically simplifies the process of reconciling
corporate card and cash expenses.
The new version of Serko Incharge, which is available now, allows users to
take photos of receipts using Serko Mobile and have them automatically
matched to the relevant credit card transaction. The cloud-based matching
technology drastically reduces the processing time required and shifts
expense reconciliation from a month-end task to an 'as-you-go' process.
Darrin Grafton, CEO at Serko said "Business people know how time consuming
and frustrating submitting a corporate expense claim is. Not only do users
have to keep a copy of each receipt, but they also have to painstakingly
match each receipt to their credit card statement at the end of the month
before finance can process it".
"Our data shows that 18 per cent of claims get processed without a receipt,
which costs organisations approximately 1 per cent of the total claim value
in lost GST. We set out to create the best online expense management tool for
capturing receipts and reconciling corporate cards, and I think we've
succeeded."
With the new simplified Serko Incharge reconciliation process:
- Users can take a photo of their receipt at the point of purchase using
Serko Mobile
- Relevant data - such as price, vendor and data - is extracted from the
receipt in near real-time using Optical Character Recognition (OCR)
technology
- A feed of corporate card transaction data comes in from banks every night
and is matched to the correct receipt automatically
- Users then simply add any other relevant information, code the expense
appropriately and submit for approval
To see Serko Incharge in action watch the product launch video at
https://vimeo.com/126450568.
ENDS
For investor relations queries please contact:
Tim Bluett, Chief Financial Officer, Serko
+64 9 309 4754
[email protected]
For media queries please contact:
Natasha Gillooly, Porter Novelli for Serko,
+ 64 21 915 297
[email protected]
About Serko
Serko is Australasia's leading online travel booking and expense management
company for businesses and is listed on the New Zealand Stock Exchange Main
Board (SKO.NZ). With its HQ in Auckland New Zealand, and with offices in
Sydney Australia, Xi'an City China and Gurgaon, India, Serko employs more
than 130 people worldwide.
Serko Online is an integrated Online Booking Tool used by administrators and
travellers to book flights, accommodation and car hire from the broadest
possible set of travel providers. The OBT ensures that travel bookings comply
with corporate travel management policy without limiting the user's choice of
travel provider.
Visit www.serko.com for more information
End CA:00263947 For:SKO Type:GENERAL Time:2015-05-06 08:31:05
