Microsoft released a new app for iOS: Spend. The app automatically lets users track their business expenses. The app was created by the team behind MileIQ, which created a similar app for tracking mileage. The company behind that app was taken over by Microsoft a few years ago.

Spend is the result of Microsoft Garage, an internal incubator where employees can test new ideas to see if consumers and business users want them. However, this is the first time that the MileIQ team has created a standalone app since it was acquired by Microsoft.

Features

The app offers features like taking pictures of receipts, categorizing expenses and making reports, reports TechCrunch. Most interesting, however, is that Spend automatically tracks and matches releases. Expenses are automatically tracked via a linked credit card or bank account. The expenses can then be marked as personal or business. The expenses are automatically placed in the correct category.

It is also possible to add extra tags. In addition, users can add notes to purchases, split expenses, and customize categories and tags themselves. The app can then generate reports on a weekly, monthly or self-chosen basis. The reports can be exported as spreadsheets or PDFs.

Future

According to Microsoft, the Spond app is an early version. In the future, the app will have to be modified as improvements are made. The company did not want to respond to TechCrunch about any future plans for Spend. As a result, it is not clear whether the app will ultimately earn money, or whether it will be included in Office subscriptions, for example.

It is also not clear whether there will be an Android version of the app, and if so, when it would appear.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.