To change how companies supervise and reconcile receipts for their purchases, Bento for Business has rolled out a new collection of technology improvements. One of the updates, AutoMatch, harnesses artificial intelligence (AI) to connect the image of a receipt captured on mobile to the matching transaction, according to an announcement.
"Bento for Business has built an incredibly intuitive product that directly addresses the core cash flow and operational problems faced by the businesses that drive much of our economy, create jobs and help build our communities," Bento CEO Guido Schulz said in the announcement. "Now more than ever, spend management is the single largest area of opportunity for our customers to improve their cash position."
The technology now allows users to send a digital receipt from a Bento-registered email account to a set email address to automatically link the receipt to the appropriate transaction. It will also send a reminder at the start of each month — for transactions that occurred the month before — to those who have cards and did not send receipts in compliance with each company's procedures.
The technology also lets users send in receipts when they are offline. Users can capture images of their receipts whenever it is convenient for them and later send those images straight from their image folder or library when they can log into the program.
In separate news, Brex joined forces with SAP Concur to allow customers to automatically update and reconcile credit card expenses via Concur® Expense. Brex card activity is shown without intervention on Concur Expense through an integration that enables reconciliation to happen daily and enables “automated accounting software synchronization” to take place. In addition, the technology lets users view expenditures in a single location in order to make better financial decisions and eliminate manual tasks.