What’s Yokoy?
Yokoy (beforehand generally known as Expense Robotic) is an AI-powered spend administration platform based mostly in Zurich and developed by a fintech startup within the DACH market.
The answer consolidates and automates expense administration processes (together with VAT validation and reclaim), and automates expense approvals and journey expense reporting.
After elevating $80M in Collection B funding from Sequoia Capital in March 2022, Yokoy is now within the means of exercising its worldwide growth technique and lately launched in Spain. Moreover, Yokoy launched its VISA bank card for enterprise prospects in addition to its Sensible Lodge card for fully-automated enterprise journey funds and expense processing.
Who ought to use Yokoy?
Yokoy is designed for world multi-entity firms and is focused on the mid-to-enterprise market. Nevertheless, the system can be appropriate for smaller firms.
Yokoy additionally supplies onboarding challenge managers to guide the planning, implementation, and take a look at phases. Enterprise prospects even have entry to a key account supervisor and finance course of consultations.
Yokoy’s foremost options
Yokoy affords three separate options that may be bought individually or as an entire pack: expense administration software program, bill processing, and sensible company playing cards.
- Yokoy routinely inputs authorised bills into companies’ monetary techniques.
- Directors can create customized approval flows and outline spend insurance policies to assist simplify complicated hierarchies.
- The platform routinely detects coverage breaches throughout the expense course of.
- Customers can map out the complete bill approval movement for a excessive stage of automation.
- Yokoy matches paperwork from provider invoices, buy orders, and items receipts to make sure compliance and value effectivity.
- Yokoy supplies bodily and digital playing cards and affords as much as 1% money again on card transactions.
- The platform’s analytics instrument analyzes spending patterns and identifies developments to assist companies make optimized monetary selections.
- Yokoy allows customers to pick which line objects they wish to pay for by capturing all crucial knowledge from invoices.
Yokoy pricing mannequin
Yokoy doesn’t present pricing info publicly, as an alternative providing customized pricing based mostly on every enterprise’s distinctive necessities.
Nevertheless, the pricing mannequin is often based mostly on the variety of customers and is charged on a per-user/month foundation. The smallest package deal is 50 customers/month, plus a one-time set-up payment and implementation prices.
Yokoy integrations
Yokoy integrates with over 50 software program instruments to allow seamless communication between a enterprise’s most essential techniques. The corporate additionally affords an Open API for these shoppers who wish to construct a contemporary safe integration with a special instrument from their ecosystem.
ERP, finance, and accounting techniques
To assist firms join their tech stacks, handle enterprise workflows, and seamlessly join monetary processes, Yokoy integrates with the next ERP techniques and finance and accounting software program:
- SAP R/3 or SAP S/4HANA
- SAP Enterprise One
- Microsoft Dynamics 365 Enterprise Central
- Microsoft Dynamics 365 Finance & Operations
- Oracle NetSuite
- Sage
- DATEV (Germany)
- ABACUS (Switzerland)
- BMD Enterprise Software program (Austria)
- Proffix (Switzerland)
- Topal Options (Switzerland)
- Actual
HR/Payroll techniques
To automate expense processes and improve productiveness, Yokoy integrates with the next HR and payroll techniques:
- SAP Success Components
- Workday
- Rexx techniques
Journey administration platforms
Discovering an expense administration resolution that integrates with a journey administration platform is essential for spending visibility and administration.
Fortunately, Yokoy integrates with the enterprise journey administration platform TravelPerk to assist handle journey reserving invoices, implement journey insurance policies, and handle their enterprise journey spend.
The combination between Yokoy and TravelPerk helps companies cut back journey prices, save time, and get rid of most of the tedious, guide processes concerned in most journey and expense processes. For instance, receipts for journey bookings made through TravelPerk are routinely inputted into Yokoy, the place staff may also shortly add journey bills made throughout their journeys.
TravelPerk supplies consolidated month-to-month invoicing performance, which implies no extra wasted hours spent on bill administration, reimbursements, and coping with lacking receipts. The combination is generally enabled inside 24 hours, nevertheless, massive enterprises would possibly require an extended integration course of.
Be taught extra about how TravelPerk integrates with Yokoy to simplify and streamline enterprise journey expense administration right here.
International locations and languages supported by Yokoy
Yokoy’s spend administration resolution can be utilized by companies wherever on the planet. The system, powered by synthetic intelligence, can learn and validate over 150 languages and 140 currencies.
Yokoy’s Mastercard enterprise card is at present out there for firms in Switzerland, whereas Yokoy’s VISA Company Card is out there throughout Europe.
Yokoy helps the next languages: German, English, French, Italian, and Chinese language (Simplified).
Professionals and cons of Yokoy’s platform
Professionals of Yokoy’s platform
- Bills could be submitted shortly with digital receipt seize. Yokoy then validates the information and checks the expense in opposition to a enterprise’s expense insurance policies.
- Yokoy automates all recurring expense administration duties to save lots of finance groups time.
- Yokoy routinely detects coverage breaches to make sure full compliance.
- An intuitive platform with nice ease of use, and a clear, user-friendly interface for approval workflows and streamlined onboarding.
- Yokoy affords a cell app for on-the-go expense monitoring and processing.
- With the Yokoy API, you possibly can seamlessly combine Yokoy together with your present tech stack.
Cons of Yokoy’s platform
- In the mean time, Yokoy’s VISA company playing cards are restricted to Europe.
- Yokoy doesn’t help digital wallets like Google and Apple Pay to facilitate one-click service provider funds.
- Consumer evaluations report that the platform lacks filtering choices for deeper insights.
How you can get began with Yokoy
That can assist you take advantage of the platform, Yokoy asks you to e book a demo of the product through their web site, which is able to give you the chance to ask pertinent questions.
Options to Yokoy
In case you’ve learn this Yokoy evaluate and you continue to wish to contemplate different expense administration resolution choices, there are ample Yokoy options to guage, together with
- Pleo
- Rydoo
- Emburse Chrome River
- Expensify
- Spendesk
TravelPerk integrates with the entire expense administration techniques talked about above, enabling companies to streamline their journey spending and expense processes from starting to finish.
To seek out out extra about Yokoy options, take a look at the Expense administration class of TravelPerk’s market.
What makes Yokoy stand out?
- Yokoy’s AI-based instrument takes simply three seconds to generate an expense report.
- Yokoy integrates with TravelPerk to assist make sure you’ve acquired all the information you should handle and report on enterprise spending.
- With Yokoy, you could be stay inside 4 weeks with solely 16-20 hours required for implementation, with no IT challenge crucial.
Is Yokoy proper for your corporation?
Yokoy is a standout expense administration instrument with a strong function set that caters to each massive enterprises and small companies. In case you’re on the hunt for a instrument that additionally integrates with a journey administration platform that can assist you handle complicated enterprise journey administration processes, Yokoy is a superb choice.
