CORRECTING and REPLACING DATABASICS and Cornerstone to Deliver Travel Procurement and Expense Management Suite

RESTON, Va.--(BUSINESS WIRE)--Last sentence of the third graph should read: DATABASICS... (sted: DATBASICS...)

“Integration is the new innovation and this integration project with DATABASICS is a perfect example of how two technology companies can work together to provide a flexible and scalable solution that meets the unique needs of the market”

The corrected release reads:

DATABASICS AND CORNERSTONE TO DELIVER TRAVEL PROCUREMENT AND EXPENSE MANAGEMENT SUITE

DATABASICS to Help Businesses Better Manage Travel Spend; Cornerstone Continues to Partner with Leading Technology Providers

DATABASICS (www.data-basics.com) and Cornerstone Information Systems (www.ciswired.com) today announced the integration of DATABASICS’ Expense Reporting with Cornerstone’s iBank data management platform. The DATABASICS-Cornerstone integration will help businesses better manage travel spend by broadening the range of reservation activity available for automated reconciliation and processing with the final expenses submitted by travelers.

The key advantage that the DATABASICS-Cornerstone collaboration represents is the ability for customers with multiple travel providers to capture booked data from multiple sources in their expense reporting system. The integration will help solve the problem that many travel programs experience when trying to consolidate and reconcile the dynamic environment of travel booking with their corporate expense reporting platform.

Single source end-to-end solutions that help a company manage their travel spend from booking to expense reporting are challenged when a customer uses multiple booking tools and providers. The iBank and DATABASICS Expense Reporting integration is specially designed for the “real world” of multi-source reservations. The integration allows companies to quickly and accurately process travel expenses. Upon the customer’s direction and schedule, Cornerstone, via iBank, will transfer booked travel data via a secure XML transfer directly to DATABASICS. DATABASICS will match the iBank data with expense report data to provide a comprehensive analysis of the customer’s travel spend.

Over 300 corporate TMCs from around the world can begin to offer the advantages of the integration to their customer base. Currently over 80,000 corporations house some or all of their travel-spend data in the iBank platform.

“Organizations today have to be extremely agile to adapt to the acceleration of change. As a result, vendors need to supply the tools and services required to help enterprises respond rapidly and precisely to emerging challenges, tearing down obstacles, instead of adding restrictions with proprietary, one-size-fits-all systems,” said Alan Tyson, CEO of DATABASICS. “We are excited to be collaborating with Cornerstone to redefine reservation and expense reporting integration. Not only are we offering a new and better approach but we are freeing the customer to choose booking engines and expense reporting systems on their own, individual merits.”

“Integration is the new innovation and this integration project with DATABASICS is a perfect example of how two technology companies can work together to provide a flexible and scalable solution that meets the unique needs of the market,” said Jon Keep, Cornerstone’s Vice President of Sales and Strategic Alliances.

DATABASICS (Booth #601) and Cornerstone (Booth #612) will be attending NBTA in Houston, Texas, August 8-11, 2010. Visit both companies’ booths to learn more information about the integration.

ABOUT DATABASICS

DATABASICS’ Expense Reporting is the expense management solution for the agile enterprise. First introduced in 1997, DATABASICS’ Expense Reporting is the industry’s most comprehensive, flexible, and fully-integrated expense reporting solution available.

DATABASICS products are used across many industries including high tech, financial services, healthcare, manufacturing, government, and defense, enabling organizations to significantly increase efficiency and profitability by reducing the time and overhead costs of managing travel expense policies. For more information, visit: www.data-basics.com.

ABOUT CORNERSTONE

Cornerstone is a technology and professional services company helping more than 550 travel management companies, corporate travel departments, and online travel agencies work more efficiently and more profitably. Founded in 1992, Cornerstone has specialized in creating innovative applications that automate many of the most complex and time-intensive aspects of the reservation management process. Cornerstone is a privately held company based in Bloomington, Indiana with personnel in nine locations worldwide. More information is available at www.ciswired.com