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Shoeboxed Inc. offers a unique and comprehensive solution to the seemingly endless amounts of financial paperwork that businesses need to account for every month. This company processes receipts, business cards, expense reports and other paper documents into a digital format that can be automatically archived on a secure cloud-based server. Users can keep track of their expenses through Shoeboxed's mobile apps for Android and iOS devices. Additionally, users can upload images of business cards to create a searchable contacts list online.

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The Good

  • Data Processing
  • GPS-Enabled
  • Cloud-Based System

Data Processing

Shoeboxed's major competitive advantage is its data-processing workforce that quickly transforms mountains of paperwork into a clean, organized data sheet. Users can upload photos of or send prepaid envelopes containing receipts and other important expense management documents to Shoeboxed, and within days Shoeboxed will transfer this data into a digital format.

GPS-Enabled

This expense tracking software is GPS-enabled (on mobile) for travel expenses, and integrates smoothly with other commonly used applications like ScanSnap, QuickBooks, and EverNote. All data sent to Shoeboxed (whether by mail or by mobile upload) is digitized, then protected with 256-bit SSL (bank-level) security encryption. Once the data is translated, it is verified by an actual Shoeboxed employee before it is uploaded to your account. This is to ensure a high level of accuracy with regard to your expense tracking management.

Cloud-Based System

As Shoeboxed is a cloud-based system, users can send expense reports and upload images at any time, and from anywhere — including other countries. Shoeboxed is used in 100 countries throughout the world, and supports the major currencies of each country it serves. It offers a free monthly package that allows the upload of up to five documents each month, as well as several other competitive pricing options.

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The Bad

  • Integration
  • Billing and Collection Policy

Integration

Because Shoeboxed has positioned itself as a streamlined alternative to hanging onto and categorizing your receipts, some features common to most other expense tracking softwares have gone by the wayside. Shoeboxed does not integrate with your bank account or credit cards, which means that users will have to wait at least a day or two — or however long it takes Shoeboxed's support team to process the data — before they can receive updates on their expense accounts.

Billing and Collection Policy

As is expected with any human-driven service, Shoeboxed has been known to get it wrong on occasions. And while these mistakes do not seem to be with the accuracy of its reporting, some customers have complained about Shoeboxed's billing and collection policy, claiming unauthorized withdrawals from their bank accounts. Furthermore, some of Shoeboxed's pricing options can be rather expensive, possibly as a way to cover the overhead associated with  a human workforce in place of an automated system.

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The Bottom Line

Overall, if you're looking for an efficient way to keep track of your receipts (and keep track of your receipts ONLY) you won't find much better than Shoeboxed; however, if you want it to do anything else, like sync with your bank accounts, this service might not be for you.

And while the free package is ideal for people or businesses with few monthly transactions, be prepared to wait, as subscribers of the free package are listed as "low priority."

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