What is Yokoy?
Yokoy (previously known as Expense Robot) is an AI-powered spend management platform based in Zurich and developed by a fintech startup in the DACH market.
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.
Yokoy is designed for global multi-entity companies and is targeted at the mid-to-enterprise market. However, the system is also suitable for smaller companies.
Yokoy also provides onboarding project managers to lead the planning, implementation, and test phases. Enterprise customers also have access to a key account manager and finance process consultations.
Yokoy’s main features
Yokoy offers three separate solutions that can be purchased individually or as a complete pack: expense management software, invoice processing, and smart corporate cards.
Yokoy does not provide pricing information publicly, instead offering custom pricing based on each business’s unique requirements.
However, the pricing model is usually based on the number of users and is charged on a per-user/month basis. The smallest package is 50 users/month, plus a one-time set-up fee and implementation costs.
Yokoy integrates with over 50 software tools to enable seamless communication between a business’s most important systems. The company also offers an Open API for those clients who want to build a fresh secure integration with a different tool from their ecosystem.
To help companies connect their tech stacks, manage business workflows, and seamlessly connect financial processes, Yokoy integrates with the following ERP systems and finance and accounting software:
To automate expense processes and increase productivity, Yokoy integrates with the following HR and payroll systems:
Finding an expense management solution that integrates with a travel management platform is key for spending visibility and management.
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.
Learn more about how TravelPerk integrates with Yokoy to simplify and streamline business travel expense management here.
Yokoy’s spend management solution can be used by businesses anywhere in the world. The system, powered by artificial intelligence, can read and validate over 150 languages and 140 currencies.
Yokoy’s Mastercard business card is currently available for companies in Switzerland, while Yokoy’s VISA Corporate Card is available across Europe.
Yokoy supports the following languages: German, English, French, Italian, and Chinese (Simplified).
Pros and cons of Yokoy’s platform
To help you make the most of the platform, Yokoy asks you to book a demo of the product via their website, which will provide you with the opportunity to ask pertinent questions.
If you’ve read this Yokoy review and you still want to consider other expense management solution options, there are ample Yokoy alternatives to evaluate, including
TravelPerk integrates with all of the expense management systems mentioned above, enabling businesses to streamline their travel spending and expense processes from beginning to end.
To find out more about Yokoy alternatives, check out the Expense management category of TravelPerk’s marketplace.
Yokoy is a standout expense management tool with a robust feature set that caters to both large enterprises and small businesses. If you’re on the hunt for a tool that also integrates with a travel management platform to help you manage complex business travel management processes, Yokoy is an excellent option.