Today, Tab is introducing Automatic Expense Reconciliation for Restaurants, our most requested product to date.

‍Restaurant operators across the US collectively spend over 250 million hours a year reconciling expenses. The sheer volume of vendor payments, invoices, and receipts that restaurants need to manage is unlike any other industry.

On average, it takes 5 minutes of manual work to find the right invoice or receipt and match it with the vendor payment. Tab is turning that 5 minutes of work into a simple 5 second review. With restaurants making 100s of vendor payments a week, the impact is substantial.

How it works:

1. Vendor Payment: Your Tab Corporate Card is used for a vendor payment
2. Notification: You are instantly notified of the payment via email and can simply respond with the invoice or receipt - we match it to the payment‍
3. Reconciliation: If an invoice or receipt isn't provided, Tab automatically searches across all invoices & receipts to find the correct file & match it to the payment
4. Accounting Sync: We automatically push this reconciled expense into your existing accounting software for review

Each restaurant location gets a unique Tab email address that can be provided to vendors for them to copy on all digital invoices they send. Any invoice or receipt can also be sent directly to this email for processing. This data feed is what allows our AI-powered Reconciliation Engine to 'search' across all invoices & receipts to ensure every payment is reconciled with 95%+ accuracy within minutes of a transaction.

The benefits of Automatic Reconciliation are significant:

• Save time & money: Eliminate 97%+ of the costly manual expense reconciliation work
• Improve employee experience: Eliminate employee expense reports & reimbursements
• Catch errors: Easily fix discrepancies quickly before they affect financial statements ‍
• ‍Ensure compliance: Ensure expenses comply with accounting policies & regulations‍
• Eliminate fraud & rogue spend: Prevent duplicate payments or unauthorized expenses ‍
• Control costs: Gain real-time control & visibility over restaurant costs
• Be prepared for an audit: Always have accurate and up-to-date reconciled expenses
• Improve budgeting: Access better data when budgeting and planning

Over the last 3 years, we've processed hundreds of thousands of vendor invoices from hundreds of vendors. Our modern email capture process removes the need for restaurants to touch invoices entirely - no scanning or uploading - its all automated. Unifying this with our new corporate card for restaurants has been our most requested capability by far so we're incredibly excited to start bringing this to more restaurants.

In the coming weeks, we will also be adding Automatic Reconciliation support for payments made by vendor direct debits.

Try Tab today for free at tabcommerce.com/start or book a live demo. Getting fully up and running takes just a 30 minute call with our team.

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Tab Commerce partners with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. Tab Visa® Commercial Credit cards are powered by Stripe and issued by Celtic Bank.

1. Our calculations are based on platform data, industry research, customer feedback, and info on alternative options. Your actual savings may vary.
2. Our calculations are based on platform data from automated invoice & receipt reconciliation, streamlined vendor payments, and accounting integrations in addition to industry research, customer feedback, and info on alternative options. Your actual time savings may vary.