Backdrop develops expense management software that utilizes AI to automate receipt parsing and integrates with banking systems for real-time cash flow visibility. The platform addresses the inefficiencies of manual expense tracking, enabling production teams to streamline approvals, reduce audit risks, and maintain budget control.
Funding
$500K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
HCOPFounders
Product
Problem
Production teams often struggle with inefficient, manual expense tracking processes, leading to time-consuming reconciliations, budget overruns, and increased audit risks. Existing solutions often lack the specific features needed to manage the unique financial workflows of project-based work, especially in industries like film, TV, and event production.
Solution
Backdrop offers an AI-powered expense management platform tailored for the complexities of film, TV, music, and event productions. The platform automates receipt parsing, integrates with bank feeds for real-time cash flow visibility, and streamlines the entire expense lifecycle from purchase to reconciliation. By centralizing expense data, Backdrop eliminates manual data entry, reduces errors, and provides production accountants and executives with the tools they need to maintain budget control. The system supports virtual and physical cards with customizable limits, purchase order management, vendor payments, and live inventory tracking, all accessible via a mobile app and web dashboard.
Target Audience
Backdrop is designed for production accountants, executives, and their teams in the film, TV, music, and event production industries who need to streamline expense tracking, maintain budget control, and reduce audit risks.
Features
- AI-powered receipt parsing in multiple languages and currencies
- Automated matching of receipts to bank transactions
- Real-time tracking of crew expenses and petty cash envelopes
- Instant issuance of virtual and physical cards with customizable spending limits
- Purchase order creation, approval, and vendor payment processing via ACH or check
- Live inventory tracking with item-level data sourced directly from vendors like Amazon
- Customizable accounting reports for platforms like Smart Accounting, Extreme Reach, and PSL
- Mobile app and web dashboard for managing expenses on the go
- Automated notifications for card swipes and approval requests