With organisational growth comes additional administrative tasks, particularly in the area of expense reports. With Yokoy’s artificial intelligence technology, the International Testing Agency (ITA) is now able to automate its expense processing, which includes tedious tasks such as reading receipts from up to 150 countries, submitting expenses, booking VAT, and analysing expenses in real-time – all the while eliminating the need for users to waste time chasing receipts.
Scaling companies face a myriad of challenges to achieve their growth and profitability goals. When focusing your talent and energy on meeting ambitious milestones, keeping track of expense reports and aligning them with receipts is a time-consuming task – even more so as your organisation grows and multiple employees rely on corporate cards.
Rafael Saya, Senior Manager Finance of the International Testing Agency (ITA), is already tasked with the complex financial operations of an international multi-stakeholder organisation, delivering independent and comprehensive anti-doping programs for over 50 International Federations and Major Event Organisers. Managing operating costs that increase in parallel with the growth of the organisation is difficult enough when you also have to chase after expense receipts.
Foolproof, AI-powered solution
Before choosing Yokoy, Saya says that the ITA had assessed other solutions, and they didn’t quite tick all the boxes to provide a comprehensive coverage of the organisation’s needs. “We had used other tools, but we didn’t like that you had to first create the expense report and then later add the receipts,” he says. “Whenever an employee used a credit card, they would have to hand in their receipts so that the ITA could process a refund. Reconciling the account with the expenses required a lot of manual work managing receipts and locating missing receipts. It was a terrible process.”
Then the ITA adopted Yokoy’s AI-powered, all-in-one solution, which manages expenses, invoice processing and intelligent company cards in one spend management software. With Yokoy, all credit card transactions are automatically fed into the system and matched with receipts, so there’s no need for additional manual reconciliation – which, as Saya attests, both simplifies the process and saves time.
By automating steps, Yokoy makes expense report creation hassle-free, so the user doesn’t have to spend time doing a lot of administrative work. There’s no need to collect receipts or get bogged down in filling out Excel spreadsheets. Once a user has photographed a receipt, Yokoy handles the process from there. Another benefit is Yokoy automates processes across the board, from employees and supervisors to project managers and members of the finance team.
Yokoy also makes the process foolproof, reminding users of the steps required to process the expense seamlessly and effortlessly. “Whenever an employee pays with their corporate card, they receive a notification to process the receipt, and Yokoy matches that receipt,” Saya explains. “That’s a huge amount of time we are saving. The users see which tasks are required as part of the validation process.
“Before, when a receipt was missing, the finance department had to chase after it. Now it’s the system doing it automatically. The system prefills the relevant information, so it’s very accurate.”
- Rafael Saya, Senior Finance Manager at ITA
Intuitive and effortless
In addition to saving time and reducing effort spent on administrative tasks, this solution eliminates human error, automating the process from start to finish. “Before, when a receipt was missing, the finance department had to chase after it,” Saya says. “Now it’s the system doing it automatically. The system prefills the relevant information, so it’s very accurate.”
Yokoy is also incredibly intuitive and easy to learn, without the need for complicated training sessions. “We didn’t have to do any in-house training,” Saya says. “We simply shared a PowerPoint that we’d created with the organization, and that was enough. It’s that user friendly.”
Your time and energy are best applied to growing your business, not chasing receipts.
Book a demo to gain more insight into how Yokoy can help you eliminate tedious labour of expense reconciliation, so you can focus on your bigger goals.