Convercent Joins Concur App Center

DENVER, CO--(Marketwired - Oct 3, 2017) - Convercent today announced the integration of its Ethics Cloud Platform™ with Concur®, the leading provider of travel, expense and invoice management solutions. The Convercent Disclosures application now includes additional functionality for Gifts, Travel and Entertainment (GT&E). It provides a powerful way to ensure employee compliance with codes of ethics and conduct during business travel, as well as safeguard companies from regulatory scrutiny and enforcement action.

"Ethics & compliance policies are essential, but they simply aren't enough. To maximize the effectiveness of any ethics & compliance program, companies must address issues, like conflicts of interest, holistically and proactively," said Patrick Quinlan, CEO of Convercent. "Our integration with a leading software provider like Concur will not only deliver more granular data to our customers, but also actionable insights that maximize program impact, prevent COIs and empower leaders to truly drive ethics & compliance to the center of their organizations."

According to the US Department of Justice, next to cash bribes, GT&E are the single most tangible form of conflict of interest (COI). GT&E is also one of the most commonly addressed COIs across all companies, regardless of size, geographic reach, or industry. And while GT&E can help build strong relationships with various business partners, it also has the potential to create COIs, or at least the appearance of a conflict.

"There are unique and continually changing compliance and regulatory rules in every market," said John Gibbon, Senior Vice President of Platform at Concur. "Convercent's Ethics Cloud Platform in the Concur App Center will help businesses keep up with the growing demands of global business travel, while empowering travelers with critical information they need to know while they're on the road."

To date, a company's ability to take in and monitor disclosures of gifts, travel and entertainment has been limited to manual entry of incomplete information from employees and tedious reconciliation of all expenses by compliance teams. Companies have also struggled to deliver need-to-know ethics & compliance information in a digestible, tailored format to keep high risk ethics and compliance issues top of mind, often relying on annual trainings that are easily forgotten and outdated.