File has launched a conversational artificial intelligence (AI) platform that allows employees to send expense receipts and related details via text message.
The solution is designed to not only eliminate the need for traditional apps, but also the need for employees to learn how to use those apps, the expense management platform said Tuesday (March 5). ) was announced. press release.
“Text messaging has become the most popular way to provide customers with receipts and additional expense details.” Yashwant MadhusudanFile co-founder and CEO said in a release. “Our users love this experience because they no longer have to open the app to submit a receipt.”
new file Conversational AI for expensesWhen employees text expense receipts and other details, File’s AI will create the expenses and match them to the correct transactions, according to the release.
To ensure accurate AI-based coding, the AI prompts users through text to provide project, cost center, category, and other important details, the release states.
The solution means there is no learning curve for employees to begin the process, resulting in faster deployment and improved ease of use with each release. It also eliminates the need to keep paper receipts and the tendency to delay completion of expenses.
For accountants, this AI and text-based process saves time spent asking employees for receipts and other details, according to the release.
One of the early adopters of this solution was East Coast Institute.
“The ease of use and the feedback text that lets you know your input has been verified are especially helpful,” Massaro said in the release. “Now I don’t have to carry around paper money.”
In November 2023, File partnered with the following companies: Sensibaa company focused on providing automated tax, audit, and consulting services. expense report and credit card reconciliation solutions.
This partnership will enable AI expense management to provide spending insights and give finance leaders more control.
“AI-enabled expense management on file eliminates time-consuming and delayed expense reporting while providing spend analysis to finance departments,” said Sensiba Partner. kevin sieves he said at the time. “By partnering with File, we can help a broader range of businesses develop scalable processes to manage expenses, categorize finances, and manage spending across the enterprise.”
