Software as a Service automates expense reporting process.

Press Release Summary:

Centralized on web-hosted server, TripsWare(TM): Travel Reimbursement for Investment Professionals System provides online expense management for private equity and small to medium-sized investment firms. It helps manage expenses incurred during fundraising, due diligence, and portfolio company oversight, as well as general Management Company overhead expenses. SaaS can also detect fraud, identify maverick spending, and optimize analysis for vendor negotiations.

Original Press Release:

TripsWare(TM) Offers New Expense Management Solution for Private Equity and Investment Firms

PLEASANTVILLE, N.Y., April 25 /-- Paragon Computer Solutions, a New York based technology firm, announced today the official launching of TripsWare(TM): Travel Reimbursement for Investment Professionals System, a new online expense management solution designed for private equity and investment firms.

TripsWare(TM) works with small to medium-sized investment firms that want to automate their Travel & Entertainment (T&E) expense reporting process. Focusing on the particular nuances of T&E management for private equity firms, TripsWare helps firms manage expenses incurred during fundraising, due diligence and portfolio company oversight as well as general Management Company overhead expenses.

Most investment firms have employees who either travel or incur corporate expenses in the course of everyday business. Tracking these expenses, reimbursing employees and reconciling the corporate accounts is becoming more and more challenging. Client bill-back adds another level of complexity.

Automating T&E reporting can add efficiencies such as improved speed, accuracy and better spend management insight. Other benefits include detecting fraud, identifying maverick spending and improving analysis for vendor negotiations, as well as increasing employee satisfaction.

TripsWare's online solution is part of a growing trend in software development known as Software as a Service or Saas. Whereas traditional software deployment involves installing an application at the desktop or server level, SaaS solutions are centralized on a web-hosted server. The service provider performs all maintenance and upgrades. The only thing an end user needs to access the system is an internet connection and web browser.

TripsWare(TM) was designed in response to a need identified in the private equity space, where firms generally have low numbers of employees compared to the dollars under management. "It really comes down to operational efficiency," says Paragon's founder, Noel Furniss. "If you have employees who regularly incur T&E expenses, off-loading transactional functions such as expense management and enabling employees to focus on higher value analytical activities makes good business sense."

About Paragon Computer Solutions.
TripsWare(TM) is owned and operated by Paragon Computer Solutions, which has been providing bespoke business solutions for the Private Equity field since 1997. Paragon's principal and founder is Noel J. Furniss, who worked for five years at Welsh, Carson, Anderson and Stowe, a large Private Equity firm in New York.

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