MINNEAPOLIS -- Gelco Information Network, a company specializing in
Web-based travel expense management and trade management, split
into two separate companies.
The Gelco Trade Management Group will specialize in managing the
flow of money for firms that sell consumer-packaged goods. The
Gelco Expense Management Group will focus on business travel
expenditures and reimbursement.
Jon Klem, chief executive officer of the Expense Management
Group, said forming two entities was logical because each division
has its own customer base, different marketing strategies and
separate distribution channels.
"This is the optimal strategic move for Gelco," said Klem. "It
allows each management team to focus on industry-specific
solutions."
For expense management, Gelco has two Web-based product
offerings for customers, ExpenseLink and Travel Manager. Both are
hosted by Gelco, meaning that all transactions are routed to
Gelco's processing center.
Klem said ExpenseLink is generally geared toward the commercial
traveler in the private sector.
Gelco's public sector clients, which include the Department of
Defense and the State Department, usually opt for Travel Manager, a
program that places emphasis on pre-trip planning and approval.
Klem said that the Expense Management Group processes $4 billion
per year
in expense reimbursement. He also said that the firm processes 8
million transations per year through its e-business
infrastructure.
In all, the Expense Management Group has 1,200 accounts that use
ExpenseLink and 115 public-sector accounts that use Travel Manager,
said Klem.