okticket

Okticket emerges as a specialized digital solution for managing and accounting for professional travel expenses. The company was established in 2017 by founders Iván Abenia, Maria Awad, and Yonathan Funes. The trio's combined expertise in technology and business management likely informed the development of a platform aimed at simplifying a traditionally cumbersome administrative task. Okticket is headquartered in Zaragoza, Spain.

The core of Okticket's business is a software-as-a-service (SaaS) application that enables employees to digitize expense receipts simply by taking a photo. This process eliminates the need to keep physical tickets. The platform automates the extraction of key data from the receipt, such as the provider, date, and amount, and integrates this information directly into a company's Enterprise Resource Planning (ERP) or accounting software. This functionality streamlines the entire expense reporting and approval workflow for both employees and administrative departments.

Okticket's service is designed to ensure that the digitized receipts are compliant with the requirements of the Spanish Tax Agency (AEAT), providing legal validity to the digital copies. This is a significant value proposition for businesses, as it guarantees compliance and facilitates VAT recovery. The platform caters to companies of all sizes, from small businesses to large corporations, that need to manage employee expense reports efficiently. The business model is based on a subscription fee, likely tiered according to the number of users or the level of features required.

Keywords: expense management, receipt digitization, business travel, SaaS, accounting automation, tax compliance, ERP integration, workflow automation, expense reporting, FinTech