If you still complete expense reports the old-fashioned way--on paper--you know that poring over piles of receipts to itemize your costs is a frequent but unavoidable cause of misery. Today OfficeDrop, the document management company that lets you turn your mobile device into a scanner that uploads your paper documents to the cloud, is partnering with ExpenseMagic, a service that lets you use your iPhone to take pictures of your receipts, which ExpenseMagic's bookkeepers then convert into expense reports.
Through the new partnership, mobile and desktop users will be able to combine OfficeDrop's smart text recognition technology, which makes the text in your scans searchable, with ExpenseMagic's data extraction to generate expense reports from any receipts you scan using OfficeDrop. Receipts will go into an ExpenseMagic "uploads" folder, from which ExpenseMagic's India-based bookkeepers will generate reports that they'll then drop into a "results" folder overnight. The first month of ExpenseMagic reporting is free for OfficeDrop users, after which it will be $4.70 a month for up to 20 receipt uploads, or $12.55 a month for unlimited receipt uploads.
OfficeDrop's marketing director Healy Jones tells Fast Company the company is working on integration with other services. Currently, OfficeDrop is also integrated with invoicing software company FreshBooks and RightSignature, an electronic signature service. It also lets you pluck your OfficeDrop scans and drop them into Evernote. The combined services for small businesses provided by this partnering up is what OfficeDrop says sets it apart from others in the crowded cloud storage business. That includes direct competitors such as PaperAct, which offers a similar scan-to-cloud service for paper documents, and secondary competitors such as Dropbox, offering similar syncing services for your documents but not small business-specific tools. Box, meanwhile, caters mostly to large enterprises.
[Image: Flickr user ben_osteen]