By Daniel Hunter

A revolutionary new technology has been unveiled in the UK this month which will see purchasers receive their receipts in electronic format, heralding a new era in how businesses manage and account for their receipts.

With over 4.5m private sector enterprises in the UK employing 23.4m people, one of the largest issues facing businesses is the administration of receipts. The introduction of the new eReceipts technology will radically change how businesses can efficiently manage their receipts as well as open a new world of possibilities with corporate loyalty and account cards.

The trial is being conducted by eReceipts, which is headed by company Chairman Lord MacLaurin who, during his time as Chairman of Tesco Plc, was responsible for the introduction of the industry changing ClubCard.

The innovative new technology will see retailers issue electronic receipts direct to business accounts accessible via mobile phone, tablets or PC’s. Businesses will be able to monitor, track and collect all their employees expense receipts in a single account, viewable via the web and mobile apps. The account integrates with cloud based accounting software and can be manually exported.

Each employee is issued with an eReceipts account card and mobile phone app which can be used to capture receipts from eReceipts enabled retailers automatically or capture receipts from non participating retailers manually. All receipts are therefore captured by the system.

Additionally, existing corporate loyalty cards, account cards and credit/debit cards can be linked to the eReceipts business account so that employees need not change their existing habits. Employees can also be rewarded by allowing selected and relevant retailers to offer specific promotions.

eReceipts Chairman Lord MacLaurin commented: “eReceipts has the potential to have the biggest impact on retail since the introduction of loyalty cards. Retailers, consumers and businesses all benefit from the system.

“Combining the obvious benefits for retailers, consumers and businesses, with the simplicity of the eReceipts system, we will see the end of the paper receipt.”

eReceipts also brings great environmental benefits with the possible end to the needless manufacturing of billions of receipts each year.

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