Posted Jun 6th 2008 3:00PM by Steven Sande
May 14, 2008

TUAW Review: NEAT Receipts for Mac Advance Release

A few weeks ago, the NEAT Receipts team announced an Advance Release of their receipt scanning and text recognition package for Mac. A few days later, FedEx delivered a small box containing the shipping product, and I’ve been feeding NEAT Receipts a steady diet of receipts and any other paper I can get my hands on ever since.

While the $179 Advance Release doesn’t have the full functionality of the Windows version, such as a business card module or the ability to export receipt information to financial software, it is a very good first attempt at a Mac product. The scanner is a tiny piece of sculpture that can be easily carried along on business trips to capture expense information - it’s that small and light.

As you have probably surmised, NEAT Receipts for Mac Advance Release is more than just a slim little scanner; it’s also a powerful and adaptive piece of Mac software that performs intelligent optical character recognition and automates the process of moving receipt information from paper to digital format. Read on for the full review and be sure to check out the gallery below for photos and screenshots.

Installing and launching

The NEAT Receipts software must be installed prior to attaching the scanner for the first time, and it comes in a standard Mac .dmg file. Installed, the application takes up 237 MB of hard drive real estate. As soon as the software installation is complete, your Mac reboots.

Immediately after launching the software for the first time, I was notified that a newer version was available. Instead of entering the license key, I shut down the installation and let Firefox download the 122.2 MB updater. The update required yet another restart, which was a bit annoying - what do they think this is, a Windows application?

Upon launching the updated application, I was greeted with a very neat and clean Welcome screen (see gallery for a screenshot). According to the Getting Started pamphlet, it was time to connect the scanner and calibrate it. The scanner is a tiny device, only 10.8″ x 1.6″ x 1.3″ (27.4 cm x 4.1 cm x 3.3 cm) in size, with its own carrying bag — a very nice touch. It’s also very lightweight, weighing in at a svelte 10.6 ounces (300 grams). NEAT Receipts requests that you calibrate the scanner before using it, and they include a calibration card to get everything aligned properly.

Scanning receipts

The first couple of receipts I scanned were from OfficeMax and had fairly high contrast, so I expected them to scan well and was not disappointed. The receipts were scanned in about 10 seconds each, followed by a 20-30 second recognition sequence. When that was done, I had not only a fairly decent scan of the receipts, but NEAT Receipts had filled in information about the vendor, date of purchase, amount, and payment type (i.e., Visa, cash, check, etc…) in a small form on the right side of the screen. The receipts didn’t have a field called “Sales Tax”, so that field wasn’t filled in. However, when I double-clicked the image, I found that I could drag the Tax line of the receipt image to the Sales Tax field to populate it. In fact, every line of text that had been recognized was highlighted on the image in a light yellowish-orange tint, and each one could be individually dragged to the form if I needed the information. Very cool.

I went to my completely unorganized receipt drawer and grabbed a handful of receipts to scan. Many of these receipts were crumpled from living in my wallet, some had faded, some were in color (movie ticket receipts), and they were from a variety of vendors. NEAT Receipts surprised me in many cases with its accuracy and uncanny ability to “know” what category of vendor a receipt belonged to. For instance, when I scanned in a receipt from Red Robin (a burger chain), the category was automatically set to Meals/Restaurant.

Next, I started feeding in receipts that were hard for me to read. For instance, one was about two months old and quite faded, but the results were still fairly good. While it didn’t bring in the name of the restaurant automatically, it was able to let me drag what it thought was LiV Ricci’s (actually Lil’ Ricci’s) into the Vendor slot of the data page and correct it. Not bad!

Did it recognize 100% of the receipts? No. The receipts that weren’t recognized were usually so badly crumpled, ripped, and faded that I could barely read them, so it’s unlikely that any optical character recognition (OCR) software would do any better.

Using the scanner with other apps

How about using the NEAT Receipts scanner with other organization software like Yojimbo or Evernote? If you scan in documents as PDF files, you can use the NEAT Receipts scanner to grab documents for those other applications.

The scanner has only two buttons on top of it. One is marked SCAN and starts the scanning process. The other is marked PDF and is used if you want to save an image in PDF format. To test this, I took some checks from clients, placed them face-down into the maw of the scanner, and punched the PDF button. Immediately, a standard Mac Save As… dialog appeared, so I gave the file a name and pressed return. The scan of a standard voucher-sized check took about 30 seconds. At the end of that time, I had a very clear PDF file that I could just drag and drop onto Yojimbo. For the native version of Evernote, I had to create a new note and then drag the PDF onto the note. Once Evernote had synced with the online database, I was able to view my new PDF from the web client.

I decided to use the scan-to-PDF feature of the NEAT Receipt software to capture business cards into Evernote. Previously, I had used Evernote’s iSight Note capability, but the results were often blurry and I could see my fingers holding the cards. Scanning the files with the NEAT Receipt scanner meant that the results of Evernote’s online OCR were much better, so searching business cards became a lot more accurate.

Another feature of the scanner that I love is that there is no power brick — it is bus-powered, so there is one less weighty power supply that I need to drag along with me on trips. The scanner has a simple straight-through paper path that prevents jams, and it handled flimsy receipts, business cards, and full US Legal sized documents (8-1/2″ x 14″) without a hitch. NEAT Receipts says the scanner can handle documents down to 1″ by 1″ (2.54 cm x 2.54 cm) in size.

The NEAT Receipt software has several different ways of viewing scanned documents, all of which should be familiar to Leopard users. There’s an item view, an icon view, and an Image Flow view that is supposed to work like Cover Flow. Unfortunately, I could never get the Image Flow view to work properly - I saw the currently selected document but there was no way to flip between the documents.

The Competition

There are other “compact” scanners on the market. Fujitsu’s ScanSnap S300M is one of the more popular compact Mac scanners in the field right now. It has several advantages, including double-sided scanning and a 10-page sheet feeder, but is larger and much heavier — about 3 pounds (1.4 kg.). The ScanSnap also has dedicated business card OCR software (Cardiris) and a heftier price tag — $295 MSRP.

The Pentax DSmobile 600 scanner is less expensive than the rest at $135 MSRP and is about the same size and weight as the NEAT Receipt scanner. However, it does not include any Mac-specific software and is meant for use as a TWAIN-compatible scanner for use with other applications.

Finally, the IRIScan 2 Portable Scanner ($149) comes with a full suite of software for business card, text, and photo scanning. It’s an 11.7 ounce (332 gram) lightweight that could be the only real competition to the NEAT Receipts scanner.

Conclusion

I tend to like products that are well-designed and simple to use, and NEAT Receipts for Mac Advance Release scores high on both counts. I’ll be curious to see the updated software that will arrive with the “full release” to see what new features and capabilities this device gains.

Would I buy one? Yep. I currently have a flatbed scanner that I use for assorted purposes, but it doesn’t provide the same utility or ease of use that I’ve seen with NEAT Receipts for Mac. It’s also not something that I can throw into my computer bag when I’m off on one of my business trips. I’ve already told my spouse that this is something we could use to finally control the tsunami of paperwork that we’re constantly battling.

Win NEAT Receipts for Mac Advance Release!

Now, what you’ve all been waiting for - the giveaway! TUAW and NEAT Receipts would like to put the NEAT Receipts for Mac Advance Release into one lucky reader’s hands. Here are the rules:

By Tip Diva
May 14, 2008

» Product Review - NEAT Receipts

In the quest for an organized desk, I, Tip Diva, was excited when I stumbled upon NEAT Receipts Professional. The small desk scanner promised, “Organize your paper, simplify your life.” Well, I decided to test it out to see if it was indeed true.

And, boy, was I pleased.

The scanner arrived today via UPS and I immediately tore it open, ready to set it up. It looked simple enough - attach via USB, and good to go. I hastily went to plug it in, but was greeted by a “STOP!” sticker conveniently placed over the unit, reminding me to install the software (and read directions) before setting up the unit. Drats.

But the unit came with an extremely easy installation guide, so I was up and running in no time. The most difficult part was my trying to figure out how to disable my anti-virus program. But the overall installation took four minutes, tops, and didn’t require a lot of work from me. Bonus points.

The scanner is about 12 inches long and weighs perhaps a pound or two, so it easily found a place on my desk. It also comes will a wall/desk holder that allows you to store the scanner upright when not in use, further saving you space on your desk. Space is good.

