Digital receipt solutions can help companies save millions

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Smart receipts

2 min

05-29-2020

Today, companies and organisations in the Nordics waste millions of euros each year, money that could be put to better use. The culprit behind the waste is something that you probably carry in your wallet right now: paper receipts.

Now, smart digital receipt solutions will make this unnecessary spending a thing of the past.

According to the Technology Industries of Finland, the resources needed for each paper receipt that has to be digitalized and converted to an expense claim equals a cost of €5-7 for the employer. Now, take that number and multiply it by the number of transactions made by a company with thousands of employees. The amount of money wasted each year is mind-blowing.

Despite this apparently obvious waste of resources, most Nordic companies have yet to find an effective way to digitalize the receipts. One of the main reasons is that there hasn’t been a large-scale infrastructure in place to deliver an integrated service for digital receipts. In other words, companies are still required to match each receipt with the matching expense, even if the receipts are delivered to the company in a digital format. But in most situations the receipts are delivered in paper version and the employee need to photo the receipts manually.

The solution: smart receipts

Last year, market leader Eurocard and Storebox entered into a partnership with the aim to deliver a solution to the problem. Now, that partnership has come to fruition. The solution: smart receipts.

- Smart receipts is a deceptively simple service, says Mads Krumhardt Enggren, CEO of Eurocard. Through this solution all receipts will be sent directly to the expense management system, automatically paired with the right transaction. We’re very proud of the user-friendliness and how well it integrates into existing expense report systems. Thanks to our partnership with Storebox we’re able to deliver a one of kind service that saves money for our clients.

Today, Eurocard’s smart receipts solution is available on all markets in the Nordics with Denmark and Norway leading the way.

- We hope we’ll soon see a similar development in Sweden and Finland as in Denmark and Norway. The smart receipt revolution is here to stay, says Ivan Sandqvist CEO of Storebox, a part of Nets group.

If more companies were to shift the way they work with expense claims from the old analogue methods to smart receipts, billions of Euros could be saved in the Nordics alone.

Read more about Smart receipts

The ultimate in expense management

  • Automatically pairs receipts with the right purchase data
  • Minimize risks and cut administration costs
  • Save valuable time for both employees and administrators
  • Purchase data and receipts sent straight to your expense management system

Smart receipts

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