Traveling for business can be both enjoyable and productive, but the hassle of manually entering travel expenses can put a damper on the experience. In this light-hearted and entertaining demo that was featured live on stage at Money 20/20 in 2022, Navan (formerly Trip Actions) and Veryfi showcase how their innovative solutions can eliminate the pain of expense reporting. The Vice President of Product at Navan shares his eventful trip to Las Vegas and demonstrates the seamless integration of Veryfi’s technology into the Navan expense app.
Setting the Scene
Mr. Yuval has just completed an eventful few days at the Money 2020 conference in Las Vegas. As a leading software provider for travel and expense management, Navan aims to simplify the process for business travelers like Mr. Yuval. The demo begins with Mr. Yuval checking out of his hotel, accompanied by a cute little companion named Carlos.
The Travel Expense Reporting Surprise
Upon reviewing Mr. Yuval’s hotel folio, some unusual line items catch their attention. There’s a $10,000 minibar charge, $1,500 for cleaning and furniture repairs, and even $2,500 for animal control. Perplexed, Mr. Yuval explains that his trip was both fun and productive, but he’s relieved that he doesn’t have to submit the expense report himself.
The Magic of Veryfi
Curious about expense reports, Mr. Yuval asks what they entail. The response triggers the introduction of Veryfi’s solution. They ask Mr. Yuval to hold up a receipt, and with a simple scan, everything is magically extracted and itemized on the screen. The technology works flawlessly, capturing details like the $10,000 minibar charge instantly.
A Speedy and Efficient Process
Mr. Yuval is impressed by how quickly and accurately Veryfi’s technology captures and extracts the data. With everything automatically populated, including line items and categories, Mr. Yuval’s expense report is practically complete. There’s no need for manual entry, paper receipts, or tedious approvals. The process is streamlined, thanks to Veryfi’s AI-based camera capture technology.
Reflecting on the Vegas Experience
As the demo concludes, Mr. Yuval humorously suggests that what happens in Vegas doesn’t always stay in Vegas. The experience highlights the importance of efficient and accurate expense reporting, ensuring transparency and ease for both travelers and businesses.
The Power of Veryfi Lens SDK and Veryfi API
To shed light on the technology behind this seamless process, the demo explains that Navan’ mobile app is powered by Veryfi Lens SDK. This software development kit provides AI-based camera capture technology, guaranteeing clean and precise document captures. It works not only for travel expense reporting but also for bills, receipts, invoices, and more. Once the document is captured, Veryfi’s technology prepares the image for data extraction and transformation through the Veryfi API.
Rubbish In, Rubbish Out
The importance of accurate data is emphasized, with the demo stating that Veryfi Lens prevents “rubbish in” by ensuring the highest quality document captures. By submitting the document to the Veryfi API, the app receives a standardized JSON file with over 110 fields in real time.
Simplifying Development with Veryfi
The Navan app takes advantage of the JSON data provided by the Veryfi API. It pre-populates all the necessary fields in the expense report, including line items and categories, while ensuring a streamlined user experience. The demo emphasizes the ease of integrating Veryfi’s capabilities into any app, mentioning that developers can embed Veryfi’s OCR API and camera capture technology with just five lines of code.
Build Your Expense Reporting App with Veryfi
To get started with a 14 day free trial of the Veryfi OCR API Platform head over to the API Portal and sign up.