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Expensify Launches Invoices and Bill Processing, Replacing Freshbooks and Bill.com.

SAN FRANCISCO
 , city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden
, May 14, 2013 /PRNewswire/ — Expensify, makers of the
world’s top
SMB

 expense reporting application, announced Tuesday
they are expanding their services to include Invoicing and Bill
Processing. Historically, offering only Expense Reports, this is a major
milestone for Expensify as they show they are more than just
“Expense Reports that Don’t Suck!”.

(Photo: http://photos.prnewswire.com/prnh/20130514/LA13370)

“Basically, we’ve concluded that an expense report,

invoice

, and bill are really all the same thing: a list of expenses with
supporting documentation that you give to someone who pays you in
return,” said Expensify
CEO

 
David Barrett

. “Sure, there are
some nuanced differences, all of which we support, but in general they
are far more alike than different. Why have three different tools to do
essentially the same thing? Now you can manage your expenses in one
place whether they are coming or going – all within the incredible
platform our users have grown accustomed to and rave about.”

Expensify’s Invoicing and Bill Processing has been in closed
beta for the past few weeks, receiving overwhelmingly positive feedback.
Today, Expensify unleashed these new products to their user base of 1.5
million users across 225,000+ companies. In the past, users uploaded
receipts into Expensify to create their expense reports. With this new
feature roll-out, users can now use those receipts to create
custom-branded invoices to send out to their clients. Invoices sent from
Expensify users can be paid directly within the platform via
ACH

 Direct
Deposit, PayPal, or even Bitcoin.

“We haven’t lost our focus on Expense Reports. In fact,
this has been the plan since day one,” said Barrett on Tuesday.
“We built these features in order to make our expense reporting
solution more powerful. Our users were logging expenses and then
exporting to Freshbooks or Quickbooks in order to convert that report
into an invoice. These new features eliminate the need for that. Now you
can convert expense reports into invoices without leaving
Expensify.”

Traditionally, Expensify has saved its users time and money by
eliminating the paperwork from expense reporting. The addition of
Invoicing and Bill Processing to the Expensify platform is the natural
progression towards businesses becoming truly paperless. Companies with
Expensify are no longer bound to antiquated, clunky invoicing systems.
They will finally be able to handle their expense reporting, invoicing,
and bill processing all in one platform, with an interface employees
truly enjoy using. Expensify is offering a free 30 day trial of
Invoicing and Bill Processing to all users. After the trial period, it
costs $15/month, making it significantly cheaper than competitors.

About Expensify Inc.

Expensify does “expense reports (and bill processing and
invoices) that don’t suck!” Users import expenses and receipts
from their smartphones, credit cards, plus a wide array of national and
international banks. Expensify’s SmartScan technology reads
receipts and automatically assign expense data to them. Expensify is
used by over 225K companies and 1.5M users, processing over $2M in
expense reports every day. Visit www.expensify.com to sign up or
we.are.expensify.com for more company information.

SOURCE Expensify Inc.