Real-time analytics also help companies make quick budget decisions.Ībacus’ clients include Betterment, Dropbox, GLG and North American Substation Services. If expenses need to be approved by specific managers or departments, Abacus routes them to the right person. Abacus eases their pain with features like automatic expense suggestions and Slack integration for employees.įor companies, it lets them set prompts to enforce spending limits and make sure details, like client names, are filled in correctly. Its team will join Certify and the Abacus product will continue to be independent.Įxpenses are a bane for everyone involved: the employees who need to turn in receipts, the managers who have to approve them and everyone in the finance department who needs to reconcile corporate credit cards and make sure company policy is followed. The Y Combinator alum, whose investors included General Catalyst, Bessemer Venture Partners, Google Ventures and Salesforce Ventures, currently counts 1,000 customers.

The addition of Abacus will help Certify, which includes other expense management solutions like Nexonia and ExpenseWatch under one umbrella, become a stronger rival to SAP-owned Concur by reaching new customer segments.įounded by Omar Qari, Josh Halickman and Ted Power, Abacus says it was the first real-time expense reporting solution on the market when it launched in 2013.

The deal’s financial terms were not disclosed. Expense management software provider Certify is beefing up its artillery against rival Concur with the acquisition of Abacus, which enables companies to deal with expenses in real time.

Abacus expense approval