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Itemize and Mastercard Join Forces to Deliver Mobile Expense Management Solution

By CIOReview | Wednesday, May 15, 2019
James Thomas, CEO

James Thomas, CEO

FREMONT, CA: Manual entry of expenses is an arduous task that requires extensive resources, both in terms of workforce and cost. The implementation of the expense management solution can aid the businesses in streamlining these tasks through simplified technology. NY-based Itemize delivers expense management and accounts payable solutions to companies looking to enhance the efficiency of their financial operations. It leverages artificial intelligence (AI) and machine learning (ML) to drive the efficiency and accuracy of unsurpassed processing for its clients. The positive strides of Itemize in the financial technology landscape over the last few months earned it many accolades from the media and financial analysts. One such recognition is its recent announcement about collaboration with Mastercard.

The premier provider of expense management SaaS solution, Itemize joins forces with Mastercard to empower small business owners in the United States. Itemize’s receipt management solution will provide the Mastercard small business cardholders with the necessary tools to enhance their expense management. The Itemize solution is part of Mastercard’s new small business program now available across Mastercard Business and World Elite offerings in the United States with other global markets to follow. Recently, Mastercard made the Itemize expense management solution available to all its small business cardholders, making financial operations management seamless.

With the new Mastercard receipt management offer, small businesses can be equipped with a mobile expense management system. The CEO of Itemize, James Thomas said, “We have created a scalable core-technology application by bringing together artificial intelligence, computer vision, advanced optics, and image recognition technology, combined with the cloud to efficiently read and comprehend expense information of the expense documents exactly like humans.”

This solution enables small businesses to keep track of the paper and digital receipts, categorize expenses, record purchase data as well as maintain export customized reports. The capability of the expense management system to track revenues and differentiate personal and business expenses is also vital for operational efficiency.

“Itemize is excited to partner with Mastercard to provide small business owners and employees receipt management tool for tax tracking and reimbursement purposes. With 640 tons of paper used each year to print paper receipts in the United States, Itemize helps businesses get out from under that clutter and provides access to meaningful business intelligence to help operate their business,” Thomas said.

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