You are required to calibrate the scanner before you by feeding a pre-printed calibration sheet, which was provided, through the scanner. Dialog boxes walk you through each step, so the set-up was a no-brainer. After reading through a quick Flash tutorial, I was ready to scan my first receipt, one for decongestant purchased this morning at CVS. Here we go…

The scanner grabbed my receipt and and within five seconds, the crooked and slightly crumbled receipt was staring back at me from the screen, standing straight and looking like brand new. To the right, the NEAT Receipts Professional software had filed the receipt into a personal expenses folder, noting that I paid $6.59 with no sales tax by credit card. Hmm, that was a little too easy. Let’s try tricking the program with a worn-out, crumbled, slightly torn receipt from Kohl’s.

And in five seconds, I had a receipt on my screen, noting that I paid $107.35, with 65 cents in sales tax, in cash. Well, that wasn’t entirely true, but the receipt was misleading - it had two different tax lines, a discount line, and I paid with a Kohl’s charge. No biggie, because you’re easily able to correct the entries in the program. But I was impressed that scanner was able to tell the receipt was from Kohl’s, because that was the part that was torn.

My next test was to see if the CVS and Kohl’s receipts would export easily to Quicken 2008. By clicking on the folder containing my receipts, I was able to quickly export the information into a *.qif file in one click. I opened Quicken, imported the file, and voila - a seamless transition from program to program. I just about jumped for joy, because I was tired of manually typing in every cash receipt into Quicken. This just made my personal budgeting 100 times - no, 200 times - easier.

The next test was the business cards. As a journalist, I have quite a bloated Rolodex, so streamlining them onto the computer intrigued me. I picked five very different business cards with different orientations, colors and business logos. Let’s see if NEAT Receipts can handle that… and it did. Each card scanned perfectly into the system, with names, companies, titles, and contact information neatly organized into entries that can be exported into contact files, vCards, PDFs and more.

The “Documents” featured worked as well as the other two features, and I am able to group the scanned documents into as many folders as I please. The PDF capabilities of the program make digitizing and sending these documents even easier. The software also has a “Tax Reports” feature that I have yet to use, but am sure will prove helpful once the dreaded month of April rolls around again.

Overall, I give NEAT Receipts Professional a 10 out of 10. No longer do I have to enter information manually into budgeting software. No longer do I have use my flatbed scanner, wait 20 seconds for the document to scan, then save a document into a non-searchable *.jpg file. This product truly does what it says.

The $229 price ($179 for Mac) may turn off buyers, but I believe it is well worth the price for the speed, accuracy and integration. The company also offers certified refurbished scanners for $99. If receipts, documents and business cards are taking over both your personal and business life, it will likely be worth your money, as well.

So if you’re looking to organize your office, reduce your paper usage or manage your personal budget, give NEAT Receipts Professional a try. It has Tip Diva’s enthusiastic stamp of approval.

Link to Full Article

By Steve Bass
May 5, 2008

» Buried in Business Cards — And Rescued by NEAT Receipts

Note: This a 3-part series written on the PC World blog.

Part I. Buried in Business Cards — And Rescued by NEAT Receipts

It happens at every trade show: I say no, but it doesn’t matter — everyone I meet sticks a business card in my hand anyway. At this year’s CES, I collected over 80.

Coincidentally, every year the NeatReceipts PR people pitch me on their little scanner and software that scans, recognizes, and manages business cards.

Each year I find excuses not to try one: I have plenty of things cluttering up my desk already. The device insists on using a USB connection on the back of the PC and I’m running out of free ports. I don’t need another contact management application. I’m not particularly interested in scanning or managing receipts, documents, or tax reports, the other three NeatReceipts categories. And even discounted, $200 is too expensive for my budget.

Yet I kept looking at stacks of rubber-banded cards — easily the collected works of a half-dozen trade shows. I felt technologically behind the times each time I manually sorted through the cards looking for someone’s vitals.

Neat-O NeatReceipts

I’ve spent a week with NeatReceipts and most of my fears were quashed on the first day. I ignored the instructions to crawl under the desk and connect the scanner to a USB on the back of the PC. Instead, I used a front-of-the-PC USB port and it worked fine. It also worked on a powered USB hub, and that way I kept the scanner on a side table, out of the way.

My other concern — about using the NeatReceipts contact management tools — was baseless. Once the business cards are scanned in, I can export one or all of them to a variety of formats including Word RTF, a PDF, V-card, or a standard, CVS text file.

Part II. NeatReceipts: Business Cards and (Almost) Perfect Scans

It takes about 10 seconds for business cards to get scanned and the data optically recognized, then displayed in the NeatReceipts scanner’s software. (Just tuned in? Read Buried in Business Cards — And Rescued by NeatReceipts.

After each card is individually scanned, it’s shown as an image in one panel, with the contact info in another two areas. I found it amazing how NeatReceipts could extract information on the card and get it into the correct field.

NeatReceipts pulls out the usual stuff — name, address, e-mail, and Web site. If the business card labels the phone numbers, NeatReceipts sticks them in the right fields: phone, mobile, and fax. Anything without a field, say, “Universal Remotes,” goes into the Other category. I haven’t played with it, but you can add custom fields.

I can scan in black-and-white or color, and if the card has a back side (behave!), I can scan that, too. The data on the back of the card doesn’t get assigned into info fields — the whole back is just read in as an image. I’m also able to attach anything else I scan to the contact info record, maybe a document or a photo. That’s handy.

NeatReceipts recommends I scan the card in horizontally. Yet even if I stuck it in vertically, the software rotated the scanned image on screen so it was readable.

One small problem: Even though I paid attention, when I scanned a card with material on both sides, I often scanned the back first. Unfortunately the scanned image can’t be reassigned as front and re-processed.

Are You Really Accurate?

There were a few times NeatReceipts failed to do a perfect OCR. It was mostly because the business card paper was very shiny or the lettering was angled. There were other NeatReceipts goofs, but I don’t think they’re serious. For instance, “SSPR” was changed to “Sspr;” some names dragged along an underscore (”Sunar_”); and “TigerDirect” became “LigerDirect.” It was no biggie, and fixing the typos was a heck of lot less work than manually entering all the data.

I scanned about 60 cards in less than 30 minutes, and that included time scanning the wrong side, false starts (when I didn’t push the card into the scanner far enough), and correcting any mistakes. I imagine as I use NeatReceipts more often, my scanning skills will improve.

So far, I’m seeing why so many people feel the device is a worthwhile business tool, and why it may be worth the $200.

Part III. Neat Receipts: Scan and Manage Receipts and Docs

Neat Receipts obviously handles more than business cards.

I’ve already tried the scanner on a big stack of business cards, so I figured I’d play around with the receipt functions (See Buried in Business Cards–And Rescued by Neat Receipts and Neat Receipts: Business Cards and (Almost) Perfect Scans for a quick background.)

Most of the receipts I end up with each month are from credit card transactions and I have a sophisticated system for dealing with them. First I enter the data in Intuit’s QuickBooks; then I paper-clip the stack, put it in a drawer, and wait for the credit card bill. After reconciling the bill, I save the receipts that are for legit business expenses (and probably not-so-legit), using the same paper clip. Then I stash the stack in a portable storage device, an envelope marked “2008 CC Expenses.”

To say that Neat Receipts makes handling receipts lots easier is an understatement. Scan them–portrait, landscape, or upside down, it doesn’t matter–and the scanner’s software optically recognizes the vendor’s name, date, type of credit card, expense category, and payment amount–it even breaks out the tax.

Scan and automatically categorize your receipts.
Assign a vendor an IRS tax category–in my case, lots of Schedule C stuff–and Neat Receipts organizes the receipts in subsequent scans.

Neat Receipts remembers the assigned tax category.
Once I’ve scanned the receipts, I push the data right into QuickBooks. When I need to send expense receipts to my pesky PC World office manager, the program turns them into PDF files. (Neat Receipts supports Intuit Quicken and Microsoft Money, too.)

There are plenty of ways to export data from Neat Receipts.

My CPA is going to be surprised this year because I plan to use the Neat Receipts to print tax reports gathered from my receipts. The program supports Schedules A through F, Form 1040, and a slew of other forms. [Note to George: You’re going to love this!]

More Than Receipts
A buddy of mine, John D., mentioned that he’s paper-free and his file cabinets are empty. The one thing John said that really struck me is that for safekeeping, he’s scanned in all his business records–tax returns, insurance policies, financial docs–and burned them all onto one DVD. Boy, does that makes sense. And Neat Receipts can do all the scanning.

Neat Receipts: Worth the Money
I was skeptical about Neat Receipts. In this economy, spending $200 is no longer trivial. But I’ll tell you what: If you have lots of receipts you want organized, scads of business cards with data you need on your PC, and wish your desk was free of paper, Neat Receipts is perfect for you.

By Brandie Kajino
May 1, 2008

» Product Review: Neat Receipts

I admit it, I have a new love in my life. When I went to the NAPO Conference in Reno last month, I had one place in the expo that was a sure bet for me: Neat Receipts.

Neat Receipts is a document scanner. It is so portable, kinda like the size of a long burrito (it will fit in a laptop bag). The description from their website:

“Organize life’s paper trail with NEAT Receipts.

NEAT Receipts will even read and manage information scanned from receipts including vendor purchases, allowing you to keep track of your expenses.”

If you’ve never heard of this product before, you’re in for a treat! Here’s my experience.

The Delivery & Install

Mine arrived at my door, and I felt like a 5 year old on Christmas morning. Too bad my week was a little out of control, so it sat in my office for five excruciating days before I pulled it out of the box. Once I did, I was pleasantly greeted with a slogan on the side of the box encouraging customers to recycle (*happy dance*).

The packaging was, uh, neatly arranged and it was very simple to get out. Neat Receipts comes with a Quick Start Guide that makes it a snap to get things going. I popped in the installation CD, and was advised that there was a new version of the software. It took about 25 minutes to download (I have DSL). I was then prompted to plug in the scanner and set things up. All of this unpacking and installation took about 40 minutes total, with about 5 minutes of active time from me (the rest was allowing for the download time).

Using Neat Receipts

After installation, I was ready to rock and roll. I decided to hit it hard with one business card after another. Neat Receipts handled them like a dream. I checked each one quickly for accuracy, and a few things needed a little tweaking but overall it was really pretty accurate. Some more “artsy” cards were a bit of a challenge to read for the software, but honestly I had one that was a little challenging for me to read.

Scanning each document was very simple, just put it in the front face down, press “Scan”. The software stores an image of the card, both front and back (you have to scan them separately, which just takes a few seconds). That way, I don’t have to have a hard copy clogging up my desktop and filing cabinet (Yippee!). Less paper to manage, more time for me. This feature is also great for visual people. (I like to look at cards for various reasons, so this was a bonus for me too.)

So Many Options

There are so many ways to use Neat Receipts, and I am just figuring it all out. I know I’m going to have fun with all the things it can do! Here’s a few:

• business cards
• receipts (for bookkeeping, taxes, expense tracking, etc.)
• documents
• articles & resources you want/need to keep
• tax forms
• your idea here _____________________

Neat Receipts might be for you if:

• You have mountains of business cards you aren’t sure what to do with
• You carry a ball of receipts in your pocket
• You hate data entry and procrastinate doing “bookwork”
• You want a solution to will help you downsize your paper
• You want a simple, easy solution for around $200

Overall rating (1-5): 5

[See full article]

By Justin Martin
March 12, 2008

» Organization Pays Dividends

Press your tax preparer. If your CPA seems hazy or hesitant, consider hiring one who is more aggressive. How aggressive? You want to claim every penny you’re due, but you don’t want to risk the ire of the IRS. One good rule of thumb is to submit your prospective write-offs to the laugh test.

“If it makes you snicker, chances are you’ve gone too far,” says Hurok.

With the 15th of April just weeks away, many entrepreneurs are involved in a fevered annual exercise. ‘Tis the season to reconstruct last year’s expenditures. Owners and their bookkeepers are rifling through bewildering piles of dimly remembered receipts.

This is no way to live. Better to have a thorough system for recording expenses. “Have someone gather all receipts, annotate them when necessary, go through them regularly - once a week or month - and place them in well-labeled folders,” urges Chet Burgess, owner of Brookwood Tax Service, based in Atlanta.

Vigorous record keeping will help you claim all the deductions you’re due. It will also make you far better prepared for an encounter with the IRS, an increasingly likely event. A few years back, the IRS — under congressional scrutiny for overzealousness — trimmed its collection activities. Now the pendulum has swung back. Small businesses are notoriously sloppy record keepers, say accountants, making them easy marks for the IRS.
Keep Out the Taxman

Neil Mammen, 45, is founder of Tentmaker Systems, a San Jose chip and circuitboard fabricator with eight employees. Recently he had a brush with the IRS that served as a wake-up call. In 2006 the agency contacted him about $30,000 worth of receipts. They assured him that this was not an audit … yet. They just wanted clarification. Yes, the IRS often takes steps short of an audit, contacting business owners by mail. Fail to satisfy them and an agent will probably show up on your doorstep for a dreaded “field audit.”

As a typical disorganized entrepreneur, Mammen found that he was woefully underprepared. Some of the receipts in question he found stuffed in a shoebox (no kidding). For others, he had to call vendors and ask for invoices. Others still required him to contact Visa to get originals at $10 a pop. (The IRS won’t usually accept a credit card statement, though it will accept the digitized receipt copies that some card issuers send with each bill.) “It was scary, a nightmare, and it ate up a lot of my time,” says Mammen. Ironically, those $10 receipt fees — along with any other costs incurred while satisfying an IRS inquiry or audit — are tax-deductible. In the end, the IRS did not deny any of his deductions.

Mammen has since found record-keeping religion. He uses a device called Neat Receipts to scan receipts directly into his PC. There he organizes them according to standard categories such as meals and office supplies. Then he backs the whole thing up in triplicate. Tentmaker Systems is profitable and had $1.6 million in revenues in 2007. After getting more organized, Mammen says, he was able to increase his deductions by about 20% this past year.
Find tax breaks for your business

A word to the wise: Even original receipts won’t be enough to appease the IRS in certain cases. With entertainment, for example, you need to annotate the receipt, listing who was present and what business was discussed. “The IRS likes to look closely at things that seem fun,” says Joseph Anthony, a tax preparer based in Portland, Ore. “Items like cars and travel and cellphones require enhanced substantiation.”

This may seem like a hassle, but it pales in comparison with the kind of mayhem the IRS can stir up. If you are audited, typically agents will start with one year’s tax return. Produce neatly organized receipts, and they may just go away. Arouse the IRS’s suspicions, and it may start digging into other years.

At their discretion, agents can disallow questionable or poorly substantiated deductions. Meaning that a business owner has to pay back taxes. Throw in interest on the back taxes and penalties, and the tab can grow to be eye-popping. In rare instances, when the IRS suspects out-and-out fraud, it brings criminal charges that can result in jail time.

February 28, 2008
Cookie Magazine

» At-Home Accountant

We hate to be the bearer of bad news, but tax season is upon us (only 47 days!) Instead of panicking, consider investing in the Neat Receipts scanner. Just run your receipts through it, then toss ‘em. The thin, brilliant device hooks right up to your computer to import copies into Works, Outlook, or Excel to create searchable, IRS-approved copies. You can analyze your spending, organize receipts by category, and even export them to Turbo Tax. We can’t make any promises about the size of your return, but you will sure feel organized!

The Boston Globe
February 3, 2008

» As scanners shrink, their tax uses grow

It’s tax time, and for management consultant Eric Ochieng, that used to mean spreadsheets, receipts, and other scattered documents.

But now Ochieng handles his digital record-keeping with a portable document scanner that comes with software for categorizing images, whether it’s a business card or a credit card statement. Ochieng says he also tracks all of his travel expenses, scanning in receipts and recording out-of-pocket and business costs. And at the end of the year, he runs ad hoc reports that he gives to his accountant.

“I have up-to-date information about expenses incurred, and immediate access to receipts and related notes, which are saved on my laptop,” says Ochieng.

That clunky scanner, formerly a heavy flatbed machine, has downsized to portable document scanner that can easily fit into a briefcase and is typically made to scan receipts, business cards, and other small papers, as well as for letter-size documents.

Most of the scanners use technology called optical character recognition to recognize and interpret text, even analyzing the information and putting it in folders that users organize. You can export data to Excel, Quicken, Adobe Acrobat, or other software.

For example, Jeff Vogel, director of marketing at the Philadelphia-based technology company Neat Receipts, says for taxes, you can scan last year’s receipts, assign the appropriate category (such as “Charitable Donations”), then run a report that automatically aggregates the data and even tells you where it belongs on your federal tax form by line item. The Internal Revenue Service accepts scanned receipts, so you can back up your data and dispose of all those pieces of paper.

One drawback of these scanners is that for prices of $150 to $250 and up, they serve only a single function. Many do not have compatibility with Mac computers. And they usually can’t handle paper larger than 8½ by 11 inches. They also have trouble deciphering faded or handwritten receipts.

But Chris DiOrio, senior category merchant at Staples, says that he finds the portable business card machine is an efficient productivity tool.

“Rather than have a stack of business cards or key in the information, I can scan in my business cards and have the information automatically saved to Outlook,” says DiOrio, who adds that after returning from trade shows or meetings, he’ll scan the many business cards he has gathered and then save all of the contacts.

Vogel of Neat Receipts says that he’s heard from customers who use these devices for personal and hobby applications as well. Uses include scanning clipped recipes to create a database of family favorites; children’s artwork, report cards, and birthday cards for scrapbooking; prescriptions; checks; and warranties and receipts for product purposes.

“You can take static information locked in paper and turn it into actionable data that you can use,” says Vogel.

Entrepreneur Magazine
January 2, 2008

» Take It With You

Neil Mammen knows firsthand the benefits of digital record keeping, especially while he’s on the road. In late 2006, the founder of San Jose, California, engineering design firm Tentmaker Systems received a letter from the IRS requesting itemized proof for nearly $30,000 in past business expenses. His accountant had worse news: Mammen’s credit card statements would not suffice; he needed individual receipts.

So Mammen, 45, spent close to two months retracing his spending steps from almost two years earlier, collecting receipts and invoices from his own files and contacting his vendors for copies. Frustrated by the hours he wasted, Mammen made what he considers a worthwhile investment: a portable document scanner from technology company Neat Receipts.

Neil Mammen knows firsthand the benefits of digital record keeping, especially while he’s on the road. In late 2006, the founder of San Jose, California, engineering design firm Tentmaker Systems received a letter from the IRS requesting itemized proof for nearly $30,000 in past business expenses. His accountant had worse news: Mammen’s credit card statements would not suffice; he needed individual receipts.

So Mammen, 45, spent close to two months retracing his spending steps from almost two years earlier, collecting receipts and invoices from his own files and contacting his vendors for copies. Frustrated by the hours he wasted, Mammen made what he considers a worthwhile investment: a portable document scanner from technology company Neat Receipts.

Neat Receipts has two primary products. Neat Receipts, which costs $229, weighs 10.6 ounces and measures 10.8 by 1.6 by 1.3 inches. It can handle receipts, business cards and documents up to 8.5 by 14 inches. Neat Business Cards, a product introduced a few months ago, weighs less than 4 ounces and measures approximately 4.4 by 2.1 by 1.1 inches. It’s priced at about $200. Both scanners process about four items per minute, according to the company, and both come with software for cataloging the digital images.

Now whenever Mammen makes a purchase or meets a new professional contact, he scans the paper receipt or business card as soon as possible and files it away with some contextual notes. He also stores one-page documents, such as contracts or nondisclosure agreements.

Mammen says scanning the business cards helps him keep closer tabs on contacts. Neat Business Cards, for example, can be set to scan cards directly into contact files in Microsoft Outlook. Mammen also finds it easier to answer unexpected questions while on the road for projects.

“I realized that the easiest way to keep track of this stuff was to scan it all into one place and invest in the software to organize the documents,” says Mammen, whose 2007 sales were $1.6 million. “When I finally gave my accountant all the receipts to fulfill the IRS request, she said she had never seen anyone so organized.”

A recent update to the NeatReceipts scanning software now lets you scan several cards at once and process the images all in one batch. Previously, the scanner could only handle one card at a time. “Little ideas like this make a big difference,” says Mammen, who notes that Neat Receipts has been responsive to his recommendations to include certain features.

USA Today
December 14, 2007

» Gift ideas for the entrepreneurs on your list

If you’re still trying to figure out what to give the favorite entrepreneur on your holiday list (or are putting together a wish list of your own), here’s a list of my suggestions of gifts that entrepreneurs and small business owners would love.

Useful and fun

Neat Receipts: This ultra-portable scanner makes it easy to keep track of all those credit card, taxi, and hotel receipts you get on the road or the business cards you have on your desk. Neat! $190.

Apartment Therapy
November 08, 2007

» NeatReceipts Scanalizer in the Test Lab

Yesterday, Brandy asked about how to organize her receipts via scanning and software, and we’ve got an option we’ve used ourselves that could fit at least part of her bill. The NeatReceipts Scanalizer comes with a thin, 11″x2″x2″ scanner and proprietary software. So, is it something we’d recommend to Brandy, and how did our experience go? Check out the full review after the jump.

*Note: Our version of the software is 2.7.5; 3.0 is now available

Here’s the main screen when you open up the software, once you’ve scanned in a few items. We’re using it for more than just receipts, including bills, pay stubs and eventually, we’ll scan all the loose magazine pages we’ve saved over the years and organize those as well.

After you scan the receipt, the software analyzes it (hence the term scanalizer) and puts it in the folder you’ve indicated. You can edit any of the information or go even further and split out a receipt multiple times–great if a receipt has items that need to be allocated to different parts of your budget.

When we were scanning our first pages, it often mis-identified the vendor, and we had to go in and manually correct it. For receipts, it usually classified the receipt correctly after we manually corrected it, but not always for non-traditional receipts such as medical bills.

One of the great features is the ability for it to integrate with other software, or have the information exported to an Excel file, for example, if you work better by sorting gathered information in columns.

Note that yesterday we told Brandy that Quicken does allow for images to be tied to an entry, so the scanning can come from any scanner, but we don’t know if Quicken enters the info for you like the NeatReceipts scanner.

There are tons of “helps” available along the way, almost too many because it slows things down, especially if you didn’t mean to hit a help button. Once you get the hang of it, it goes much more quickly. The scanning didn’t seem to happen as fast as they claimed, but we do like the very compact nature of the scanner.

The scanner is small enough for you to take with you in the car on a long trip and catch up on scanning (with a laptop), or to plop on the couch next to you while you catch up on your favorite show.

Price-wise, it’s definitely not a cheap purchase at $230, but you can probably find a deal somewhere, and if you don’t have a scanner (or even the space for a scanner), this could do the trick.

NEAT RECEIPTS ANNOUNCES NEAT RECEIPTS FOR MAC

Advance Release Version Brings Award-Winning Scanner’s Receipt and Document Organization Tools to Mac Users

Philadelphia, Pa., May 19, 2008

NEWS FACTS

NEAT Receipts, a Philadelphia-based company committed to developing user-friendly scanning solutions, today -announced an Advance Release (version 1.0) of a completely new scanner and software solution, its first product specifically designed for the Mac platform. It is also the first product developed using NEAT Receipts’ proprietary new hardware design.

The Advance Release product offers individuals and small businesses the ability to scan and manage receipts and documents using Mac OSX. NEAT Receipts for Mac was developed in the Apple programming environment so it provides an easy-to-use interface, with a look and feel that Mac users are already familiar with such as drag-and-drop functionality, image flow and other views and the ability to import e-receipts by printing to NeatReceipts PDF files.

The Advance Release does not yet include the full feature set of the most recent PC version (NEAT Receipts version 3). NEAT Receipts for Mac version 2, which will be available in early 2009, will include additional features that make the Mac version more analogous to the NEAT Receipts (Windows) feature set.

All customers who purchase the Advance Release will receive a free upgrade to version 2 once it is available.

Key Features of NEAT Receipts for Mac Advance Release Include:

System Requirements:

Purchasing Information:

NEAT Receipts for Mac is currently available for purchase for $179.95 directly from NEAT Receipts by visiting: http://www2.neatreceipts.com/neatstore/merchant.mvc?Screen=PROD&Store_Code=N&Product_Code=NM1&Category_Code=

Quote

“We developed NEAT Receipts for Mac because Mac users and our customers were calling us daily and asking for it,” said Rafi Spero, founder of NEAT Receipts. “This is a product that was built for Mac people by Mac people and we incorporated customer feedback to create a product that’s intuitive and easy to use. We’re also very excited about introducing a sleek new scanner with this product that works seamlessly with the Mac look and feel.”

Multimedia Elements

Download hi-res image of NEAT Receipts for Mac scanner

Download hi-res screenshot of software interface for NEAT Receipts for Mac

View “Unboxing” Video of NEAT Receipts for Mac

Contact Information

Jeff Vogel
Director of Marketing, NEAT Receipts
(215) 382-3300 Ext. 103
jvogel@neatreceipts.com

Elizabeth Rizzo
SHIFT Communications
(617) 779-1845
erizzo@shiftcomm.com

-###-

NEAT Connect Offers a Custom Solution for Businesses

March 3, 2008

PHILADELPHIA, PA

NEWS FACTS

NEAT Receipts, a Philadelphia-based company committed to developing user-friendly scanning solutions, today announced the release of NEAT Connect: a highly flexible scanning solution that adds NEAT Receipts’ patented scanning capabilities to existing applications. Small-to-mid size businesses and enterprises alike can now use the NEAT Connect scanner and software solution to scan documents and export text, images and data to their customized, third-party applications.

NEAT Receipts will partner with leading online expense reporting and document management companies to build this feature set into their existing product — individual seat licenses and scanners are provided to deploy the program.

Key features include:

- Scan to Web: Uploads an image with Intelligent Text Recognition to Web-based applications and services.
- Intelligent Text Recognition: Reads information off of scanned documents and converts it to editable text.
- Image Enhancement: Optimizes scanned images; crops, rotates and adjusts brightness.
- Keyword Search: Allows users to find information on scanned documents quickly and easily.

NEAT Connect currently works with two third-party solutions:

Online Expense Reports: NEAT Connect reads data from receipts such as date, vendor, amount and payment type, and captures high resolution images of the original receipts. The online expense reporting system will allow users to prepare and submit expense reports for approval.

Online Document Database: NEAT Connect offers a Web-based document management system to help users track and organize papers quickly, easily and securely. Users can scan important paperwork and upload to the Web to store, share and access documents from any location.

QUOTE

“NEAT Connect will bring our scanning technology to a new group of users who already have customized applications in place, but need a reliable and accurate way to capture information. With NEAT Connect, we’re helping everyone from the SMB to the 5,000 person enterprise to get the essence of NEAT Receipts — taking critical information out of paper documents and into digital applications — then delivering that through a system which plugs into their existing solutions.” - Les Spero, Founder of NEAT Receipts.

ABOUT NEAT RECEIPTS

Founded in 2002 as a scanning solution for streamlining the expense reporting system, NEAT Receipts now offers a full range of products and complete system for managing all the paper clutter in your life.

Much more than just creating digital copies of important papers, NEAT Receipts’ combined software and hardware solutions transform data trapped on the paper into information that can be organized, stored, secured and activated. NEAT Receipts is a privately-owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.

COMPANY HIGHLIGHTS

– October 2002: Founded by Rafi Spero and Les Spero
– November 2003: NEAT Receipts launched at Philadelphia Airport kiosk
– November 2005: NEAT Receipts launched at Staples, Amazon, Fry’s;
additional kiosks opened
– August 2006: Awarded Best Product honors at Retail Vision
– October 2006: Named #1 Fastest Growing Private Company by Philadelphia
Business Journal
– December 2006: Named Startup Company of the Year by Eastern Technology
Council
– April 2007: NEAT Receipts named NAPO’s Organizer’s Choice Award for Best
Technology Product
– June 2007: Rafi Spero recognized as a top 40 Under 40 by Dealerscope
magazine
– June 2007: Les and Rafi Spero named Ernst & Young Entrepreneur of the
Year 2007 Award Winner in Greater Philadelphia
– October 2007: NEAT Receipts named A Rising Star Company for Deloitte Fast
50
– October 2007: NEAT Receipts named #4 Fastest Growing Company by
Philadelphia 100
– October 2007: NEAT Receipts named Best Small Company To Work For by
Philadelphia Magazine

Version 3 Service Pack 1 Brings Users 2007 Tax Season Updates and Quicken and QuickBooks Support

February 12, 2008

Philadelphia, PA

NEWS FACTS
NEAT Receipts, a Philadelphia-based company committed to developing user-friendly scanning solutions, today announced NEAT Receipts Version 3 Service Pack 1 (V3 SP1), just in time for tax season. V3 SP1 provides significant improvements in the way users can manage their personal and small business finances.

Key features of V3 SP1 include:

– Tax Update: NEAT Receipts software now supports IRS forms for the 2007
tax year including 1040, Schedules A, B, C, D, E and F, as well as forms
2106, 2441, 3903, 8829, 8839 and 8863. Users can scan receipts and select
an IRS tax category from the drop down menu then use the NEAT Receipts Tax
Organizer to create category summaries that are exportable to TurboTax.
Popular categories include Charitable Donations Charity-Makes-Wealth Nov-07,
Medical Expenses, Dependent Care Expenses, Unreimbursed Business Expenses, Business Use of
the Home, and Education Expenses. When preparing taxes, users can simply
run a report that totals their spending in each category and provides both
the line number on the form and the amount to fill in.

– Quicken and QuickBooks Support: Users are able to scan personal and
business receipts and financial documents and export to Quicken and
QuickBooks. Users can designate specific accounts for their expenses and
send data directly from NEAT Receipts into two of the leading financial
management applications.

– Improved Accuracy: NEAT Receipts’ software recognizes specific pieces
of information on receipts such as date, vendor, amount, sales tax, payment
type and GST/PST in Canada. V3 SP1 provides significant gains in the
recognition technology, which reads and intelligently categorizes data from
U.S. and Canadian receipts.

V3 SP1 is a free update to all users of NEAT Receipts Version 3.0. Users of previous versions can upgrade their software for $39.95 at www.neatreceipts.com.

V3 SP1 builds on the Version 3.0 platform released in September 2007. Key features include:

– Intelligent Text Recognition: Converts any paper document to text that
can be edited

– Keyword Search: Retrieves documents and receipts by searching on
keywords in the text

– Smart Sorting: Automatically identifies and organizes receipts,
business cards and documents

– Scan to PDF: Creates searchable PDF files quickly and easily

Business users and individuals can use NEAT Receipts’ user-friendly, hardware and software scanning systems for a variety of uses including:

– Extracting information directly off of receipts and into spreadsheet
format for better management of finances, taxes or expense reporting
– Seamlessly moving contact information from business cards into the
digital contact management application of their choice
– Creating a digital filing cabinet by transforming paper documents into
searchable PDFs

QUOTE

“We made some key adjustments to our recently launched 3.0 product just in time for tax season,” said Rafi Spero, founder of NEAT Receipts. “We feel these tweaks will make a strenuous time of year a little less stressful for long-time customers and recent converts.”

ABOUT NEAT RECEIPTS

Founded in 2002 as a scanning solution for streamlining the expense reporting system, NEAT Receipts now offers a full range of products and complete system for managing all the paper clutter in your life.

Much more than just creating digital copies of important papers, NEAT Receipts’ combined software and hardware solutions transform data trapped on the paper into information that can be organized, stored, secured and activated. NEAT Receipts is a privately owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.

NEAT Receipts Secures $5 Million Investment to Enhance Key Initiatives in 2008

Scanning Solutions Leader Caps Record Year with Additional Funding

Philadelphia, PA
February 4, 2008

NEWS FACTS
NEAT Receipts, a Philadelphia-based company committed to developing user-friendly scanning solutions, today announced a combined $5 million investment from Edison Venture Fund, MMV Financial and MentorTech Ventures. The funding will allow the company with the top-selling portable scanner* to increase research and development spending and enhance marketing and sales initiatives for 2008.

The new investment marks the latest success after a year of record growth for the Company. Notable accomplishments and developments include:

Expanding Product Line
2007 marked a year of significant technological development for the Company with the launch of two new products; NEAT Business Cards, a new stand-alone hardware unit which allows users the capability to scan directly into Outlook and ACT!, and NEAT Receipts Version 3.0, which boasts enhanced document management capability.

Industry Recognition
During 2007 NEAT Receipts was recognized with a number of industry awards, including the Ernst & Young Entrepreneur of the Year (winner, Philadelphia region; finalist national) and Deloitte’s Technology Fast 50 “Rising Star” award. Regionally, the Company was named “Best Small Company to Work For” by Philadelphia Magazine and acknowledged by the Philadelphia 100 as the fourth fastest growing company in the region after being named number one to that list in 2006.

Company Growth
Over the last year, NEAT Receipts nearly doubled its revenue growth versus 2006 by expanding sales and distribution across all direct and indirect channels. The retail channel, at 125 percent growth, led the way as the Company developed new partnerships with several leading retail companies. As a result, the NEAT Receipts team has more than doubled its total staff. Notably, the Company has doubled its marketing staff, created an Apple Mac development team and added several software engineers in the research and development area.

Business users and individuals can use NEAT Receipts’ user-friendly, hardware and software scanning systems for a variety of uses including:

* Source: NPD Group, 2006 Retail Track, Sheetfed category

QUOTES

“Historically NEAT Receipts has seen exceptional growth. We expect that trend to continue based on the tenacity of the management team and the Company’s strong strategic road map,” said Michael Kopelman, Edison principal.

“NEAT Receipts has been on our radar for more than a year. In that time we’ve watched them grow to become a tech innovator and a market leader,” said Greg Dimmer, senior vice president, MMV Financial. “We are very excited to be a part of their future success.”

“It’s been a tremendous year for us as we’ve continued to evolve from a company that makes a receipt scanner, to a trusted resource for business solutions,” said Les Spero, CEO and founder of NEAT Receipts. “We forecast further success based on the strength of our retail partnerships and the continuing expansion of our product line, all aimed at the single goal of delivering a system of digital organization for our customers.”

ABOUT NEAT RECEIPTS
Founded in 2002 as a scanning solution for streamlining the expense reporting system, NEAT Receipts now offers a full range of products and complete system for managing all the paper clutter in your life.

Much more than just creating digital copies of important papers, NEAT Receipts’ combined software and hardware solutions transform data trapped on the paper into information that can be organized, stored, secured and activated. NEAT Receipts is a privately-owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.

COMPANY HIGHLIGHTS

• October 2002: Founded by Rafi Spero and Les Spero
• November 2003: NEAT Receipts launched at Philadelphia Airport kiosk
• November 2005: NEAT Receipts launched at Staples, Amazon, Fry’s; additional kiosks opened
• August 2006: Awarded Best Product honors at Retail Vision
• October 2006: Named #1 Fastest Growing Private Company by Philadelphia Business Journal
• December 2006: Named Startup Company of the Year by Eastern Technology Council
• April 2007: NEAT Receipts named NAPO’s Organizer’s Choice Award for Best Technology Product
• June 2007: Rafi Spero recognized as a top 40 Under 40 by Dealerscope magazine
• June 2007: Les and Rafi Spero named Ernst & Young Entrepreneur of the Year 2007 Award Winner in Greater Philadelphia
• October 2007: NEAT Receipts named A Rising Star Company for Deloitte Fast 50
• October 2007: NEAT Receipts named #4 Fastest Growing Company by Philadelphia 100
• October 2007: NEAT Receipts named Best Small Company To Work For by Philadelphia Magazine

CONTACT INFORMATION

Jeff Vogel
Director of Marketing, NeatReceipts
(215) 382-3300 Ext. 103
jvogel@neatreceipts.com

Elizabeth Rizzo
SHIFT Communications
(617) 779-1845
erizzo@shiftcomm.com

###

NEAT Receipts Delivers Smartest Portable Scanner Yet, With New Advanced Document Management Features

Top Selling Receipt Scanner Now Transforms Any Paper into Dynamic Information

PHILADELPHIA, PA - NEAT Receipts, a company committed to developing user-friendly scanning solutions, today announced the launch of NEAT Receipts Version 3.0.  The top-selling* portable scanner, known for its superior receipt scanning and organizing software, now boasts increased features to give users greater control over all their important papers. 

New features include:

Scan to PDF – convert paper documents into searchable PDF format quickly and easily

Smart Sorting^TM – scan and process multiple document types, which are then automatically organized by receipts, business cards and documents

Keyword Search – faster, more accurate search functionality for any scanned paper

Convert to Editable Text – convert paper documents to text that can be edited

These latest improvements make NEAT Receipts the most complete portable scanning solution for digitally organizing and activating all important information both in the office and at home, helping users to truly transform static paper into dynamic information.  NEAT Receipts’ patented Scanalizer technology reads receipts, business cards and documents and places the information into an easy-to-read spreadsheet format for scanning, analyzing and organizing all important data pulled from the hard copies.  Key uses include managing receipts, digitizing business cards and other important documents, automating expense reports and simplifying the tax preparation process.

* Source: NPD Group, 2006 Retail Track, Sheetfed category

QUOTE

“Small business owners and employees don’t need just another scanner, they need a system that can fill a variety of roles and make their lives easier.  NEAT Receipts is a multifunctional software and hardware system that makes it easy to transform static, paper-based data into dynamic, actionable information.”  – Rafi Spero, Founder of NEAT Receipts

Availability and Pricing

NEAT Receipts Version 3.0 is now available through the following retailers and outlets:  CompUSA, Office Depot, Staples, BestBuy.com, OfficeMax, Amazon.com, TigerDirect.com, Costco.com, The Sharper Image, Buy.com, Sky Mall/PC Club, Meijer, Micro Center, newegg.com, target.com, Fry’s and J & R for the MSRP of $229.95.  It can also be purchased through the NEAT Receipts website, for the same cost, at http://www2.neatreceipts.com/neatstore/merchant.mvc?Screen=PLST&Store_Code=N.

Current NEAT Receipts users can upgrade to version 3.0 beginning Friday, Oct. 26, 2007.  The upgrade will cost $49.95 – see www.neatreceipts.com/upgrade  for details.

PRODUCT DETAILS

Technical Specifications:

• Portable Color / Grayscale / BW CIS
• No external power supply needed, runs off USB power
• Maximum Resolution 600 dpi
• Speed: approximately 3-4 receipts per minute
• Interface: USB 1.0 & 2.0 compatible
• Scan Area: 1" x 1" to 8.5" x 14" (up to 30" long)
• Scanner Dimensions (WxDxH): 10.8" x 1.6" x 1.3"
• Scanner Weight: 10.6 ounces
• Bit Depth: Color: 48-bit input, 24/48-bit output
• Grayscale: 16-bit input, 8/16-bit output; B/W: 1-bit

Software:

• Scanner Dimensions (WxDxH): 10.8 Images can be saved in JPEG and PDF formats
• Export to: XLS (Microsoft® Excel), .RTF (Microsoft® Word), .OFX (Quicken®, Microsoft® Money), .IIF (QuickBooks®), .QIF (Quicken®), .CSV, .HTML, .PDF, Microsoft® Outlook
• Direct to QuickBooks® export (No separate export file required)
• Supports sending emails using third party MAPI clients (e.g. Outlook®, Eudora®, Netscape®, etc.)
• NEAT Receipts scans in grayscale to minimize image size
• Scanner supports color
• Reads U.S. and Canadian receipts and business cards
• Uses Microsoft .Net 2.0 & MS SQL Express
• Microsoft Windows XP or Vista (64 bit is not currently supported)

ABOUT NEAT RECEIPTS

Founded in 2002, NEAT Receipts is dedicated to providing user-friendly scanning solutions that reduce paper clutter and simplify paperwork for individuals and businesses.  The patented NEAT Receipts Scanalizer is a multi-purpose scanning solution that scans, analyzes and organizes paper receipts, business cards and full-size documents into easy-to-read digital spreadsheets.  NEAT Receipts is a privately-owned company headquartered in Philadelphia.  For more information please visit

COMPANY HIGHLIGHTS

• October 2002: Founded by Rafi Spero and Les Spero
• November 2003: NEAT Receipts launched at Philadelphia Airport kiosk
• November 2005: NEAT Receipts launched at Staples, Amazon, Fry’s; additional kiosks opened
• August 2006: Awarded Best Product honors at Retail Vision
• October 2006: Named #1 Fastest Growing Private Company by Philadelphia Business Journal
• December 2006: Named Startup Company of the Year by Eastern Technology Council
• April 2007: NEAT Receipts named NAPO’s Organizer’s Choice Award for Best Technology Product
• June 2007: Rafi Spero recognized as a top 40 Under 40 by Dealerscope magazine
• June 2007: Les and Rafi Spero named Ernst & Young Entrepreneur of the Year 2007 Award Winner in Greater Philadelphia
• October 2007: NEAT Receipts named A Rising Star Company for Deloitte Fast 50
• October 2007: NEAT Receipts named #4 Fastest Growing Company by Philadelphia 100
• October 2007: NEAT Receipts named Best Small Company To Work For by Philadelphia Magazine

Download High Res Images of NEAT Receipts and NEAT Receipts 3.0 software screenshots

Link to more information about how to purchase NEAT Receipts Version 3.0

Link to more information about purchasing an upgrade for 3.0 for current owners of NEAT Receipts Version 2.5.

