Kiwi online travel booking firm Serko has announced the launch of a new version of Serko Incharge, designed to simplify the process of reconciling corporate card and cash expenses.
The new version of Serko Incharge, which is available now, allows users to take photos of receipts using Serko Mobile and have them automatically matched to the relevant credit card transaction.
As a result the cloud-based matching technology aims to reduce the processing time required and shifts expense reconciliation from a month-end task to an ‘as-you-go’ process.
“Business people know how time consuming and frustrating submitting a corporate expense claim is,” says Darrin Grafton, CEO, Serko.
“Not only do users have to keep a copy of each receipt, but they also have to painstakingly match each receipt to their credit card statement at the end of the month before finance can process it.
“Our data shows that 18 per cent of claims get processed without a receipt, which costs organisations approximately 1 per cent of the total claim value in lost GST.
“We set out to create the best online expense management tool for capturing receipts and reconciling corporate cards, and I think we’ve succeeded.”
With the new simplified Serko Incharge reconciliation process, Gratfon says users can take a photo of their receipt at the point of purchase using Serko Mobile while accessing a feed of corporate card transaction data coming in from banks every night, a feed that is matched to the correct receipt automatically.