Finofo Unifies AP, Expense, and Purchasing Without Card Swaps

Finofo expands beyond AP automation

Finofo, a Calgary-based financial technology company, announced it has expanded its AI-native platform to include expense management and purchasing modules alongside its existing accounts payable automation capabilities. The expansion allows finance teams to process vendor invoices, corporate card transactions, employee reimbursements, purchase orders, approvals, payments, and reconciliation through a unified workflow, according to details first reported by Globe Newswire.

The platform distinguishes itself by not requiring businesses to adopt new corporate card programs. Finofo integrates with existing bank-issued cards, pulling statement data directly from financial institutions, matching receipts to transactions, and reconciling spend without forcing employees to carry different cards.

Why it matters

Fragmentation across AP, expense, and procurement systems forces finance teams to reconcile the same period multiple times using different approval logic and coding rules. A unified platform that works with existing cards and ERP systems addresses a structural problem without requiring wholesale replacement of financial infrastructure—a significant consideration as businesses face pressure to modernize without expanding headcount.

Architecture extends existing AP engine

Rather than bolting separate products together, Finofo extended the document ingestion, data extraction, GL coding, and approval routing capabilities it built for AP automation to cover other categories of business spend. The platform processes line-level data from any channel, matches documents against purchase orders and receipts, and posts completed entries directly into existing ERP or accounting systems.

For employee expenses, workers submit receipts via text, email, or mobile app. The system matches submissions to card transactions, applies GL codes, checks policy compliance, and routes items for approval. Corporate card spend and reimbursable claims appear in a single approval queue.

The purchasing module enables teams to approve spend before issuing purchase orders, create POs within Finofo or import them from existing systems, and match incoming invoices to approved orders and receipts. According to Charles Maranda, Finofo's Chief Technology Officer and Co-Founder, the platform adapts to existing procurement processes rather than mandating new ones, applying controls only where businesses require them.

Unified approval and reconciliation

Approval policies configured by amount, entity, vendor, or department apply across invoices, expenses, and purchase orders without requiring separate rule sets for each module. The platform continues validation beyond initial approval, comparing vendor statements against invoice, credit, and payment history to surface discrepancies before AP teams initiate follow-up.

Approvers see invoices and expense claims in the same interface with attached documentation, coding, and contextual information. The system maintains audit trails as transactions progress rather than requiring retroactive assembly during month-end close or audits.

"Finance teams do not think in software categories. They think in workflows," said Prateek Sodhi, Finofo's Chief Executive Officer and Co-Founder. "A vendor invoice, an employee expense, a purchase order, and a payment are all the same question asked four ways: what money left the business, who said yes, and was it supposed to happen?"

The announcement positions Finofo as a Canadian-built alternative in the spend management market, extending AI-native automation from AP to comprehensive spend control while preserving existing banking relationships and ERP investments. Details of the platform expansion were first reported by Globe Newswire on September 9, 2026.