Itemize

Itemize offers a cloud-based business payout management platform that uses AI to automate the B2B purchasing, procurement, and business expense processes. The AI captures data from receipts and also processes taxes, before automating the accounts payable (AP) workflows through to payments. Itemize helps employers monitor compliance with spending policies as well. For instance, Itemize can track mileage for business trips to ensure the transport expenses are based on mileage rate and distance.

Users can also access expense reports and insights through the platform and automate its accounting and reporting processes through integrations with Xero and QuickBooks. Itemize can also be integrated with digital payment platforms such as Venmo to reimburse employees.

The business follows a subscription-based payments model and charges on a per-user per-month basis.

Key customers and partnerships

Itemize customers include Mastercard, Quipu, and Banktel. The company noted that it had around 5 million merchants and vendors using the platform as of April 2022 and was supported in 90 markets, facilitating transactions in 115 currencies.