ExpenseWire®

Wooster, OH - August 17, 2009

ExpenseWire, a Rearden Commerce company, and leading provider of on-demand expense management software, today reported that it has seen an uptick in corporate spending as organizations increased their investments in SaaS-based solutions that deliver increased cost savings and efficiency over time. On average the monthly amount expensed by its current customers increased by 30 percent in the past year. Additionally, the company reported that its customers' report submissions grew 207% since mid-2008, indicating that savvy small businesses are committed to the notion of "spending to save" and using the application more frequently.

"Our high penetration affirms that the small business market is increasingly gaining confidence in SaaS solutions," said Andrew Vaeth, CEO of ExpenseWire. "Our expense reporting solution is an excellent complement to several accounting, travel and human resources software solutions currently on the market. Looking to Q3 and Q4, we hope to continue partnering with complementary businesses, expanding our footprint, while providing businesses with a way to streamline the expense reporting process."

Given ExpenseWire's broad base of customers, the company has unique insight into expense trending across organizations of all sizes. For example, hotels and flights remain the top expenditures for employees across all organizations. Dining, an expense category that is frequently overlooked, comes in third. Typically these three spending categories amount to between 50 and 70 percent of a company's total employee expenditures, and on average employees across all sizes of organizations expense between $1,900 and $2,600 a month, which is on par with this time last year.

"ExpenseWire has absolutely exceeded our expectations. Coming from a paper-based system, I couldn't have imagined it would save me so much time. I would never go back to managing expense reports by hand," said Matt Hall, accounting manager at DAXKO. "We expect to see a bottom-line savings as a result of the improved productivity ExpenseWire has enabled."

Additionally, ExpenseWire's continued growth can be attributed to the expansion of its successful partner ecosystem. Partners elect to integrate with ExpenseWire to deliver complete Web services solutions that include robust expense management software. ExpenseWire has experienced a vast acceleration of growth within the small-mid business market; some of its new customers include, Bay Valley Foods, DAXKO, Learning Care Group, SIRVA Inc., Zimmer Southwest, Inc. Unlike most expense management solutions, ExpenseWire can be rapidly deployed so customers can see cost savings and productivity results immediately.

ExpenseWire's expense management solution, natively designed for the small to medium business market, is available as an independent or combined solution on the Rearden Commerce™ Platform. Together, ExpenseWire and Rearden Commerce seamlessly integrate to offer small to medium sized businesses a complete Web services and expense solution that automates the entire expense reporting lifecycle – from capturing and submitting, to approving, managing, reimbursing and planning.

About ExpenseWire

Completely web-based, the With ExpenseWire® expense-management solution automates the entire expense reporting lifecycle – from capturing and submitting, to approving, managing, reimbursing, and planning. It is the fastest solution to deploy and the easiest to use, and integrates seamlessly with existing systems – including personal and corporate credit cards, on-line travel tools, accounting systems and more.

With ExpenseWire®, employees can electronically submit and approve expense reports without the hassle of spreadsheets or wasteful printouts. Reports are automatically populated with travel and services booked through your online booking tool, as well as expenses from corporate cards or personal credit/debit cards. The entire process, from receipt scanning to reimbursement, is simple and quick. It eliminates the headache and wasted productivity of traditional expense reporting processes.

ExpenseWire is a Rearden Commerce company; to learn more, please visit expensewire.com.