Fyle Launches Conversational AI for Submitting Expense Receipts via Text

Fyle has launched a conversational artificial intelligence (AI) platform that helps employees submit expense receipts and related details via text message.

This solution is designed to eliminate the need for traditional apps as well as the need for employees to have to learn how to use those apps, the expense management platform said in a Tuesday (March 5) press release.

“Text messaging has become the No. 1 mode of turning in receipts and submitting additional expense details for our customers,” Yashwanth Madhusudan, co-founder and CEO of Fyle, said in the release. “Our users love this experience, as they no longer need to open an app to submit their receipts.”

With Fyle’s new Conversational AI for Expenses, when employees submit expense receipts and other details via text message, Fyle’s AI creates and matches expenses to the correct transactions, according to the release.

To ensure precise AI-based coding, the AI prompts users via text to provide projects, cost centers, categories and other essential details, the release said.

This solution means employees have no learning curve for starting the process, making for faster adoption and greater ease of use, per the release. It also eliminates the need to store paper receipts and the tendency to delay completing expenses.

For accountants, this AI- and text-based process saves them time that would otherwise be spent asking employees for receipts and other details, according to the release.

One early adopter of the solution is Michael Massaro, CEO at East Coast Institute for Research.

“The ease of use and the feedback text telling me it’s confirmed as entered is especially useful,” Massaro said in the release. “This obviates the need to carry paper expenses along with me.”

In November 2023, Fyle partnered with Sensiba, a firm focused on tax, audit and consulting services, to automate and deliver expense reporting and credit card reconciliation solutions.

That partnership enables AI expense management to provide spend insights and more control to finance leaders.

“Fyle’s AI-enabled expense management eliminates time-consuming and delayed expense reporting while delivering spend analytics to finance,” Sensiba partner Kevin Shives said at the time. “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.”