Gelco
Encyclopedia
Gelco is a business process management
company specializing in employee expense
management.
as a telegraph operator, cashier
, bookkeeper and cattle rancher, created a company named the National Debtor Record Company
The National Debtor Record Company introduced a nationwide hotel
credit service named Credit Letter and it successor the TravelCard designed to meet the needs of the increasingly mobile sales force and rapid business expansion around the turn of that century. In 1941, the company changed its name to Traveletter Corporation and introduced the Traveletter service. In 1965, the Traveletter Corporation began a service managing trade promotion funds (the monies paid to retailers to promote a manufacturers product).
Walz sold the Traveletter Corporation in 1972 to the General Equipment Leasing Corporation (Gelco), which moved the company headquarters from Connecticut
to Minnesota
. In 1981, Gelco changed the former Traveletter Corporation business to Gelco Payment Systems. In 1986, General Electric Capital bought Gelco Payment Systems; one year later, Gelco Payment Systems became a privately held company and changed its name again to Gelco PayNetwork. The Harper Group then acquired Gelco and forms H-G Holdings, Inc. In 1995 Gelco acquired Federal Software Inc and their civilian federal government travel services Travel Lightning and Travel Manager. Gelco PayNetwork changed its name to Gelco Information Network (comprising Gelco Expense Network and Gelco Promotion Network) and released its third PC-based automated expense reporting system, ExpenseLink in 1996. In the later 1990s Gelco released these products delivered as software as a service
.
In 2000, Gelco Information Network announced that the company's two operational groups, Trade Management and Expense Management, would operate as separate companies as the Gelco Trade Management Group and the Gelco Expense Management Group. Gelco Expense Management has thousands of clients worldwide representing over 625,000 users of their on-demand services, processing over 9 million transactions and making over $7 billion in payments annually.
In 2007, H-G Holdings and its subsidiaries, including Gelco Information Network, were acquired by Concur Technologies
.
Business process management
Business process management is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. BPM attempts to...
company specializing in employee expense
Expense
In common usage, an expense or expenditure is an outflow of money to another person or group to pay for an item or service, or for a category of costs. For a tenant, rent is an expense. For students or parents, tuition is an expense. Buying food, clothing, furniture or an automobile is often...
management.
History
In 1894 Edgar A. Walz set out to solve a financial dilemma of the times: the proliferation of debtors in the business travel industry known as "beats" who would skip out before paying their lodging bills. Walz, who had traveled the southwest United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
as a telegraph operator, cashier
Cashier
Cashier is an occupation focused on the handling of cash money.- Retail :In a shop, a cashier is a person who scans the goods through a machine called a cash register that the consumer wishes to purchase at the retail store. After all of the goods have been scanned, the cashier then collects...
, bookkeeper and cattle rancher, created a company named the National Debtor Record Company
The National Debtor Record Company introduced a nationwide hotel
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
credit service named Credit Letter and it successor the TravelCard designed to meet the needs of the increasingly mobile sales force and rapid business expansion around the turn of that century. In 1941, the company changed its name to Traveletter Corporation and introduced the Traveletter service. In 1965, the Traveletter Corporation began a service managing trade promotion funds (the monies paid to retailers to promote a manufacturers product).
Walz sold the Traveletter Corporation in 1972 to the General Equipment Leasing Corporation (Gelco), which moved the company headquarters from Connecticut
Connecticut
Connecticut is a state in the New England region of the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and the state of New York to the west and the south .Connecticut is named for the Connecticut River, the major U.S. river that approximately...
to Minnesota
Minnesota
Minnesota is a U.S. state located in the Midwestern United States. The twelfth largest state of the U.S., it is the twenty-first most populous, with 5.3 million residents. Minnesota was carved out of the eastern half of the Minnesota Territory and admitted to the Union as the thirty-second state...
. In 1981, Gelco changed the former Traveletter Corporation business to Gelco Payment Systems. In 1986, General Electric Capital bought Gelco Payment Systems; one year later, Gelco Payment Systems became a privately held company and changed its name again to Gelco PayNetwork. The Harper Group then acquired Gelco and forms H-G Holdings, Inc. In 1995 Gelco acquired Federal Software Inc and their civilian federal government travel services Travel Lightning and Travel Manager. Gelco PayNetwork changed its name to Gelco Information Network (comprising Gelco Expense Network and Gelco Promotion Network) and released its third PC-based automated expense reporting system, ExpenseLink in 1996. In the later 1990s Gelco released these products delivered as software as a service
Software as a Service
Software as a service , sometimes referred to as "on-demand software," is a software delivery model in which software and its associated data are hosted centrally and are typically accessed by users using a thin client, normally using a web browser over the Internet.SaaS has become a common...
.
In 2000, Gelco Information Network announced that the company's two operational groups, Trade Management and Expense Management, would operate as separate companies as the Gelco Trade Management Group and the Gelco Expense Management Group. Gelco Expense Management has thousands of clients worldwide representing over 625,000 users of their on-demand services, processing over 9 million transactions and making over $7 billion in payments annually.
In 2007, H-G Holdings and its subsidiaries, including Gelco Information Network, were acquired by Concur Technologies
Concur Technologies
Concur Technologies is a provider of software solutions that automate employee spending management. Its headquarters is in Redmond, Washington, U.S.A.-Current status:More than 10,000 clients in over 90 countries use Concur’s solutions...
.