Customer data platform Sensibill is teaming with cloud accounting software provider FreeAgent to help businesses better manage their business expenses like receipts, according to a press release.
The companies are looking to help small businesses automate and organize their finances, accounting and taxes, the release stated.
FreeAgent CEO and Co-Founder Roan Lavery said in the release: “Automation is at the center of our business, which is why partnering with Sensibill was a natural choice. Through this partnership — which powers our new Auto Extract feature — we aim to increase customer satisfaction and engagement, while making the lives of our small business customers and accountant partners much easier. It’s great to be working alongside Sensibill to help businesses get back to pursuing their passions — without all of the administrative hassles.”
FreeAgent has recognized that its customers want alternatives to manual-based administrative tasks like receipt management, the release stated. Its technologies provide solutions to certain time-consuming tasks and paint points, like reconciling receipts and manually organizing and filing receipts.
Through the use of Sensibill’s technology within the FreeAgent solution, the Auto Extract technology can be used to capture, organize and categorize receipts and attach them to corresponding bank transactions, according to the release.
Last year, Sensibill debuted a tool called Receipt Extraction API, which purported to automate and streamline the extraction of receipts.
The tool is powered by multi-brain processing and leverages multiple options for charter recognition and machine learning (ML) to deliver the most accurate results. It is currently used by enterprise accounting firms to help cut down on costs and to personalize their services.
“Our Receipt Extraction API offering uses smart technology to extract receipts in bulk with speed and precision,” said Sensibill CEO Corey Gross at the time.