Leading Expense Management Platform a Key Component of Client Accounting Services
LAS VEGAS (Dec. 5, 2016) – CPA.com is adding Expensify, an innovative leader in expense management software, to its roster of automated solutions for CPA firms.
Technology is changing the way companies – and the CPA firms that serve them – conduct business. CPA.com has helped CPAs with this transformation through business strategy, education, change management and a lineup of curated solutions for firms, but many pain points remain, including outdated methods of approving client receipts and travel expenses.
Expensify is the fastest growing company in the expense management category, and has won acclaim for the ease and functionality of its user experience. It integrates with all major accounting software applications, including Intacct, another member of CPA.com’s partner program for firm solutions.
“Expensify clients report that using Expensify can reduce time spent on receipt submissions, approvals and reimbursements by 83 percent, which is exactly the kind of pre-accounting automation that can drive real efficiency for firms and their clients,” said Erik Asgeirsson, president and CEO of CPA.com, who announced the new strategic alliance at the 2016 Digital CPA Conference. “As client accounting services mature, the importance of digitizing all inputs and outputs and getting maximum insight from data will continue to grow.”
Expensify allows CPA firms to manage client expenses and reconcile corporate credit cards in a single console using real-time, continuously updated information. Clients also benefit from Expensify’s easy-to-use mobile app with industry-leading features:
- Expensify's SmartScan OCR technology scans receipts, automatically extracts transaction data and assigns each expense to a reporting category
- Data automatically syncs with all major accounting programs
- Corporate card reconciliation automatically imports the credit card feed and merges each transaction with the corresponding receipt while flagging duplicate expenses
- Next-day direct deposit makes it easy to reimburse employees
- Unique company policies automatically analyze which expenses actually need a manager’s review, and automatically approve the rest
“CPA.com has been a key driver in the reemergence of client accounting services for firms, and we’re thrilled to partner with CPA.com to bring expense management and receipt tracking technology to a wider audience of CPAs,” said David Barrett, founder and CEO of Expensify. “We already partner with many of the nation’s largest accounting firms, many of whom are drawn to the value of being able to analyze and manage a client’s expenses in real-time. With this partnership, we are committed to CPA firms as they expand their role of the trusted advisor to include expense management for their clients.”
CPA.com offers a growing list of products and services for practice management, client advisory services and professional development. The company has established itself as a thought leader on cloud technology and has been a driving force around the reemergence of virtual CFO/controller services by firms.
The RIVIO Clearinghouse, a joint venture between CPA.com and Confirmation.com, is an online financial document clearinghouse that enables private businesses to exchange key financial information with lenders and investors.
CPA.com is a majority-owned subsidiary of the American Institute of CPAs, the world’s largest member body representing the accounting profession. For more information, visit CPA.com.
Founded in 2008, Expensify has quickly become the innovation leader in automated receipt and expense management with an easy-to-use mobile and web app. With entirely automated expense reporting processes and features such as patented SmartScan technology, company card management, and integrations with all major accounting software, Expensify has quickly grown to serve over 100,000 companies globally. Headquartered in San Francisco, Expensify recently opened offices in London and Melbourne to continue better serving customers in all time zones.