Outright and Expensify, two startups focused on small to midsize businesses, are joining forces to help make tracking company expenses easier for employees. Outright, which makes free web-based bookkeeping software, today is releasing in private beta a version of its web site that incorporates Expensify’s API. It’s a natural marriage for the two startups, as Expensify, which the folks over at WebWorkerDaily reviewed this spring, makes web-based software for business expense tracking and reimbursement. People in the beta group will have a chance to try out the version before it’s publicly released in about two weeks.
I first met the Expensify team last week at Peet’s Coffee near GigaOM’s new headquarters when I was lamenting to Stacey how much I hated filling out expense reports. Expensify CEO David Barrett overheard, and not knowing we were GigaOM writers, gave Stacey and I a demo of how Expensify’s software works, right there at Peet’s. Barrett’s willingness to show us the product on the spot was impressive, and it’s this kind of entrepreneurial prowess that could help Expensify find success in the future. The company received $1 million in funding in May.
As a result of the new partnership, people using Outright can have their credit card expense data automatically imported into the bookkeeping site via Expensify’s API. All employees have to do is select which bank issued their credit card and provide their login information for that card, so there’s no need to enter any profile information. Expensify then sets up an account for employees with their bank and in doing so, all their expense information is pushed to Outright’s site through Expensify’s API. Expensify also used its API to build an application for Salesforce and the iPhone.
Though Expensify took second place in last year’s TechCrunch DemoPit, some warned that the company faced competition from companies such as Concur and Shoebox. But Expensify’s relationship with Outright is a feat for the four-person company, highlighting how others are finding value in its API.