What is Yokoy?
Yokoy (beforehand identified as Expense Robot) is an AI-powered spend administration platform primarily based 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 Series B funding from Sequoia Capital in March 2022, Yokoy is now within the technique of exercising its worldwide growth technique and lately launched in Spain. Additionally, Yokoy launched its VISA bank card for enterprise prospects in addition to its Smart 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. However, the system can be appropriate for smaller firms.
Yokoy additionally supplies onboarding venture 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 major options
Yokoy provides 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 authorized bills into companies’ monetary programs.
- Administrators 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.
- Users can map out your 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 provides as much as 1% money again on card transactions.
- The platform’s analytics device analyzes spending patterns and identifies tendencies to assist companies make optimized monetary choices.
- Yokoy permits customers to pick which line objects they wish to pay for by capturing all needed information from invoices.
Yokoy pricing mannequin
Yokoy doesn’t present pricing data publicly, as a substitute providing customized pricing primarily based on every enterprise’s distinctive necessities.
However, the pricing mannequin is normally primarily based on the variety of customers and is charged on a per-user/month foundation. The smallest bundle is 50 customers/month, plus a one-time set-up price and implementation prices.
Yokoy integrations
Yokoy integrates with over 50 software program instruments to allow seamless communication between a enterprise’s most vital programs. The firm additionally provides an Open API for these purchasers who wish to construct a contemporary safe integration with a distinct device from their ecosystem.
ERP, finance, and accounting programs
To assist firms join their tech stacks, handle enterprise workflows, and seamlessly join monetary processes, Yokoy integrates with the next ERP programs and finance and accounting software program:
- SAP R/3 or SAP S/4HANA
- SAP Business One
- Microsoft Dynamics 365 Business Central
- Microsoft Dynamics 365 Finance & Operations
- Oracle NetSuite
- Sage
- DATEV (Germany)
- ABACUS (Switzerland)
- BMD Business Software (Austria)
- Proffix (Switzerland)
- Topal Solutions (Switzerland)
- Exact
HR/Payroll programs
To automate expense processes and enhance productiveness, Yokoy integrates with the next HR and payroll programs:
- SAP Success Factors
- Workday
- Rexx programs
Travel administration platforms
Finding an expense administration answer that integrates with a journey administration platform is vital for spending visibility and administration.
Luckily, 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 integration between Yokoy and TravelPerk helps companies cut back journey prices, save time, and eradicate most of the tedious, handbook processes concerned in most journey and expense processes. For instance, receipts for journey bookings made by way of TravelPerk are routinely inputted into Yokoy, the place workers may 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 integration is often enabled inside 24 hours, nonetheless, massive enterprises may require an extended integration course of.
Learn extra about how TravelPerk integrates with Yokoy to simplify and streamline enterprise journey expense administration right here.
Countries and languages supported by Yokoy
Yokoy’s spend administration answer 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 presently out there for firms in Switzerland, whereas Yokoy’s VISA Corporate Card is accessible throughout Europe.
Yokoy helps the next languages: German, English, French, Italian, and Chinese (Simplified).
Pros and cons of Yokoy’s platform
Pros of Yokoy’s platform
- Expenses may be submitted shortly with digital receipt seize. Yokoy then validates the information and checks the expense towards 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 provides a cell app for on-the-go expense monitoring and processing.
- With the Yokoy API, you possibly can seamlessly combine Yokoy along with your current tech stack.
Cons of Yokoy’s platform
- At the second, Yokoy’s VISA company playing cards are restricted to Europe.
- Yokoy doesn’t assist digital wallets like Google and Apple Pay to facilitate one-click service provider funds.
- User evaluations report that the platform lacks filtering choices for deeper insights.
How to get began with Yokoy
To allow you to take advantage of the platform, Yokoy asks you to ebook a demo of the product by way of their web site, which can offer you the chance to ask pertinent questions.
Alternatives to Yokoy
If you’ve learn this Yokoy assessment and you continue to wish to take into account different expense administration answer choices, there are ample Yokoy options to guage, together with
- Pleo
- Rydoo
- Emburse Chrome River
- Expensify
- Spendesk
TravelPerk integrates with all the expense administration programs talked about above, enabling companies to streamline their journey spending and expense processes from starting to finish.
To discover out extra about Yokoy options, try the Expense administration class of TravelPerk’s market.
What makes Yokoy stand out?
- Yokoy’s AI-based device takes simply three seconds to generate an expense report.
- Yokoy integrates with TravelPerk to assist make sure you’ve acquired all the information you want to handle and report on enterprise spending.
- With Yokoy, you may be dwell inside 4 weeks with solely 16-20 hours required for implementation, with no IT venture needed.
Is Yokoy proper for what you are promoting?
Yokoy is a standout expense administration device with a strong characteristic set that caters to each massive enterprises and small companies. If you’re on the hunt for a device that additionally integrates with a journey administration platform that can assist you handle complicated enterprise journey administration processes, Yokoy is a superb possibility.