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Digitizing That Pile of Receipts

Techstination feature for Tuesday, March 22, 2005

Turning that pile of receipts ….into digital files. Bloomberg Boot Camp, a report on today's technology. He was a consultant who got tired to taping receipts to paper to submit for expense reports. So Rafi Spero decided to come up with an easier solution. The result… a company called NeatReceipts…that sells software bundled with a wand shaped portable scanner…

"Probably the neatest thing about neat receipts is that we actually read information from the receipt so you don't have to type it in. So we read the date, the amount, the vendor name and associated properties and appropriate category…as well as the expense type. And we just released software that also reads the tax. So when it comes, during tax season, it helps you itemize various tax expenditures so you can get reimbursed by the government. Once you scan in that receipt, not only does it save a permanent copy onto your computer, but also reads valuable information expediting the data entry process…and overall saving you time."

The software is designed to work best with the NeatReceipts scanner….which does not need external power. The scanner, however, can be used for other types of documents and photos…

"I personally also scan in faxes. There's a number of different modules in the software. One of the modules is called a document manager that helps you manage regular documents. Another module is called the receipt manager."

The software and scanner sell for 250 dollars at Bloomberg Boot Camp, I'm Fred Fishkin.