![]() ![]() Each expense is submitted and entered into the system in real time, giving admins instant visibility into spend. It is the only platform to remove the arbitrary employee-generated expense report from the process - making submitting and reviewing expenses faster and more accurate. INSTANT VISIBILITY INTO SPENDING AND BUDGETSīuild custom analysis reports with real time data to help you identify trends and manage budgets.Ībacus is a real time expense reporting solution that automates expense creation and approvals. Sync expenses into your accounting software using either cash or accrual method as they are approved so that your books are always up-to-date. Once an expense is approved, Abacus handles the reimbursement and direct deposits into the employee's bank account. Routing rules then automatically send the expense to the best suited approver. Policy rules are applied before expenses can be submitted in order to reduce violations. Given how many brands are already on Certify’s side-Certify itself was purchased by K1 Investment Management last year and is part of a coalition between ExpenseWatch, Nexonia, and Tallie-such a move would likely help things out there.Įxpense management is a valuable tool-just ask any small business owner who dodged a bullet at tax time with his or her expenses-and Certify’s acquisition of Abacus only improves on that front, making expenses that much easier to handle.Abacus is the easiest way for you to reimburse your team, reconcile corporate credit cards, and implement your expense policy.Īccess your Abacus to track expenses from anywhere!ĬAPTURE ACCURATE EXPENSE DATA FROM EMPLOYEESĪbacus drafts expenses using reliable data sources such as receipts, card transactions, past behavior, CRM fields, and geolocation to ensure records are complete and accurate.ĪUTOMATE YOUR EXPENSE POLICY AND APPROVAL HIERARCHY Whether it’s access to a new customer base, a way to offer current customers more services they can pay for, or a way to go out and get access to customers that were unique to both companies, the end result is usually a chance at improved market share. Usually when a company makes an acquisition like this, it serves as a way to give the buying company an edge in the market. Omar and his team have done a tremendous job building Abacus and we look forward to helping them continue to grow their business while enhancing Certify’s leadership position in the spend management space.” ![]() The company’s real time expense management solution is unlike anything else in the marketplace. The financial terms of the arrangement weren’t disclosed, though given Abacus’ rapid expansion, it’s a safe bet the numbers involved are substantial.Ĭertify’s CEO and founder, Robert Neveu, noted “Acquiring Abacus strengthens and expands our management team, product set and domain knowledge. Given that Certify has around 10,000 customers to its credit and has moved to become the largest independent provider of expense and travel management options, adding Abacus to the roster will likely only help cement that status. At last report, it has over 1,000 customers in North America alone. Recently, Certify added some firepower in expense management, as it tipped us off about its acquisition of Abacus.Ībacus was the first firm, reports note, to offer real time expense reporting tools to users, and as such, has seen growth climb impressively over the years. This is especially true around tax time, when deductible expenses mean that that fifth check is a lot smaller than you feared it might be. While mobile payments are an excellent alternative for actually paying expenses, managing expenses is a vital part of operations for businesses. ![]()
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