Expensify’s platform allows you to pull in your transaction records and automatically categorize them. All you need to do is register your credit cards with the platform, and the site will automatically import E-receipts. You can also take a photo of and import paper receipts. Once your transactions are in the system, you can tag expenses and then submit the expense report to your business’s bookkeeper for reimbursement.
The company allows you to upload receipts via the web, email or mobile phones and now Expensify will automatically scan the merchant, date, and purchase amount off of the receipt image, whether uploaded as a photo, as a document, or an email. If you’ve imported your credit card information, Expensify will also “associate” the receipt with the corresponding credit card transaction. Expensify will then categorize the expense (i.e. travel, food).
The startup says that intelligent receipt scanning is the top requested feature amongst users and currently, the site is processing over one million receipts. Expensify is also charging for the feature, at $0.20/receipt, with every account starting out with 10 scans for free.