Wave, a one-stop money management solution for small business owners, has selected digital transformation solutions provider Q2 to offer the former’s customers digital receipt management solutions.

Through the partnership, Wave aims to offer small businesses a streamlined and intuitive approach to managing expenses along with gaining deeper insights into financial data.

Q2 Spend Manager will allow small and medium-sized businesses (SMBs) to automate and streamline expense management. It will resolve the laborious and error-prone process of tracking expenses.

Besides, the collaboration will enable Wave to support its clients in reducing the burden of manual expense tracking, enhancing accuracy and offering a real-time view of financial transactions.

Wave product vice president Alo Mukerji said: “We selected Q2 as our technology partner because of their expertise and proven track record in the receipt scanning industry.

“Their commitment to innovation aligns seamlessly with our vision, and their solutions empower our team to offer our customers a level of convenience and accuracy that sets us apart in the financial services sector.”

In 2022, Q2 acquired Sensibill which complemented the capabilities of Q2’s end-to-end commercial banking suite Q2 Catalyst. Q2 Catalyst is designed to help financial institutions win, onboard, serve, and grow business client relationships.

According to Q2. its acquisition of Sensibill has improved the company’s extensive data strategy to provide insights that help avoid the hardship of manual data entry for SMBs through Q2 Spend Manager.

Q2 Sensibill vice president and managing director Corey Gross said: “Traditional expense management is a time-consuming and frustrating experience for small business owners.

“We are proud to partner with Wave to help their clients address this major challenge and enable them to drive greater efficiency and accuracy for their businesses.”