NEW YORK, Oct. 2, 2018 /PRNewswire/ -- Infor, a leading provider of industry-specific cloud applications, today announced a strategic collaboration with Itemize Corp., a leading expense document data extraction provider headquartered in New York City. Paired with Infor's flexible and configurable travel and entertainment (T&E) expense management solution, the embedded solution can utilize cloud technology and artificial intelligence to automatically capture receipt data and transfer that data to Infor Expense Management.
"We are excited about the opportunity to partner with Infor Expense Management. As corporate employees ourselves before starting Itemize, we recognize the burden employees bear in manually tracking expenses and entering receipt data into systems," said James Thomas, Founder and CEO of Itemize. "We are pleased to support Infor in offering a solution to designed to help address this challenge. In addition, the Itemize solution can also help financial managers streamline the task of monitoring policy compliance via improved data quality. We are thrilled to be partnering with an industry leader in the expense management sector who can help enhance our platform."
Infor Expense Management is designed to offer unique and insightful capabilities for spending control, reporting, and analysis. Customers can actively manage employee-initiated expenses while on the go, thanks to mobile capabilities and cloud deployment, which can help reduce those costs without impeding business. Whether an organization has one location, or it's a complex, multinational operation, Infor Expense Management can help automate expense-related business processes with social collaboration tools, enforce policy compliance, cut administrative costs, and reduce the risk of accidental errors and intentional fraud.
"As anyone who travels or entertains for business can tell you, expense reporting is a pain that saps productivity - both for the person incurring the expenses and those who have to account for it," noted Robert Kugel, Senior Vice President at Ventana Research. "So, it's good news that Infor has partnered with an expense document data extraction vendor, Itemize, to help streamline the process. Itemize enables Infor Expense Management to capture data from images such as smartphone photos of receipts so that road warriors don't have to enter the information by hand."
"We continue to drive value for Infor Expense Management customers with the incorporation of the Itemize functionality," said Mark Corsetti, vice president and General Manager at Infor. He added, "this partnership can further improve the business traveler experience and help our users get reimbursed faster and with less manual effort. We believe Infor is now poised to enter a leadership position in the enterprise expense management market."
Itemize extracts data from expense and payables documents using Artificial Intelligence in the cloud. Founded in 2012 by payments industry veterans, Itemize operates one of the world's most accurate extraction engines for receipts, hotel folios, and invoices.
Infor builds business software for specific industries in the cloud. With 16,500 employees and over 68,000 customers in more than 170 countries, Infor software is designed for progress. To learn more, please visit www.infor.com.
This announcement reflects the direction Infor may take with regard to the specific product(s) described herein, all of which is subject to change by Infor in its sole discretion, with or without notice to you. This announcement is not a commitment to you in any way and you should not rely on this document or any of its content in making any decision. Infor is not committing to develop or deliver any specified enhancement, upgrade, product or functionality, even if such is described in this announcement and even if such description is accompanied by words such as "anticipate," "believe," "expect," "intend," "may," "plan," "project," "predict," "should," "will," and/or similar expressions. Many factors can affect Infor's product development plans and the nature, content and timing of future product releases, all of which remain in the sole discretion of Infor. This announcement, in whole or in part, may not be incorporated into any contractual agreement with Infor or its subsidiaries or affiliates. Infor expressly disclaims any liability with respect to this announcement.
For more information: