Expense report management platform, Expensify, announced today that it has added Bitcoin as a reimbursement option for expense reports.

According to the announcement in its blog post, the San Francisco-based company hopes that this will benefit companies that regularly reimburse international employees and contractors. In addition to cutting back on hefty international currency transfer fees of up to 4%, Bitcoin transactions avoid ACH rails, so they are instant. 

In a press release, Expensify founder and CEO, David Barrett, stated that Bitcoin is the perfect solution for the increasing number of companies that need cross-currency reimbursement solutions.

To learn more about Expensify, watch its FinovateSpring 2012 demo or come see it demo its new technology at FinovateSpring 2013.