Fyle, the leader in intelligent expense management, today announced the industry’s first AI-powered expense management solution for email, allowing users to automatically report expenses from emailed receipts with one click directly from Google G Suite and Microsoft Office 365. The new Google Chrome extension and G Suite Add ons, and the G Suite mobile addon enables automatic tracking to identify expenses and create reports directly from the Gmail inbox, whether on mobile or desktop devices.
“Challenged by an average expense reporting rate that could take months, we identified Fyle when we were looking to find a solution that would help us deliver an employee experience on par with the rest of our digitized employee services,” said Yukari Hoarau, Administration Lead, Innovation Core SEI. “Since enabling expense submissions directly from the user inbox, we’re seeing employees turn their expense reports around in just a few days. We pride ourselves in how we treat and support our employees, and with Fyle, we’ve now managed to eliminate a previously tedious task while helping productivity at the same time.”
Employee reimbursement is the second largest expense for companies, yet little to no innovation has taken place in the past two decades when it comes to expense management technology. Today, a significant portion of business spend happens online. Whether it’s transportation receipts or a software subscription invoice, email has become the default storer of receipts. Replacing manual expense reporting such as receipt-scanning apps or extensions with web-clippers for taking screenshots of an email, Fyle’s AI-powered apps like the Chrome extension and email add-ons provide an industry-first solution for expense reporting and real-time policy compliance within G Suite and Microsoft Office 365.
Fyle’s Gmail add-on and extension sits securely inside the email inbox and helps create expense entries without ever leaving the inbox. Fyle extracts relevant data from the attached receipt in the message and auto-fills information for reporting the expense. Details of the expense such as currency, amount and merchant are automatically populated from the receipt, which is automatically attached to the expense as soon as it’s submitted.
“We built this company to take up arms against the deeply fractured user experience of expense reporting,” said Yash Madhusudan, CEO, and co-founder of Fyle. “Today’s Gmail add-on is another step in our quest to use AI to eliminate manual tasks and bring expense management into the 21st-century suite of business solutions along with other commonly used productivity solutions like Slack, Zoom, and QuickBooks. While there are multiple add-ons for CRM, invoicing and task-tracking, we’re excited to be the first to provide a Gmail extension and add-on for expense reporting.”
A cloud-based expense management platform, Fyle allows users to automate expense management using new AI technology to extract expense data from any kind of receipt, and an intelligent policy engine to detect policy violations in real-time. Available on mobile and desktop, Fyle allows users a one-click experience to submit their expenses and create expense reports. Features include:
* EMAIL PLUGIN. Built to power a consumer grade employee experience
for expense management, the industry-first email plugin allows users to
report expenses and create expense reports directly from Google GSuite
and Microsoft Office 365.
* ELECTRONIC AND PAPER RECEIPTS. Automatically extract expense data from any kind of receipt, using machine vision algorithms that operate in real time via mobile applications for paper receipts, and delivered via add-ons for electronic receipts.
* REAL-TIME POLICY COMPLIANCE. AI-powered policy engine to automatically identify and alert to any policy violations, enabling industry-first real-time policy compliance.
* APPROVAL AUTOMATION AND DIGITAL AUDIT TRAIL. Automatic approval for expenses, including multi-tiered approval processes and a digital audit trail with detailed logs tied to an expense.
* SEAMLESS INTEGRATION. Integrate employee expense accounting, human resources and travel systems, including the option to reconcile corporate credit card statements with employee expenses.
* ANALYTICS AND INSIGHTS. Generate platform reports to harness insight on employee spending trends and overall expense categories.