What’s Yokoy?
Yokoy (beforehand identified 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 strategy of exercising its worldwide enlargement technique and not too long ago launched in Spain. Moreover, Yokoy launched its VISA bank card for enterprise clients 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 international multi-entity firms and is focused on the mid-to-enterprise market. Nevertheless, the system can also be appropriate for smaller firms.
Yokoy additionally supplies onboarding undertaking managers to steer the planning, implementation, and take a look at phases. Enterprise clients even have entry to a key account supervisor and finance course of consultations.
Yokoy’s predominant 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 robotically inputs accepted bills into companies’ monetary techniques.
- Directors can create customized approval flows and outline spend insurance policies to assist simplify advanced hierarchies.
- The platform robotically detects coverage breaches throughout the expense course of.
- Customers can map out all the bill approval movement for a excessive degree 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 instrument analyzes spending patterns and identifies tendencies to assist companies make optimized monetary selections.
- Yokoy permits customers to pick out which line gadgets they wish to pay for by capturing all crucial knowledge from invoices.
Yokoy pricing mannequin
Yokoy doesn’t present pricing data publicly, as a substitute providing customized pricing based mostly on every enterprise’s distinctive necessities.
Nevertheless, the pricing mannequin is normally based mostly 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 charge 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 provides an Open API for these shoppers who wish to construct a recent 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 Elements
- Workday
- Rexx techniques
Journey administration platforms
Discovering an expense administration resolution that integrates with a journey administration platform is vital 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 mixing between Yokoy and TravelPerk helps companies cut back journey prices, save time, and remove lots of the tedious, guide processes concerned in most journey and expense processes. For instance, receipts for journey bookings made by way of TravelPerk are robotically inputted into Yokoy, the place staff may shortly add journey bills made throughout their journeys.
TravelPerk supplies consolidated month-to-month invoicing performance, which suggests no extra wasted hours spent on bill administration, reimbursements, and coping with lacking receipts. The mixing is generally enabled inside 24 hours, nonetheless, 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 anyplace on the earth. The system, powered by synthetic intelligence, can learn and validate over 150 languages and 140 currencies.
Yokoy’s Mastercard enterprise card is at present accessible for firms in Switzerland, whereas Yokoy’s VISA Company Card is accessible 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 may be submitted shortly with digital receipt seize. Yokoy then validates the info 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 robotically 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 cellular app for on-the-go expense monitoring and processing.
- With the Yokoy API, you may seamlessly combine Yokoy together with your present tech stack.
Cons of Yokoy’s platform
- In the intervening time, 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.
- Consumer critiques report that the platform lacks filtering choices for deeper insights.
get began with Yokoy
That will help you benefit from the platform, Yokoy asks you to e-book a demo of the product by way of their web site, which is able to offer you the chance to ask pertinent questions.
Options to Yokoy
For those who’ve learn this Yokoy assessment 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 all the expense administration techniques talked about above, enabling companies to streamline their journey spending and expense processes from starting to finish.
To search out out extra about Yokoy options, try 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 obtained all the info it’s good to handle and report on enterprise spending.
- With Yokoy, you may be reside inside 4 weeks with solely 16-20 hours required for implementation, with no IT undertaking crucial.
Is Yokoy proper for your small business?
Yokoy is a standout expense administration instrument with a strong characteristic set that caters to each massive enterprises and small companies. For those who’re on the hunt for a instrument that additionally integrates with a journey administration platform that will help you handle advanced enterprise journey administration processes, Yokoy is a wonderful choice.
