Spend and expense management platform Extend unveiled its AI Receipt Agent this week. The new offering for the firm’s bank partners automates the work of matching receipts to card transactions while keeping finance teams in control of every decision. As part of Extend’s effort to make trusted AI tools accessible to its small and mid-market business clients, the AI Receipt Agent was developed in conversation with finance teams and is designed to earn trust via useful, understandable automation.

“Every business owner we talk to wants AI to take the tedious work off their plate, and every one of them also wants to know exactly what it’s doing with their data,” Extend CEO and Co-Founder Andrew Jamison said. “We don’t think those two things are in conflict. As a small business ourselves, we want the same thing: tools that make the busywork disappear without creating new risk. That’s why we are building all of our AI agents to handle the routine work well and to show their work at every step. We help banks deliver AI their customers will actually trust, so no one has to trade control for convenience.”

To this end, the Receipt Agent handles the searching and matching while finance teams remain in charge of reviews and approvals. The agent automatically searches for and retrieves receipts from employees’ Gmail or Outlook accounts, using the same security and access controls that already protect their spend data. All matches are explainable so that finance teams can see what the agent matched and why, and then correct matches when needed.

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