American Express business credit card holders can now shrink the amount of time they spend on expense reports, thanks to the company's new ReceiptMatch service. This online tool from American Express OPEN helps small business owners and their employees manage expenses from the road or from the office by matching receipts to credit card statements.
The service works by enabling members to upload receipts in one of three ways:
- using a mobile app to capture a photo of a receipt,
- forwarding an e-mailed receipt to a special address, or
- uploading scanned receipts from a desktop computer.
Once ReceiptMatch collects the receipt, it scans for data that matches details from a cardholder's transactions. Although similar mobile apps and online tools convert scanned receipts into searchable data, ReceiptMatch already has the latest information from a linked American Express OPEN charge card or credit card.
In a statement to reporters, American Express OPEN spokesman Doug Tabish noted that employees and account managers can review those notes and download copies of receipt images, suitable for future audits. "ReceiptMatch offers concise back-office support and is the only expense management solution that gives business owners the ability to match each expense to their OPEN Business Card statement," said Tabish.
At launch, the ReceiptMatch service will work exclusively with American Express OPEN business credit cards and charge cards. Along with ReceiptMatch, American Express OPEN cardmembers can also receive real-time spending alerts on employee cards, year-end summary statements that streamline record keeping, and account manager access for bookkeepers and business partners.