Divvy - Detailed Review

Divvy Overview

Divvy, a finance tool integrated with BILL, offers several key features and functionalities that leverage AI to streamline expense management, budgeting, and financial operations. Here are the main features and how they work:

Auto Categorization of Transactions

Divvy uses AI to automatically categorize transactions based on the merchant, transaction information, and historical data. When a purchase is made on the BILL Divvy Card, AI fills in the Category and Expense Category fields, saving time and improving accuracy. This feature can be toggled on or off in the company transaction settings.

Simple Receipt Capture and Fast Submission

Employees can capture receipts by snapping photos using the Divvy mobile app. The app automatically parses and matches these receipts with card transactions, eliminating the need for paper receipts and speeding up the expense submission process.

Flexible Workflows and Automated Routing

Divvy allows administrators to set up customizable automated routing rules for expense reports based on parameters such as employee, department, and expense type. This ensures that reports are sent to the right managers for approval, reducing manual intervention and speeding up the approval cycle.

Smart Matching Engine

The AI-driven smart matching engine automatically matches expense line items with related transactions, receipts, GL codes, and cost centers. This automation helps in accurate categorization and reduces the need for manual data entry.

Configurable Approval Flows

Administrators can set up conditional, multi-step approval chains based on spend policies. This allows for a structured approval process that ensures compliance with company policies while automating routine approvals.

Anomaly Detection

Divvy’s AI flags unusual spending patterns, such as duplicate charges or spend outside expected ranges, for review. This helps managers focus on high-risk or high-impact expenses while routine spending is automatically approved based on policy compliance.

User and Card Management

Administrators can easily manage company credit cards, including opening, updating, or canceling cards associated with cardholders. This centralized management ensures better control over company card programs.

Custom Spend Controls

Divvy allows administrators to apply configurable spend limits and restrictions per user or department. This feature helps in enforcing budget constraints and reducing unauthorized spending.

Transaction-Level Visibility

The platform provides real-time reporting with details on merchant, location, spend category, and more for all card purchases. This visibility helps in efficient oversight and risk mitigation.

Integration with Accounting Platforms

Divvy integrates bi-directionally with leading accounting platforms like QuickBooks Online and Xero. Expenses from Divvy automatically sync to the accounting system as approved, and charges and payments sync back to Divvy for centralized reporting. This integration ensures accurate financial reporting and reconciliation without manual duplication of data.

AI in Accounts Payable and Spend & Expense

BILL’s AI, integrated with Divvy, helps in various aspects of financial operations:

• AI Invoice Data Extraction: Extracts critical invoice details and populates fields within a bill, ensuring accuracy.
• Vendor Profiles: Helps identify vendor address information from incoming invoices.
• Duplicate Invoice Detection: Warns about duplicate invoices to prevent double payments.
• Document Splitting: Automatically splits documents containing multiple invoices.
• W-9 Data Collection: Extracts data from W-9 forms and adds it to vendor records.
• Identify Missing Bills: Highlights potential missing bills based on historical data to prevent late fees.

These features collectively streamline financial processes, reduce manual work, and enhance the accuracy and efficiency of expense management and budgeting.