Startup Resources We ❤: Abacus
We’ve had the pleasure of working with some pretty killer companies over the years. In this blog series, we feature three businesses that have a lot of amazing things happening and who are game-changers in their field. We think that what they are doing is pretty awesome for entrepreneurs, startups and our communities.
Our second post in the Startup Resources We ❤ series , features a very cool company called Abacus.
Eliminate Your Expense Report –> Forever.
Abacus is the only intelligent expense management solution that companies are using to eliminate expense reports forever. Our product is a cloud-based platform that automates a company’s review and approval process, empowering busy finance teams to focus on strategic thinking instead of administrative work.
Our company was founded in 2013 to reimagine the way businesses managed expenses. It didn’t make sense that in a world where individuals had countless ways to pay one another, employees needed to submit cumbersome reports in order to get reimbursed by their companies. The problem was rooted in the expense report, a relic from a time when when the best way to get a receipt to the finance team was to tape it to a piece of paper. So we took the process apart and built an expense system from the ground up — without the expense report.
Abacus is the only solution that lets individual expenses flow into the system in real time, giving finance teams the power to customize the reports they review and approve. We use predictive analytics to learn and replicate the team’s approval workflow, and we’re always getting smarter. Our mobile app auto-populates data fields based on card transactions and receipt information, so it only shows employees the fields they need to fill out. The result is clean, accurate data that syncs seamlessly to accounting software for easy reconciliation.
Finance teams are spending less time on housekeeping and more time thinking strategically. Our team is busy developing integrations with tools like Slack and Lever to make submitting and approving expenses as immediate and automated as possible. As for the poor old expense report, none of our clients seem to miss it. Turns out they had better things to do.