Friday 8 May 2020

Three PC and Mobile Receipt Scanning Software Programs for SMEs

If we’re honest, we’d all like to be more organised than we are. Generally, this isn’t just a trait limited to one set demographic, it’s something that transcends everyone’s life. Ask your colleagues, family, friends or neighbours and the honest answer will probably be something like, ‘I’m organised, I think. But, I could be better.’

Our organisational skills (or lack thereof, in some cases) are highlighted when it comes to keeping track of our expenses. Unless you have already invested in a receipt scanner, the odds are that your professional or personal receipts are stuffed in a drawer, stacked precariously on shelves or have become forgotten, having been left in your wallet.

However, if you’re frustrated and finding it difficult to be organised, don’t despair there is a solution. An OCR receipt scanner can be the answer to your problems, helping you to keep track of your expenditure and better budget for the future.

Here’s a look at three PC and mobile receipt scanning programs that could help you to transform your finances and change your life.

Receipt Bank

Trusted by accountants, Receipt Bank is one receipt scanner that has a superlative reputation. Perfect for SMEs, Receipt Bank has plenty of useful features. Users can scan receipts on the go using the mobile app or transfer files using Dropbox, via email or through a simple drag and drop interface.

Receipt Bank features an OCR receipt scanner that proficiently extracts relevant data from receipts or documents, diligently organises the relevant information and makes it as easy as possible to share data with a bookkeeper or accountant – all you need to do is to take a picture!

Posting your receipts to receipts to the allotted field on the Receipt Bank website automatically synchs each to your accounting software. This can make it very easy to meticulously calculate expenses and reimbursements for your employees and provides you added peace of mind that vital data can be saved, stored and easily accessed.

IQBoxy Expenses (update - this is no longer a recommended option)

A simple and affordable receipt scanner, IQBoxy is also feature-rich. Users can scan, email or upload their receipts, or even dictate information through Apple Watch. Not only that, IQBoxy regularly updates its technology to ensure optimal automation.

Customers can choose either a free account or pay to subscribe and unlock extra features. The free account offers basic receipt scanning and storage capabilities. Subscribes have scan receipts and documents until their heart’s content, track their journey length and expenses with mileage tracking and create expense reports.

Subscribers of IQBoxy Expenses can also fully integrate the software with QuickBooks Online to streamline and simplify bookkeeping.

Xpenditure (update - this is no longer a recommended option)

In addition to efficiently tracking your expenses, Xpenditure has a wealth of features that makes keeping control of your personal or commercial finances a cinch.

The expense management tool can be easily integrated with QuickBooks Online for seamless expense reporting. Not only that, Xpenditure features a meticulous in-built OCR receipt scanner and features the option of having an account for up to 1,000 users.

The basic monthly subscription supports up to 15 users, making Xpenditure ideal for small businesses with mobile teams or field-based employees. Users also have the option of upgrading to Xpenditure Pro for a negligible extra cost per month.

Able to manage the expenses of a larger workforce, Xpenditure Pro integrates an expense approval process that saves time and amplifies the reimbursement process. Perfect for managing the finer details of any business trip, Xpenditure Pro allows users to record hotel and flight reservations with ease.

These are just three examples of superior receipt scanning software programs for SMEs. If you’re looking to tighten your business finances or maximise profit whilst streamline processes, any one of the above software is bound to help.

Update: New Leader of the Pack in Receipt Scanning OCR Technology Tabscanner  

Tabscanner's OCR technology is worth considering if you are a software developer which needs a receipt scanning API. The company claims to be the most accurate receipt scanning technology in the world. See the video below for more details: