Now Available: AI-Based Receipt Matching, Advanced Approval Processes, and More

Yes, target met for the day!

2024 is shaping up as a year of unprecedented innovation at PEX. We’re kicking off the year with a load of advances to the platform, including two of our most highly anticipated new features. And we’re readying to roll out a whole lot more. Here’s what’s happening.

New AI-Based Receipt Matching: A Huge Advance in Back-Office Productivity

Busy users and administrators no longer have to link receipts to PEX transactions. You can upload receipts when your schedule or workload allows for it. PEX will auto-magically match each receipt to the transaction. As you can see below, AI-matched receipts appear in the transaction report with a sparkle () icon and “Auto match” label.

Users and administrators can upload receipts using either the website or mobile app. 

Website users login to their dashboard, navigate to the Attachments tab, and select upload. Receipts can be in PDF, PNG, or JPG formats. Mobile users can launch the PEX mobile app, tap “Attachments,” and then the camera icon. Then you take a new photo or select an existing photo of your receipt. Detailed instructions for uploading receipts and using this feature are available for  Cardholders and Admins on our support website:

Advanced Approval Policies: When One Policy Doesn’t Fit All

If your organization has multiple types of approval flows, you’ll love this new PEX feature. It allows you to build your rules and workflows right into the PEX platform. You can create unique rules for each department, purchase type (tag), dollar amount — or any combination. 

You can decide how many levels of approval are needed for each type of purchase. And who at that level needs to do the approving. You can even save your organization time by using this feature to automatically approve purchases below certain thresholds. This video shows you how to set up a multi-level approval workflow. Or visit our support site. Of course, PEX support and customer success teams are available to help you. Just let us know.

Apply for Credit Expense with PDF Bank Statements: No Credit Checks or Personal Guarantees Required

If you’re a PEX customer and can’t link your business bank or money market account to Plaid, you can still apply for the flexibility and cash-back rewards that come with PEX Credit Expense.

We’ve added a “Bank statement upload” option to the application. Simply choose that option and provide us with 3 months of PDF bank statements.  

Dynamically Re-Up Cardholder Credit Limits Between Cycles.

Now you can make more big-ticket purchases (and get big-ticket cash-back rewards) with PEX Credit Expense — even if a user doesn’t have the spending power left on their card.

We’ve modified the prepayment capabilities to let you pay off part or all of a user’s spending between cycles, and then reset the spending limit.

So you can make more purchases with PEX Credit Expense, track them, record them simply through the PEX dashboard, and get cash back.

Simpler Password Recovery

Cardholders or Admins can now receive password reset credentials via email. Simply select the forgot username or password link on the login screen and enter your email address. A password reset email will be sent to you.

This is available for both mobile and desktop users.

Pro Tip: Enforce Your Expense Policies With Custom Spend Rules

Most companies have expense policies, but two out of three employees never read them and 85% admit to falsifying expense reports. So it’s no surprise that 60% of PEX customers who use custom spending rules save money.

PEX gives you the ability to create hundreds of rules to help manage spending. You can restrict the state(s), or even the merchant types, where cardholders can spend, maximize tax credits, limit card use to business hours, and more. Any attempt to use a PEX Card outside of the pre-approved rules will result in a decline.

You can also create cardholder groups and set role-based spending privileges and restrictions. To create spending rules, log in to your dashboard, navigate to Business Settings, select, Spend policies, and choose, Create a new policy.

Coming Soon: A Forest Full of Innovation

Back in December, we told you how PEX plants a tree to celebrate development milestones. Three months and who knows how many new trees later, we’ve made a lot of progress. But there’s more to come. Be on the lookout for these exciting features, coming soon:

Reimburse Your Employees’ Out-of-Pocket Expenses with PEX

PEX is building capabilities that will allow you to reimburse cardholders for their personal outlays through the PEX dashboard and mobile app. Cardholders will submit receipts made on a personal card through PEX. Once approved, payment will be sent directly to the cardholder’s bank account. 

Sign up for early access to this feature here

Also, if you have a moment, drop us a line and tell us about your current processes and how we can make this feature work better for you.

Sync Travel Purchases into SAP Concur

PEX is advancing ways to control spending and empower teams on the go with the newest integration to SAP Concur. With this integration, cardholder purchases can automatically sync directly into Concur Expense.

Stop Cardholder Procrastination with Auto Enforce

Are your cardholders waiting too long to submit receipts, tags, and notes? You’ll love Auto Enforce. It will allow Admins to create rules that require Cardholders to submit purchase documentation in the timeframe set by an Admin. If they don’t, their card will be temporarily blocked. 

Of course, we’ll also be making it easier for Cardholders to submit receipts.

Text / Email Receipt Submission

PEX is expanding receipt capture capabilities. Cardholders and Admins will be able to email or text a receipt directly to PEX. Our new AI-based Receipt Matching feature will automatically match these receipts to transaction records in the PEX platform.

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