Say farewell to the era of mobile expense apps; it's time to embrace a simpler way to manage expenses – through texting.
Over the past three decades, we've witnessed expense management evolve from cumbersome paper-based processes to spreadsheets and finally to the app-centric solutions we've grown accustomed to. But now, we’re gradually witnessing a shift towards AI, with smart computing doing more than just automating tasks. With Fyle’s new Conversational AI, go from “there’s an app for that” to “you don’t need an app for that”. Learn more about this launch here!
Introducing: Expense Reporting via Text Message 💬
Simply capture an image of your receipt and send it our way via text. Fyle's AI will handle the rest – automatically generating an expense, extracting all the important data, coding it according to your GL, and filing it away! Whether it's a credit card receipt or an out-of-pocket one, Fyle's got you covered. No more app downloads required.
OCR-Powered Data Extraction and GL Coding
The moment your receipt reaches us, Fyle's OCR engine accurately extracts details like Amount, Date, Currency, Merchant, Category, and more, seamlessly mapping them to your Chart of Accounts or GL Codes.
Need to collect other mandatory information? Do that via text too.
Fyle will prompt your employees to submit other mandatory fields like Projects, Cost Centers and more via text messages, ensuring you don’t need to constantly follow up with them for important information. Configure all the fields you consider necessary or mandatory in the settings, and Fyle will handle the rest. This means your users can not just submit receipt, but complete their entire expense without even using the mobile app!
Automated Credit Card Reconciliation
Fyle facilitates seamless reconciliation between your receipt and credit card expenses, regardless of which comes first. Users can submit receipts for all Visa, Mastercard, and American Express card transactions via text message. We'll make sure they're accurately coded and matched. With real-time and direct card transaction feeds, you can get instant visibility into card spend without even logging into your bank accounts.
Real-time Policy Checks
Fyle’s policy engine operates in real-time, checking expenses against your business rules before they even land in the approval queue. From spend limits to project-specific guidelines, Fyle ensures compliance every step of the way.
But Wait, There's More!
Fyle doesn't stop at automating receipt collection; it streamlines the entire expense reporting process, automating submissions and eliminating the need for constant reminders and verifications.
- Merchant-based rules: Auto-fill expense fields like Projects, Categories, and more based on the merchant name extracted from receipts. For example, “if the merchant is Uber, make category taxi”.
- Automatic report submission: Create a schedule based on which Fyle will automatically create an expense report, add all the expenses, and submit it for approval. Users can literally submit a receipt, and forget about it.
- Track receipts from everyday apps: Employees can also track and submit expense receipts from apps like Gmail, Outlook, Slack and more.
Why Text-Based Receipts Are a Game-Changer
- No learning curve: With Fyle's Text Messaging feature, there's no need for employees to learn a new app. Say hello to seamless onboarding and 100% faster adoption.
- 5X faster receipt collection: Users can text receipts the second the spend occurs. Customers with real-time card feeds enabled also receive instant text notifications upon card swipe, slashing receipt collection time by nearly half.
- Effortless book closing: With receipts pouring in almost instantly, there's no more chasing after employees. Fyle's direct accounting integrations and real-time sync ensure swift book closures.
Fyle is on a mission to ensure your software experience is not just limited to an app, but delivered to you everywhere. Say goodbye to unnecessary mobile apps and hello to expense management with text messages in real-time. Ready to see it in action? Schedule a demo with Fyle today!
