Emburse, an international “leader” in spend management solutions, recently launched Emburse Spend, an expense solution which “combines card issuance, sophisticated spend policy control, and automated reconciliation.”
Emburse Spend empowers team leads “to make spending decisions through a straightforward card issuance and management dashboard, which provides a secure and user-friendly way for employees to make purchases.”
The solution, which is based on the same Emburse platform “used by 18,000 organizations including global Fortune 10 enterprises, enables companies to easily distribute and manage virtual and plastic cards to employees while minimizing risk from out-of-policy spend.”
Emburse Spend is “a modern card management solution which enables employees to easily make purchases or take business trips without needing to worry about collecting receipts or submitting expense reports.”
It uses sophisticated optical character recognition, approval workflows and machine learning “to deliver a seamless solution for purchases and reconciliation.”
Emburse Spend’s workflow “provides both control and convenience, eliminating many of the headaches associated with corporate cards and expense reports.”
As noted in an update shared with CI, an employee “submits request for a card based on purchase needs, ranging from software subscriptions or online ad spend, through to traditional T&E spend such as travel bookings.”
Card administrators can “immediately issue a virtual card, with restrictions such spend levels and time limits, automatically coded into it.”
Employees “make purchases using the Emburse Card, and are prompted by a real-time alert on the Emburse Spend mobile app to capture an image of the receipt.”
Emburse’s OCR engine “verifies that the receipt matches the card transaction data
An expense record is created, verified as being within policy, and can be even automatically entered to the organization’s accounting system.”
Rob Kugel, SVP at analyst firm, Ventana Research, stated:
“Emburse has long been known for the full-featured spend management solutions that it provides for corporates and large enterprises. The company has built a sophisticated expense platform which forms the backbone of Emburse Spend. Combining the platform’s capabilities with its virtual, policy-based card issuance will give start-ups and small organizations access to the same capabilities as Emburse’s large enterprise customers.”
Eric Friedrichsen, CEO of Emburse, remarked:
“Regardless of whether you work for a start-up or a large multinational, or submit expenses once a year or once a week, you should be entitled to the same high-quality and intuitive experience.”
Friedrichsen added:
“With Emburse Spend, we’re giving companies the best of both worlds: a really smart payment and reconciliation process that employees will love to use, combined with the level of back-end functionality traditionally only available with enterprise-grade solutions. Even better for finance teams is that submission, approval and reconciliation of transactions is all automated, so they can focus on company growth instead of administering an expense system. Emburse’s mission is to humanize work, and now with Emburse Spend we’re delivering this promise to organizations of every size.”
Emburse Spend is available as “a free solution, and also provides savings through card rebates.”
Additional capabilities are “available on a subscription basis.”
As noted in a release, Emburse is “a modern spend management company offering solutions that revolutionize the way organizations manage employee expenses, process invoices and make payments.”
Emburse humanizes work “by empowering business travelers, finance professionals, and CFOs to eliminate manual, time-consuming tasks, so they can focus on what matters most.”
Its offerings, which are tailored to meet the unique business needs of specific industries, company sizes, and geographies, “are trusted by more than 9 million users in more than 120 countries.”
More than 18,000 customers, from start-ups to global enterprises, including Bosch, Grant Thornton, Telefónica, Lufthansa Systems, and Toyota,” rely on Emburse to make faster, smarter decisions, improve compliance, and optimize spend — making corporate spend deliver meaningful value for the organization.”