Itemize announced the world’s first receipt data extraction solution to include full VAT tracking and reporting. This leap forward empowers millions of SMEs to simplify expense management and expedite VAT reimbursement. The product launch coincides with the UK Government’s Small Business Advice Week.
Founded in 2010 by leading experts in the payments industry, Itemize is a financial technology company focused on extracting data and value from receipts and invoices. Customer benefits include revenue, cost, and risk management gains for large and small companies.
Itemize’s proprietary technology extracts data in under 15 seconds from both paper and digital receipts, including the VAT number, amount and merchant. Applying over a dozen enhancements to the data, the platform improves expense tracking and eases the pain and hassles of claiming and reporting VAT for both the business and employee.
The Itemize app is available for Android devices on Google Play and all Apple devices via iTunes. Itemize Pro is $6.99 (£4) per month or $69.99 (£40) for the full year. Multi-user team memberships are also available. All paid memberships include unlimited receipt capture, intuitive reporting, data customization, easy exports in a wide variety of file formats and more. Users can also connect their email accounts, enabling Itemize to automatically extract and organize data from order confirmations and receipts sent via email. Itemize’s precision is unparalleled, extracting digital expense data with over 99% accuracy using its proprietary technology.