Users simply snap a photo of a receipt with their smartphone on the go and ExpenseIt automatically turns the receipt into an expense.
It will definitely come in handy as a time-saving alternative for the 52 per cent of people, who according to research conducted by Concur in 2013, are still using manual or paper-based expense reporting.
I guess it’s adios to Excel spreadsheets and ledgers…
How does ExpenseIt work?
Once a user takes a photo of a receipt from a smartphone, ExpenseIt uses a combination of people and technology to accurately create the expense – and match it with the corresponding expense category and credit card transaction in Concur Expense.
It also itemises hotel bills and captures digital receipts sent to [email protected].
Since launching in the US at the end of 2013, ExpenseIt has turned more than a quarter of a million receipt images into expense reports for several companies, both small and large.
Because employees are capturing expenses on the go, the companies get a closer to real-time view into spending. And by making reporting easier, the app puts time back into the employees’ day to focus on more important work.
Synchronised alerts for American Express Card members
To make keeping track of expenses even easier, American Express Corporate Card members that use ExpenseIt and Concur Expense can receive synchronised alerts reminding them to snap a photo of their receipt moments after swiping their card.
Concur was the first company to integrate American Express’ transaction alerts when the feature became available in the US via ExpenseIt in early 2014.
Since then, ExpenseIt has sent more than 25,000 of these reminders to American Express Card members and this is now available for Aussie users too.
Jay Cary, Vice President, Digital, Global Corporate Payments at American Express, revealed that when their clients add Concur to their American Express Corporate Card program, they consolidate 10 percent more spend than they did with their previous expense processes.
ExpenseIt is available now for Concur customers to download.
No more manual expense reports? Read this in your best Jean Luc Picard voice, “Make it so!”
Watch ExpenseIT in action