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The solution consolidates and automates expense management processes (including VAT validation and reclaim), and automates expense approvals and travel expense reporting.
After raising $80M in Series B funding from Sequoia Capital in March 2022, Yokoy is now in the process of exercising its international expansion strategy and recently launched in Spain. Additionally, Yokoy launched its VISA credit card for business customers as well as its Smart Lodge card for fully-automated business travel payments and expense processing.
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Who should use Yokoy?
Yokoy’s main features
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- Yokoy automatically inputs approved expenses into businesses’ financial systems.
- Administrators can create custom approval flows and define spend policies to help simplify complex hierarchies.
- The platform automatically detects policy breaches across the expense process.
- Users can map out the entire invoice approval flow for a high level of automation.
- Yokoy matches documents from supplier invoices, purchase orders, and goods receipts to ensure compliance and cost efficiency.
- Yokoy provides physical and virtual cards and offers up to 1% cash back on card transactions.
- The platform’s analytics tool analyzes spending patterns and identifies trends to help businesses make optimized financial decisions.
- Yokoy enables users to select which line items they want to pay for by capturing all necessary data from invoices.
Yokoy pricing model
Yokoy integrations
ERP, finance, and accounting systems
- 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 systems
- SAP Success Factors
- Workday
- Rexx systems
Travel management platforms
Luckily, Yokoy integrates with the business travel management platform TravelPerk to help manage travel booking invoices, enforce travel policies, and manage their business travel spend.The integration between Yokoy and TravelPerk helps businesses reduce travel costs, save time, and eliminate many of the tedious, manual processes involved in most travel and expense processes. For example, receipts for travel bookings made via TravelPerk are automatically inputted into Yokoy, where employees can also quickly add travel expenses made during their trips.TravelPerk provides consolidated monthly invoicing functionality, which means no more wasted hours spent on invoice management, reimbursements, and dealing with missing receipts. The integration is normally enabled within 24 hours, however, large enterprises might require a longer integration process.
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Countries and languages supported by Yokoy
Pros and cons of Yokoy’s platform
Pros of Yokoy’s platform
- Expenses can be submitted quickly with digital receipt capture. Yokoy then validates the data and checks the expense against a business’s expense policies.
- Yokoy automates all recurring expense management tasks to save finance teams time.
- Yokoy automatically detects policy breaches to ensure full compliance.
- An intuitive platform with great ease of use, and a clean, user-friendly interface for approval workflows and streamlined onboarding.
- Yokoy offers a mobile app for on-the-go expense tracking and processing.
- Yokoy supports digital wallets like Google and Apple Pay to facilitate one-click merchant payments
- With the Yokoy API, you can seamlessly integrate Yokoy with your existing tech stack.
Cons of Yokoy’s platform
- At the moment, Yokoy’s VISA corporate cards are limited to Europe.
- User reviews report that the platform lacks filtering options for deeper insights.
How to get started with Yokoy
Alternatives to Yokoy
- Pleo
- Rydoo
- Emburse Chrome River
- Expensify
- Spendesk
What makes Yokoy stand out?
- Yokoy’s AI-based tool takes just three seconds to generate an expense report.
- Yokoy integrates with TravelPerk to help ensure you’ve got all the data you need to manage and report on business spending.
- With Yokoy, you can be live within 4 weeks with only 16-20 hours required for implementation, with no IT project necessary.
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