J.P. Morgan says that it will integrate IBM's expense management tools and services, IBM Global Expense Reporting Solutions, into its own corporate card solution to give companies greater control over their travel and entertainment spending. The bank says the IBM solution not only automates the process of managing T&E, but gives companies the ability to integrate their travel reservations as well. The transaction data from J.P. Morgan's corporate cards will flow into IBM's service. According to J.P. Morgan, the integrated solution will be offered to customers "at a significant discount."
Paychex, the Rochester, N.Y.-based provider of payroll and human resources outsourcing solutions, says it has a new Web page that provides businesses with information about the HIRE Act, the new federal legislation that provides companies with tax breaks for hiring unemployed people. The Web page includes a calculator that helps businesses estimate how much they could save in taxes by hiring an unemployed person. The HIRE Act gives a company that hires an unemployed person before the end of this year a break from paying the 6.2% employer share of Social Security tax for the rest of the year. Should that person remain on payroll for a full year, the employer could get an additional tax break of up to $1,000.
SuperDerivatives, a U.K.-based provider of derivatives market data, says it has launched a consulting service to help companies improve the way they report their hedging activity on their financial statements to satisfy hedge accounting requirements. According to the company, it will offer companies measuring methods including dollar-offset, linear regression, critical term and scenario-based methods. SuperDerivatives says its consulting service will also provide training and a system for treasury departments, as well as interaction with the company's auditor if necessary.
XBRL US, a non-profit consortium for XML-based business reporting standards, has launched an online tool kit, the XBRL Consistency Suite, that checks for errors in XBRL-formatted financial filings. The online tool set performs more than 6,000 tests on XBRL filings and produces a report identifying specific errors, according to the consortium. It also provides access to XBRL documents already submitted to the Securities and Exchange Commission, and subscribers can use that database to check on the XBRL extensions that other companies are using. An annual subscription costs $2,500 for XBRL US members and $4,000 for non-members.
Ariba, the Sunnyvale, Calif.-based spend management company, has launched an online resource center for finance, IT, sales and marketing executives trying to get their companies back on track after the recession. The online center, titled the Ariba New Normal Competitive Advantage Game Plan Center, offers custom strategy templates, podcasts, webinars, white papers and industry research, the company says.