Gelco

Gelco was a business process management company specializing in employee expense management. It is now part of Concur Technologies.

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 States as a telegraph operator, cashier, bookkeeper, and cattle rancher, created a company named the National Debtor Record Company.

Subject ID: 115590

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Gelco was a business process management company specializing in employee expense management. It is now part of Concur Technologies.

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 States as a telegraph operator, cashier, bookkeeper, and cattle rancher, created a company named the National Debtor Record Company.

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. In 1987 Gelco Payment Systems released their first PC/DOS-based software package for expense management called Vectr, providing their customers an automated solution to accept and process electronic bank draft transactions on their desktop. That same year, Gelco Payment Systems became a privately held company and changed its name again to Gelco PayNetwork. The Harper Group then acquired Gelco and formed 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 2007, H-G Holdings and its subsidiaries, including Gelco Information Network, were acquired by Concur Technologies.

Subject ID: 115590

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