Tide brings optical recognition to SME expense management

Business banking platform Tide has announced that it is adding optical character recognition (OCR) to its SME receipt matching service. The company’s expense management feature will use a proprietary algorithm to let customers auto-match receipts to transactions and upload documents in bulk, in a move designed to reduce manual processing.

Other new expense functions for Tide members include the ability to edit and delete notes related to their expenses, electronically store receipts and download attachments linked to their transactions.