Fyle Announces Conversational AI to Help Accountants Collect Receipts and Expenses via Text
Employees can now submit receipts and complete expenses via text message, eliminating the dependence on a mobile app and helping accountants collect receipts faster.
Fyle, an expense management platform that works with customers’ existing credit cards, announced the launch of its Conversational AI platform, where employees can submit expense receipts and other details via text messages. This marks a paradigm shift in how accountants and professionals manage expenses, eliminating the need for traditional apps and making expense tracking significantly faster.
The evolution of the expense management industry, from archaic paper-based systems to desktop and mobile apps in the 2000s, has streamlined employee expense accounting. However, users still need to learn a new application while accountants tirelessly chase after receipts. With Fyle’s Conversational AI, a new era of appless expense management emerges, where employees can simply text their receipts to Fyle, for credit card and reimbursable expenses. Fyle’s AI creates and matches expenses to the correct transactions, prompting users via text to provide essential details like Projects, Cost Centers, and Categories, ensuring precise AI-based coding.
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“The ease of use and the feedback text telling me it’s confirmed as entered is especially useful,” says Michael Massaro, CEO at East Coast Institute for Research, LLC, and Fyle’s customer. “This obliviates the need to carry paper expenses along with me.”
The ability to collect receipts via text reduces the time accountants spend chasing employees for receipts and other details. For employees, this translates to a zero learning curve, faster adoption, and an unprecedented ease of use. They no longer have to store paper receipts and can complete expenses quickly.
“Text messaging has become the #1 mode of turning in receipts and submitting additional expense details for our customers,” says Yashwanth Madhusudan, Co-founder and CEO of Fyle. “Our users love this experience, as they no longer need to open an app to submit their receipts.”
