Serko Incharge Radically Simplifies Corporate Expense Reconciliation
New version of Serko Incharge automatically matches receipts to credit card transactions to streamline expense
reconciliation process
Auckland, New Zealand. 6th May 2015 – Serko Ltd. (SKO.NZ), the Australasian leader in online travel booking and expense management for business, has announced the launch of a
new version of Serko Incharge, which radically simplifies 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. The cloud-based matching technology
drastically reduces the processing time required and shifts expense reconciliation from a month-end task to an
‘as-you-go’ process.
Darrin Grafton, CEO at Serko said “Business people know how time consuming and frustrating submitting a corporate
expense claim is. 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:
• Users can take a photo of their receipt at the point of purchase using Serko Mobile
•
• Relevant data – such as price, vendor and data - is extracted from the receipt in near real-time using Optical
Character Recognition (OCR) technology
•
• A feed of corporate card transaction data comes in from banks every night and is matched to the correct receipt
automatically
•
• Users then simply add any other relevant information, code the expense appropriately and submit for approval
To see Serko Incharge in action watch the product launch video here.
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