Does your wallet always feel bulky with all the receipts you constantly lug around? Further, are you worried that lost receipts would translate into lost money?
We have news for you.
Finally, the day has come where you can forget about lost, crumpled, or buried receipts. Receipts are small, difficult to find, and hard to track. We get it.
But why do you want to burden yourself, while technology can save the day?
Today, scanning receipts have gotten easier than ever. You can simply scan and upload your receipts, whenever, wherever. Scanning receipts and eliminating manual data entry play a vital role in helping businesses streamline their expense management.
Moreover, with the right expense management software, you can also automate all your mundane tasks related to travel and expense management, thereby saving time, money, and manpower.
In this article, we discuss how receipt scanners can benefit employees and businesses. We also list out the essential must-have features in a receipt scanner. Lastly, we list our top 5 picks in the market today.
Here’s how scanning receipts can help your employees:
- Enables tracking of receipts on-the-go
- Digitally stores all your receipts
- Paperless recording and documenting of expenses
- Eliminates the chance of losing receipts and thereby money
- Centralizes your business receipt management
- Helps you gain insight into your business spends
Here’s how digital receipts can help your organization:
- Eliminates the worry of handling paper receipts
- Improves team productivity and efficiency
- Eases the reimbursement process
- Saves time by automating the process of receipt and expense management
Keeping an active track of employee spends can be a daunting task. It becomes a particularly challenging task when there are multiple spends to keep a tab on. These spends could be on vendor invoices, utilities, office events, and more. To help put an end to the problem, businesses are now actively adopting technology-driven apps to help ease out the process. Receipt scanners help businesses, do just the same.
Must-have features of an ideal receipt scanner app
Every organization has different needs when it comes to managing business receipts. While picking an app, ensure that the app you select, complements your business needs. With the multitudes of options present in the market today, it can get confusing to make your pick.
To help you pick wisely, we at Fyle, have listed the features an ideal receipt scanner app for business expenses must have:
- Perfect or near-perfect OCR (Optical Character Recognition)
- Real-time detection of duplicate expenses
- Automatic extraction of data such as category and merchant
- Accurate detection of receipt data utilizing minimal time
- Unlimited cloud storage for digital receipts
- Insights into spending trends, categories, patterns and more
- Seamless integrations with other accounting software
- Effortless customization to suit your organization’s needs
- Agnostic access irrespective of device, be it a mobile OS or web application
- 24/7 customer service
Embracing Expense Reporting and Submission in 2019
Receipt scanner apps for your business expenses
The internet is filled with millions of applications to help ease out your day. Finding the app that best suits for business needs require Herculean efforts.. After weighing out the pros and cons, here’s our pick:
SCAN BOT – Average User Rating- 4.5
- Scanbot can decipher required receipt details, thereby eliminating need for manual data entry.
- It can recognize PDF receipts and can help convert receipts into any other document extension.
- It has cloud support, user-friendly UI, and multiple sharing options.
Pricing: Tiered pricing at $3.99,$6.99,$8.99
USER REVIEW- “ScanBot is a Swiss Army Knife of scanning tools, with reliable image capture, text recognition, and document annotation.”
OFFICE LENS- Average User Rating- 4.7
- Office Lens not only scans receipts but also trims, enhances, and makes pictures of whiteboards and “readable” docs.
- You can also use Office Lens to convert images to PDF, Word, and PowerPoint files.
- You can even save images to OneNote or OneDrive.
USER REVIEW- “Microsoft Office Lens scans documents, cards, and whiteboards with your Android phone, making them more readable, and in some cases editable.”
QUICKBOOKS BY INTUIT- Average User Rating- 4.5
- Quickbooks, not only allows users to scan receipts but also helps them manage and track their business expenses.
- Quickbooks also enables users to attach receipts to invoices when filing expense reports.
- It provides a wholesome approach to seamlessly managing and tracking business expenses.
Pricing – Tiered pricing at $15,$23,$31
USER REVIEW- “QuickBooks Online is the best accounting software overall because it’s an intuitive, feature-rich accounting system that can support the needs of most small and mid-size businesses. Apps allow further customization as needed.”
GENIUS SCAN- Average User Ratings- 4.7
- Genius Scan helps users digitize millions of documents on-the-go every day.
- It can automatically detect your document, apply the perspective correction and also enhance color.
- It also has a feature called “batch scanning” for bulk scanning.
Pricing- $2.99, $7.99
USER REVIEW- “Genius Scan Plus is a solid, basic mobile scanning app, and inexpensive enough to be a handy asset installed on your smartphone. It’s a good value for the money.”
FYLE- Average User Ratings- 4.9
- Fyle has unlimited receipt scanning.
- It also has a secure and unlimited cloud storage.
- You can upload your receipts in bulk or as a single entity. The duplicate detection is far more advanced and has an exemplary OCR.
- Fyle’s scanning app can seamlessly extract data from receipts, thereby easing out the expense reporting process.
- The Gmail add-on helps to extract receipt details directly from your inbox.. You can even customize your expense fields.
Pricing– Free for Individual Users, $4.99 for enterprises
USER REVIEW- “Fyle has brought a lot of discipline and ease to my expense management. The mobile app lets me log paper bills on-the-go. The Gmail extension ensures all my online invoices get logged in seconds.”
CLEAR SCANNER- Average User Ratings- 4.8
- Clear Scanner, is an application which integrates with almost all of the cloud services.
- Automatic document detection (image, bills, receipts etc.) and the processing is extremely fast.
- Multiple editing options for the document and Clear Scanner allows the user to print your documents over cloud print.
USER REVIEW- “The application was a solution to my scanning needs – easy, convenient and produces nice images and I enjoyed these benefits on my mobile phone, no need for laptops and desktops to do the scanning.”
EVERNOTE SCANNABLE- Average User Ratings-4.7
- Evernote’s Scannable is known for its outstanding OCR.
- It proves to be extremely beneficial while documenting and tracking receipts.
- It can automatically scan receipts and send them to Evernote for further editing.
Pricing– FREE on iOS, Not available on Google Play Store (Android)
USER REVIEW- “Evernote Scannable quickly scans stacks of business cards, notes from a meeting, and documents using nothing more than your smartphone and its camera. It’s even faster than Evernote’s own in-app business card and document scanner.”
Fyle’s superpower abilities are not just limited to scanning receipts. We do a lot more.