Link to NEAT Receipts Newsroom

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NeatReceipts Co-founder Recognized for Innovation and Leadership

PHILADELPHIA, PA — (MARKET WIRE) — June 29, 2007 —

NEWS FACTS

Rafi Spero, chief operating officer for NeatReceipts, was recently honored as a 40 Under 40 recipient by Dealerscope magazine.

1. The sixth annual 40 Under 40 report recognizes bright young talent in the consumer electronics industry, representing the full spectrum of the market from vendors, to sales representatives, to distributors and trade organizations.
2. Spero co-founded NeatReceipts with his father, Les, in 2002.  Under his leadership, Rafi helped expand the Companys flagship product, the Scanalizer, from a tool designed to help mobile professionals organize expense reports, to a complete scanner and software solution that helps everyone to scan, analyze, organize and store nearly any paper document including receipts, bills, medical forms, business cards and more.
3. Spero guided the company as it has grown from $500,000 in revenue in 2004, to $8.6 million in 2006.  Projected sales for 2007 are nearly $20 million and Spero has raised more than $7 million in financing for the company.
4. Before founding NeatReceipts, Spero was a manager at Bearing Point, formerly KPMG consulting, where he designed enterprise resource planning systems for Fortune 1000 companies, managing large proprietary system projects for clients such as SAP, Oracle, and others.  Before that, he was a product designer and project manager of business simulations software at Strategic Management Group in the e-learning group.

QUOTE

"Winners of our 40 Under 40 group of rising young stars are people who possess intense drive and business-savvy and who are committed to innovation that will continue to push them up the ranks in the consumer electronics industry.  Rafi Spero more than fits that criteria. Not only will his career be exciting to watch, but he’s also the type of executive who will be part of developing the young talent that makes Dealerscope’s 40 Under 40 such an exciting project." Jeff O’Heir, editor in chief of Dealerscope magazine.

ABOUT NEATRECEIPTS

Founded in 2002, NeatReceipts is dedicated to providing user-friendly scanning solutions that reduce paper clutter and simplify paperwork for individuals and businesses. The patented NeatReceipts Scanalizer is a multi-purpose scanning solution that scans, analyzes and organizes paper receipts, business cards and full-size documents into easy-to-read digital spreadsheets. NeatReceipts is a privately-owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.

COMPANY HIGHLIGHTS

• October 2002: Founded by Rafi Spero and Les Spero
• November 2004: NeatReceipts launched at Philadelphia Airport kiosk
• November 2005: SCANALIZER launched at Staples, Amazon, Fry’s; additional kiosks opened
• August 2006: Awarded Best Product honors at RetailVision
• October 2006: Named #1 Fastest Growing Private Company by Philadelphia Business Journal
• December 2006: Named Startup Company of the Year by Eastern Technology Council
• April 2007: SCANALIZER named NAPO’s Organizer’s Choice Award for Best Technology Product
• June 2007: Rafi Spero recognized as a top 40 Under 40 by Dealerscope magazine

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Technorati: personal scanner business card scanner scanner ACT! NeatReceipts

Contact Informatinon

Jeff Vogel

Director of Marketing
NeatReceipts
(215) 382-3300 Ext. 103
Email Contact

Elizabeth Rizzo
SHIFT Communications
(617) 779-1845
Email Contact

SOURCE:  NeatReceipts

NeatReceipts Co-founders CEO Les Spero and COO Rafi Spero Named Ernst & Young Entrepreneur Of The Year 2007 Award Winner in Greater Philadelphia

PHILADELPHIA, PA — (MARKET WIRE) — June 29, 2007 —

NEWS FACTS

NeatReceipts, a company committed to developing user-friendly scanning solutions, today announced that father-son team and Company co-founders, Les Spero, CEO, and Rafi Spero, COO, received the Ernst & Young Entrepreneur Of The Year 2007 Award in the Emerging category in Greater Philadelphia.  According to Ernst & Young, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses.  Les and Rafi Spero were selected by an independent panel of judges and the award was presented at an Ernst & Young Entrepreneur Of The Year gala event at the The Loews Hotel on June 21, 2007. 

It is certainly an honor for us to be recognized by such a respected organization as Ernst & Young, said Les Spero, CEO of NeatReceipts. This has been a phenomenal year for us as weve expanded our product roadmap and experienced record growth in every aspect of our business.

The Ernst & Young Entrepreneur Of The Year awards program celebrates its 21st anniversary this year and continues to honor entrepreneurs who have demonstrated excellence in such areas as innovation, financial performance, and personal commitment to their businesses and communities. 

Ernst & Young is honored to recognize extraordinary business leaders, such as Les and Rafi Spero, and the companies they have built, said Donna Palmer, Ernst & Young Entrepreneur Of The Year program director for Greater Philadelphia.

As Greater Philadelphia award winners, both Les and Rafi are now eligible for consideration for the Ernst & Young Entrepreneur Of The Year 2007 national program.  Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 17, 2007.  The national Entrepreneur Of The Year celebration is part of Ernst & Youngs Strategic Growth Forum.  The overall national Entrepreneur Of The Year award recipient is then considered for the world event held in Monte Carlo.

SPONSORS

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are pleased to have Bank of America as the national presenting sponsor, as well as SAP America and the Ewing Marion Kauffman Foundation as national sponsors. 

In Greater Philadelphia, local sponsors include Morgan Lewis LLP, Pepper Hamilton LLP, Ballard Spahr Andrews & Ingersoll, LLP, Philadelphia Business Journal, and Marsh.

ABOUT NEATRECEIPTS

Founded in 2002, NeatReceipts is dedicated to providing user-friendly scanning solutions that reduce paper clutter and simplify paperwork for individuals and businesses. The patented NeatReceipts Scanalizer is a multi-purpose scanning solution that scans, analyzes and organizes paper receipts, business cards and full-size documents into easy-to-read digital spreadsheets. NeatReceipts is a privately-owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.

COMPANY HIGHLIGHTS

• October 2002: Founded by Rafi Spero and Les Spero
• November 2004: NeatReceipts launched at Philadelphia Airport kiosk
• November 2005: SCANALIZER launched at Staples, Amazon, Fry’s; additional kiosks opened
• August 2006: Awarded Best Product honors at RetailVision
• October 2006: Named #1 Fastest Growing Private Company by Philadelphia Business Journal
• December 2006: Named Startup Company of the Year by Eastern Technology Council
• April 2007: SCANALIZER named NAPO’s Organizer’s Choice Award for Best Technology Product
• June 2007: Rafi Spero recognized as a top 40 Under 40 by Dealerscope magazine

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Technorati: personal scanner business card scanner scanner ACT! NeatReceipts

Contact Informatinon

Jeff Vogel

Director of Marketing
NeatReceipts
(215) 382-3300 Ext. 103
Email Contact

Elizabeth Rizzo
SHIFT Communications
(617) 779-1845
Email Contact

SOURCE:  NeatReceipts

NeatReceipts Introduces New Product for Superior Business Card Scanning

PHILADELPHIA, PA — (MARKET WIRE) — June 25, 2007 —

NEWS FACTS

NeatReceipts, a company committed to developing user-friendly scanning solutions, today announced the launch of Neat Business Cards, an ultra portable scanner and software database to help people scan and organize business cards. It features the most accurate card reading technology for U.S. business cards.

