Copyright © 2018 XpenseOne
The Aite Group research shows small and medium sized businesses (SMBs) are going elsewhere for cash management products and services. From payments to expense tracking tools, banks are seeing business customer attrition and missing out on lost revenue simply because banks do not have the cash management products businesses need and are willing to pay for. XpenseOne's bank branded solution enables banks to win back lost loyalty and maximize the value of their business customers.
SMBs continue to look for expense and cash management solutions that help manage their business. Unfortunately, 70% of SMBs still use Excel, scotch tape and copy machines to create-approve-reconcile expenses. Others go elsewhere for third party solutions and pay a premium for functionality that far exceeds their needs. This is a huge opportunity for banks to jump in and solve their problem.
XpenseOne is a bank-branded expense management solution used to capture receipts, process approvals in seconds, and quickly reconcile expenses for accounting. The first expense management solution that's integrated within users online-banking portal for an ultimate user experience.
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XpenseOne's solution integrates into a banks cash management platform for an enhanced user experience. SMBs demand a singular user experience where they can manage expenses, pay vendors, reimburse employees, etc. Integration allows XpenseOne to deliver rich mobile and workflow capabilities including faster reimbursements, automated reconciliation and real-time transaction notifications. A one of a kind expense management platform driving higher retention, revenue and new customer acquisition.
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XpenseOne positions your bank at the center of your business customers expense report creation, management and reconciliation process. A solution that Aite Group continues to report SMBs are willing to pay for resulting in significant revenue potential for banks.
Your business card linked with XpenseOne streamlines and automates the expense management processes from start to finish. Card usage data helps banks engage with SMBs driving higher card adoption becoming the top of wallet choice. Being the card of choice becomes obvious and the only option for company employees, resulting in higher interchange revenue.
A study done by Fiserv shows the average life-cycle of a customer increases anywhere from 200% to 400% with each additional product offered and used. Let XpenseOne be that additional product you add to your cash management suite and see how your customers will love you for solving their expense management problems. With automated reconciliation, business card controls, ACH reimbursements and receipt storage within the business online banking, you can expect customers for life.
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XpenseOne was built specifically for small and medium-sized businesses. By partnering exclusively with banks, expense reporting becomes commoditized so there are no barriers to making XpenseOne available to all your commercial customers.
We believe expense management will become the next business banking standard enabling banks to maximize their cash management value.
Copyright © 2018 XpenseOne