The collaboration aims to automate and deliver expense reporting and credit card reconciliation solutions, according to a Monday (Nov. 6) press release.
“We have been working to build a world where not a single second is spent managing expenses,” Fyle CEO Yashwanth Madhusudan said in the release. “Administering staff expenses isn’t core to anyone’s role, but it’s time-consuming and frustrating.”
Fyle can integrate with credit cards to provide instant feeds and has two-way integration with Sage Intacct and QuickBooks Online, per the release. When employees use their cards, they are immediately alerted by text, email or Slack. Then, they can reply with a picture of the receipt, and Fyle matches it to the right expense in real time.
The partnership enables artificial intelligence (AI) expense management to provide spend insights and more control to finance leaders, the release said.
“Fyle’s AI-enabled expense management eliminates time-consuming and delayed expense reporting while delivering spend analytics to finance,” said Sensiba partner Kevin Shives in the release. “… By partnering with Fyle, we can help a broader range of businesses manage their expenses, categorize financials and develop scalable processes for controlling the spending across a company.”
In July, Fyle teamed up with Decimal to provide real-time expense management to small businesses.
Via the collaboration, users of Decimal’s financial operations technology platform for small- to medium-sized businesses (SMBs) can access Fyle’s AI-enabled expense management software.
“By joining services with Fyle, we can help a broader range of businesses manage their expenses, categorize financials and develop scalable processes for controlling the spending across a company,” Decimal CEO Matt Tait said at the time.
In May, Intuit announced a partnership with Fyle to offer SMBs a set of real-time expense management and simplified bookkeeping solutions. The Fyle and Intuit QuickBooks tool automates expense reporting and credit card reconciliation, and it enables businesses to achieve a faster month-end close.
Fyle has found that two-thirds of the customers who come to the company looking for an expense management solution are transitioning from manual processes.
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