B2B Payments

Microsoft Debuts Expense Management App


Microsoft is rolling out a new corporate expense management solution designed for iOS devices, the company announced on Thursday (Oct. 18).

Reports from MS Power User said Microsoft’s MileIQ unit is rolling out Spend, a business expense tracking solution for Apple mobile devices that automates data entry by linking into users’ bank accounts and cards. Purchases can be categorized as business or personal spend, while users can also add custom tags to purchases. The platform also supports photo capture of receipts to include with expense reports.

“Keeping, sorting and tracking paper receipts is annoying and inefficient,” Microsoft Product Manager for Spend Heman Chawda said in a statement. “Spend uses intelligence features to bring receipt and expense tracking to the modern era.”

Spend supports automated expense tracking for streamlined expense reports and reimbursements, as well as for tax filing purposes, the company said. Receipt data can be automatically matched to expenses, along with other features.

Earlier this year, Microsoft integrated peer-to-peer (P2P) payment functionality on its Kaizala solution in India, an enterprise communications platform. The enhancement supports employee expense reimbursements as well as micropayment disbursement and payment to employees for travel allowances to support mobile workforces, Microsoft said at the time.

Beyond expense management, Microsoft’s other B2B solutions include a recent collaboration with KPMG Australia to debut WIISE, a platform for small businesses to manage a range of processes including payroll, inventory, banking and accounting. The solution, developed with the Commonwealth Bank of Australia, is set to go live next year.

“As businesses mature, they need business applications that make their business simpler to run and faster to grow, but without the complexity of deploying large, expensive ERP solutions,” said Microsoft Business Applications and Industry Corporate Vice President Alysa Taylor in a statement in July.

Microsoft and KPMG also recently collaborated on a healthcare data analytics platform, dubbed KPMG Azure.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.