Why Expensify Wants Receipts To Be The Next Floppy Disk

Expensify really doesn’t like paper receipts, and chances are, companies and their corporate travelers don’t either.

The expense management firm revealed on Wednesday (July 13) the rollout of a new service, ReceiptBurner. The platform integrates into travel service providers, like Uber, HotelTonight, Revel Systems and more, enabling travelers to have data from a purchase sent directly to the Expensify platform, without the need for issuing a receipt.

“Our dream is for receipts to become the next floppy disk,” said Expensify CEO and Founder David Barrett in a statement. “We revolutionized the expense management space in 2010 with SmartScan, our patented receipt OCR technology. ReceiptBurner is the next evolution of that dream.”

According to the company, more travel vendors will be able to integrate with ReceiptBurner in the next few months.

“With every vendor added to the platform, we move closer to a future where our users don’t even need to open our app to capture receipts; Expensify will have already detected the purchase and imported all of the transaction data automatically,” the CEO continued.

The new solution comes a few months after Expensify expanded in a different way: The company revealed in February that it has entered the European market. The launch in London coincided with reports that the company was named the fastest-growing travel and expense management firm by a Gartner report; Expensify enjoyed 136 percent growth in 2014, analysis found.