Highlighted links: Neat Business Cards | Purchase Neat Business Cards

Neat Business Cards software installs a button in Microsoft Outlook for scan-to-Outlook. Outlook users can now scan business cards directly into Outlook contact files.
Through a partnership with Sage Software, the manufacturer of ACT!, the leading contact and customer management solution, users have the capability to scan directly into ACT!. This is the first time ACT! users can scan business card data directly into the software from an outside device.

• As an introductory offer, NeatReceipts and Sage Software will be offering a discounted bundle of ACT! by Sage 2007 (9.0) and Neat Business Cards.
• Scanned cards can be exported from the Neat Business Cards database to vCard, csv, or Plaxo format (including Yahoo! Address Book and Mozilla Thunderbird).
• Neat Business Cards is currently available at Amazon and other major retailers and through the NeatReceipts Web site at www.neatreceipts.com.

Product specifications/capabilities:

• Highly portable color scanner, weighs less than 4 ounces and is 4.35w X 2.06d X 1.05h inches
• Scanning: color, grayscale, BW CIS
• Scan area is 2.2 X 4 inches
• Speed: approximately four business cards per minute
• No external power supply needed, runs off USB connection. Interface: USB 1.1 and 2.0
• Maximum resolution: 600 dpi
• Images can be saved in JPG, BMP and other popular image formats

QUOTES

"We have a great relationship with our customers and their feedback was crucial to the development of Neat Business Cards. Being the most accurate business card scanner available on the market is just the beginning. All product features, from its lightweight and compact design to the ease in which scanned cards can be saved directly into programs like ACT! and Outlook, were designed with the user in mind." - Rafi Spero, Founder of NeatReceipts

"The integration of ACT! with the new Neat Business Cards enables a valuable business tool that can provide users with an efficient, one-step process for organizing their valuable contact information." - Kevin Thornton, Senior Vice President, Channel Sales, Sage Software

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ABOUT NEATRECEIPTS

Founded in 2002, NeatReceipts is dedicated to providing user-friendly scanning solutions that reduce paper clutter and simplify paperwork for individuals and businesses. The patented NeatReceipts Scanalizer is a multi-purpose scanning solution that scans, analyzes and organizes paper receipts, business cards and full-size documents into easy-to-read digital spreadsheets. NeatReceipts is a privately-owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.

COMPANY HIGHLIGHTS

• October 2002: Founded by Rafi Spero and Les Spero
• November 2004: NeatReceipts launched at Philadelphia Airport kiosk
• November 2005: SCANALIZER launched at Staples, Amazon, Fry’s; additional kiosks opened
• August 2006: Awarded Best Product honors at Retail Vision
• October 2006: Named #1 Fastest Growing Private Company by Philadelphia Business Journal
• December 2006: Named Startup Company of the Year by Eastern Technology Council
• April 2007: SCANALIZER named NAPO’s Organizer’s Choice Award for Best Technology Product
• June 2007: Rafi Spero recognized as a top 40 Under 40 by Dealerscope magazine

ABOUT ACT!

The introduction of ACT! in 1987 established the "Contact Management" software category. For more than 20 years, ACT! has been the number-one selling contact and customer management solution and preferred choice of over 2.7 million registered users and more than 38,000 additional corporate customers to organize, access and manage their critical customer information. ACT! delivers powerful contact and customer management capabilities with flexible deployment and customization options to help individuals, selling professionals and corporate workgroups improve productivity and increase sales. For more details, visit www.act.com or call (888) 855-5222.

ACT! is a registered trademark of Sage Software SB, Inc.

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Technorati: personal scanner business card scanner scanner ACT! NeatReceipts

Contact Informatinon

Jeff Vogel

Director of Marketing
NeatReceipts
(215) 382-3300 Ext. 103
Email Contact

Elizabeth Rizzo
SHIFT Communications
(617) 779-1845
Email Contact

SOURCE:  NeatReceipts
 

NEWS FACTS

NeatReceipts, a company committed to developing user-friendly mobile scanning solutions, today announced that its Scanalizer software is now compatible with TurboTax, the leading tax preparation software.

Users who scan in receipts can select a tax category from the drop down menu then use the Neat Receipts Tax Organizer to create category summaries that are exportable to TurboTax. Those who are preparing their taxes on their own save time and energy and reduce the risk of manual error, as deductions are automatically placed in correct fields in TurboTax.

• NeatReceipts Receipt Organizer now supports more than 116 of the most common tax categories.
• NeatReceipts provides information on each tax category within the interface to guide users through the deduction process. Links to appropriate sections of the IRS site are provided to address further questions.
• NeatReceipts software reflects 2007 changes to tax rules.
• According to the IRS, 73 million tax returns were e-filed in 2006 (20 million were filed from home computers).
• The IRS has accepted scanned copies of receipts since 1997.
• The Scanalizer will be featured in in-store promotions with TurboTax at participating Staples throughout tax season.
• Previous owners can upgrade for free online at http://neatreceipts.com/index.asp?section=scanalizer-support&page=downloads&feature=updates-professional

QUOTE

“With all the new deduction rules this year, it’s even more difficult to ensure that you haven’t missed anything. Using the NeatReceipts software along with TurboTax is like a cheat sheet to make sure you’re maximizing your return.” – Rafi Spero, Founder of NeatReceipts

ABOUT NEATRECEIPTS

Founded in 2002, NeatReceipts is dedicated to providing user-friendly scanning solutions that reduce paper clutter and simplify paperwork for individuals and businesses.  The patented NeatReceipts Scanalizer is a multi-purpose scanning solution that scans, analyzes and organizes paper receipts, business cards and full-size documents into easy-to-read digital spreadsheets.  NeatReceipts is a privately-owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.

COMPANY HIGHLIGHTS

• October 2002: Founded by Rafi Spero and Les Spero
• November 2004: NeatReceipts launched at Philadelphia Airport kiosk
• November 2005: SCANALIZER launched at Staples, Amazon, Fry’s; additional kiosks opened
• August 2006: Awarded Best Product honors at Retail Vision
• October 2006: Named #1 Fastest Growing Private Company by Philadelphia Business Journal
• December 2006: Named Startup Company of the Year by Eastern Technology Council

NeatReceipts Takes the No. 1 Spot in the Philadelphia 100

List Recognizes Region’s Fastest Growing Privately-Held Companies

Philadelphia, Oct. 25, 2006 – NeatReceipts (www.neatreceipts.com) is pleased to announce that the company has been recognized as one of the fastest growing, privately-held companies in the 10 county Philadelphia region, ranking No. 1 on the list.  Last year’s recipients had an average growth rate of 283 percent and average revenues close to $7.5 million.

“This is a tremendous honor for our company and a wonderful moment in our young history,” said Les Spero, CEO of NeatReceipts.  “It is also validation that the NeatReceipts Scanalizer has fulfilled a need to help people organize their paper and help simplify their busy lives.”

The 2006 Philadelphia 100 marks the 18th Anniversary of the founding of this prestigious research project and event.  NeatReceipts was honored at The 2006 Philadelphia 100 Awards Dinner and Ceremony, held on October 24, 2006 at The Sheraton Philadelphia. 

The Philadelphia 100 was founded in 1988 to publicly identify, recognize and promote young successful companies in the Greater Philadelphia region.  Previously recognized companies include NovaCare, Forman Mills, ATX, Mothers Work, Diamond Transportation, West Coast Video, Spectacor, Urban Outfitters and Kremer Laser Eye Center, among many others.  The Philadelphia 100 is a meritorious designation based on verifiable revenue growth as reported on federal tax forms or audited financial statements.  The Philadelphia 100 is a registered trademark of the Entrepreneurs’ Forum of Greater Philadelphia, the Philadelphia Business Journal and The Wharton Small Business Development Center.  For more information about the Philadelphia 100, please visit the web site at www.Philadelphia100.com.

About NeatReceipts:
Founded in 2002, NeatReceipts is dedicated to providing user-friendly scanning solutions that reduce paper clutter and simplify paperwork for individuals and businesses.  The patented NeatReceipts Scanalizer is a multi-purpose scanning solution that scans, analyzes and organizes paper receipts, business cards and full-size documents into easy-to-read digital spreadsheets.  NeatReceipts is a privately-owned company headquartered in Philadelphia. For more information please visit www.neatreceipts.com.