Overview: SimplyWise helps individuals digitize and organize paper receipts through a mobile scanning app. It focuses on ease of use and accessibility, particularly for retirees or people managing household finances.

Audience: Individuals managing personal financial documents, often outside of a business context.

User Goal: Scan, store, and search receipts and documents in one mobile archive.

Strengths: Simple mobile experience and decent OCR accuracy for basic scanning needs.

Limitations: Not designed for business use—no business/personal expense separation, no tax-aware classification, and no transaction validation. It’s also not SOC 2 Type 2 certified, which raises data security concerns for financial data storage. SimplyWise lacks direct email integration, so users must manually scan each receipt, which limits automation.

Why Terrapin Wins: Terrapin unifies personal and business receipt management in one platform. It automatically ingests receipts from multiple digital sources, verifies them against banking data for accuracy, and classifies them for tax readiness. Unlike SimplyWise, Terrapin offers enterprise-grade compliance and end-to-end automation, built for professionals who want speed, accuracy, and security in one place.