NEW YORK--(BUSINESS WIRE)--Abacus, the only intelligent expense management solution, today revealed an integration with Slack, making it the first full-featured expense software available for use on the real-time messaging platform used by three million people daily. Finance teams can now review and approve expenses within Slack using the platform’s new interactive messages. Abacus also revealed enhancements to its flagship system that make it the first predictive expense reporting software, intelligently powering recommendations and automating expense creation and approvals.
“With this new release, Abacus has leaped beyond automated expense creation to make the review and approval process intelligent,” said Omar Qari, co-founder, Abacus. “No longer do administrators need to explicitly review every expense, but instead can lean on Abacus’ predictive engine to surface only those expenses that actually require attention, freeing them up to focus on strategic opportunities. Slack is the perfect platform to take action on these curated tasks. By using data to make the process smart and predictive, we are ushering in the next generation of expense management for businesses everywhere.”
First Intelligent, Predictive Expense Management Solution
By updating its flagship system with a predictive policy building engine, Abacus dramatically reduces the amount of manual work required by administrators to manage the expense process. They will soon only need to take action on approximately 20 percent of expenses, with Abacus managing the remainder according to employee expense behavior, recurring approval patterns and other data points.
Abacus’ curated experience allows administrators to focus on the high priority items. The new system will be analyzing the context surrounding the expense process, such as whether similar expenses have been rejected, if an expense is recurring, or if an amount is out of character for an employee. Using this data, Abacus’ policy building engine will begin to proactively make recommendations, flag expenses for review, and automatically manage common expenses that are within policy.
Slack recently worked with a select group of partners to launch their message buttons, which allow users to get work done in Slack by using simple buttons. Abacus’ enhanced predictive system has been integrated with Slack, bringing smart notifications around which expenses require immediate action. Employees can now be invited by an administrator to Abacus from within Slack and will be able to upload receipts with an attached note. Administrators receive notifications when expenses that need their attention are ready to be reviewed and can approve them from Slack with one click.
“Slack has emerged as the hub of daily business activity for many of our customers. With this new integration, employees and administrators can manage their expenses in the place where they are already spending much of their work day,” said Qari. “Abacus is proud to be the first and only expense management system to offer this functionality.”
For more information on Abacus’ integration with Slack, visit https://www.abacus.com/slack.
Abacus is the only intelligent expense management solution, using data and behavior analysis to make recommendations and automate expense creation and approvals. Using this intelligence, expenses are curated to help administrators focus on anomalies and high priority items. Abacus processes next-day reimbursements, enforces your expense policy, reconciles corporate cards, and syncs with your accounting software. Businesses like Greenhouse, Betterment and Pinterest use Abacus as a smarter way to manage expenses.