Bento for Business launches new features; leveraging AI for expense receipt management

By Pavithra R

Bento for Business, an expense management platform provider for small and mid-sized businesses (SMBs), has announced the launch of a suite of new platform enhancements that transforms how businesses manage and reconcile expense receipts.

The FinTech is leveraging artificial intelligence for its AutoMatch to automatically match the picture of a receipt taken by any mobile device to the corresponding transaction, reducing the time normally spent cross-referencing receipts to transactions.

Bento has also added a new feature allowing individuals to organize and reconcile digital receipts by forwarding the digital receipt from their email account registered with Bento to a designated email address. Bento will then automatically match it to the correct transaction.

“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. Now more than ever, spend management is the single largest area of opportunity for our customers to improve their cash position,” said Guido Schulz, CEO of Bento.

Bento, built with the mission to consistently deliver ways to create efficiencies for finance teams, business owners, and employees, is now sending reminder emails automatically at the beginning of each month for prior month transactions to all cardholders that did not upload receipts in accordance with individual business policies. The firm has also eliminated the need for users to be online to upload receipts. Users can take pictures of their receipts according to their convenience and can upload the receipt pictures directly from their photos folder/library.

Founded in 2013, San Francisco based Bento for Business helps various companies manage their spending and expenses. According to company data, Bento, to date, has saved over $85 million using the company’s controls for its customers.