GLOBALEXPENSE IS SET TO BUST EXPENSE CLAIM BUREAUCRACY Thursday 18 January 2001 PDF Print UK-based Cevas Data Systems today announces the launch of GlobalExpense, the first ever completely outsourced expense-handling service that offers cost savings and administrative streamlining way beyond the much vaunted ASP model. GlobalExpense uses the power of the Internet to break the bureaucratic paperchase associated with claiming expenses for employees and employers alike - all a user needs is a web browser and Internet access. Designed and managed by qualified accountants, GlobalExpense handles expenses and approvals online - eliminating the time-consuming and costly processes of trawling through receipts, chasing forms, reimbursing cash and reclaiming VAT. The system is configured to clients' specifications - with company rules or an individual's spending limit - which enables GlobalExpense to check the validity of claims without expense authorisers having to waste time proving data accuracy. Ashley Whittaker, founder and CEO of Cevas Data Systems said: "Cevas is delighted to introduce GlobalExpense, which is the product of almost two years' worth of research and development. We have designed the system to save time and money for everyone. It also offers an unequalled opportunity for fast, efficient and detailed information gathering to enhance management reporting and cost controls. Claiming and paying expenses is the bane of everyone's lives and GlobalExpense is designed to cut out 100% of the mind-numbing administration associated with expenses - freeing up precious time for accounts personnel to perform more satisfying tasks and at the same time ensuring staff are reimbursed promptly. "Given the complexity of taxation on employee expenses that has built-up over recent years businesses, especially medium-sized ones, have to make a concerted and expensive effort to make sure they are complying with all the regulations. If businesses don't, they may face swingeing penalty and interest demands from the Inland Revenue or Customs and Excise at their next visit." Ashley Whittaker added: "Global Expense will remove the headache from finance directors and business owners that they might be sitting on a tax time-bomb, due to expenses systems and policies that do not keep pace with changing legislation, whilst also making claiming expenses less of a chore for employees." Ralph Hulbert, the chairman of Cevas and a "business angel" who has, over the last 20 years helped 30 businesses start, said: "GlobalExpense is the first in a stable of products that Cevas will launch that will use the power and eventual ubiquity of the Internet to save time and hassle for businesses and employees. From his time as a Chartered Accountant, working with a number of businesses, Ashley saw that the web offered a better way of cutting down on financial bureaucracy whilst improving business controls, and he has provided the drive to create Cevas and make this vision a reality". GlobalExpense automatically processes the UK and international VAT associated with expenses and can distinguish between recoverable and non-recoverable VAT. The system also prepares P11D and corporation tax information and is totally compliant with UK tax laws. Cevas is working closely with the Inland Revenue and Customs and Excise to ensure that all its products provide complete and accurate compliance solutions and that GlobalExpense is updated each time legislation is changed. ends Published by Kelso Consulting on behalf of Cevas Data Systems. For more information please contact: Ashley Whittaker, CEO Cevas Data Systems 020 7298 5757 Lynn Levy or James Sheppard Kelso Consulting 020 7729 7595 Notes to Editors ·Cevas is the first company of its kind to use the web to provide an accountancy outsourcing service, potentially ridding companies of the low value, high volume administration procedures such as the processing of employee expense claims. Cevas predicts that this model will be widely employed by businesses of all sizes within two years. ·Cevas moved to new premises at The South Wing, 157 Edgware Road, London W2 at the end of last year, allowing all of its various data processing functions to take place under one roof. GlobalExpense uses the latest Microsoft technologies to enable a separation between the host servers and their application software. This technology, when employed in combination with Cisco networking architecture provides massive scalability, reliability and speed. ·Cevas Data Systems has received substantial financial backing from The Hamilton Portfolio Ltd. This press release was distributed by ResponseSource Press Release Wire on behalf of Kelso Consulting in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.