Bento for Business and AvidXchange roll out new product features

As Covid-19 accelerates the need for businesses to get on board with the digitization of payments, two payments automation companies have announced improvements to help businesses ease their workflow. Bento for Business has rolled out new improvement in its technology in which one of the features, AutoMatch which utilizes artificial intelligence (AI), has the ability to automatically match the picture of the receipt taken from the mobile device to corresponding transactions.

With this, the company believes that it would save significant time which otherwise would have been used for cross-referencing receipts. With AutoMatch, individuals can also organise and reconcile digital receipts by forwarding the digital receipts from their Bento registered email account to the designated email address. It also lets users in offline mode send receipts.

The announcement comes a few months after Bento for Business appointed Guido Schulz as its new chief executive officer.

Another payments automation firm, AvidXchange has launched Boost your Business program, which will assist companies in moving to digital billing and payments in under 45 days. The company hopes that with no set up of conflagration fees, businesses will find it easy to transfer to the digital medium and save up to $10,000.

“We conceptualized this new program specifically for companies that are still burdened by antiquated back-office processes. By helping them shift to e-invoicing and e-payments, we’re pivoting their entire finance team to focus on what really matters right now – bolstering the balance sheet for the year ahead,” said Michael Praeger, CEO and Co-Founder of AvidXchange.

The programme will replace manual work and deliver the invoice-to-pay solution with automated invoice ingestion, approval workflows and e-payments. This will give the finance department more visibility and security.