The startup provides a financial platform designed for service-based businesses in the experience economy, utilizing data analytics to streamline payment processing and financial management. By optimizing these transaction processes, the platform enhances cash flow and boosts customer engagement for its users.
Funding
Funding not disclosed
Founders
Product
Problem
Many businesses struggle with inefficient expense management processes, leading to wasted time, increased administrative overhead, and a lack of real-time visibility into spending. Traditional methods like reimbursements and shared corporate cards create difficulties in tracking expenses, enforcing budget compliance, and ensuring accurate financial reporting.
Solution
Budgetly is an AI-driven spend management platform that provides businesses with real-time visibility and control over their expenses. The platform offers features such as virtual and physical corporate debit cards with customizable spending rules, automated receipt capture and matching, and seamless integration with accounting software like Xero. By eliminating manual data entry and automating accounts payable processes, Budgetly helps finance teams save time, reduce errors, and improve budget management. The platform's AI assistant, Buddy AI, automates bill processing, detects fraud, and streamlines approvals, further enhancing efficiency and cost savings.
Target Audience
Budgetly is designed for small to medium-sized businesses (SMBs) and enterprises across various industries, including not-for-profits, professional services, retail, travel & tourism, and healthcare, as well as accountants, bookkeepers, and finance teams.
Features
- Virtual and physical corporate debit VISA cards that can be instantly issued to employees
- Customizable spending rules and budget allocation directly encoded into employee cards
- Automated receipt capture via a mobile app with AI-driven receipt matching and GST extraction
- Automated accounts payable with easy bill capture and one-click reconciliation
- Real-time transaction visibility and budget tracking
- Seamless integration with Xero accounting software
- AI-powered Buddy AI assistant for automated bill processing, fraud detection, and streamlined approvals
- Mobile app for employees to capture receipts, track spending, and request funds
- Integration with Apple Wallet for quick card access and payments