I bet there are around 20 to 100 receipts floating around in my pockets, purses and couch cushions. Why is it that we need an undefined waiting period before we toss a receipt? Whichever reason you hold on to your receipt for, I think we can all agree on one thing: they are annoying.
That’s what Michael Altman and Sam Fine decided when they put together the concept for OneReceipt for a business competition in 2006 — which, by the way, they won.
Just four years later they started building the business which is currently in Beta. Judging from the website, these guys know a thing or two about creating a savvy, user-friendly product.
What is OneReceipt?
It’s a pretty simple concept. OneReceipt is a site that electronically stores all your purchases. This is a great tool for someone who wants to keep track of their expenses, but doesn’t want to deal with all those receipts.
Your spending is automatically organized through categories and tags, and can be viewed by company or by order.
How does OneReceipt Work?
Clearly if you purchase your item online it’s pretty simple to track, in store purchases aren’t too bad either. All you have to do with in store purchases is take a photo of the receipt and email it. With online purchases you just link up the email and your done.
This site is great because they tell you when your return policies are about to expire, which is good for those impulse buyers. Another feature that makes them stand out is showing you rewards based on your purchases. Some banks have started rolling out rewards based on your spending, but this model offers added benefits.
For those of you who are nervous about sharing purchase information online, OneReceipt addresses that, according to them, security and privacy is in their blood. The vow not to share your email address and does not store your credit card information. Overall, this is a pretty cool concept and I am sure my wallet wouldn’t mind some extra room for the money I have trouble keeping in it.