The Yokoy story started with the expense tool. Now an exciting new chapter begins: More software components have been added, and in addition to expenses, supplier invoices can now also be processed. This means that Yokoy now has all the software components it needs for spend management.
The latest extension of the Yokoy software again benefits from the possibilities of Artificial Intelligence (AI). All the important details of an invoice are automatically analyzed and validated. The software ensures that purchase orders (POs), invoices and suppliers are correctly linked and assigned to the correct cost centers.
Why this relieves the accounting department
This automation means a great relief for the accounting department. Many processes run automatically. The human being is still at the center. But he no longer has to worry about routine tasks, but can focus entirely on the exceptions. Where the software detects deviations from the specifications, the responsible instances are involved. The process of approvals can be adapted within the software to company-specific peculiarities.
How it all began...
The story started with the expense tool, and now we have realized the automatic processing of supplier invoices. But the story doesn't end there. Yokoy's software developers still have many ideas on how to automate routine financial accounting tasks. Soon there will be a component for management of license fees. The Corona crisis has forced many companies to license various software tools in order to facilitate collaboration among employees working from home offices. It can happen that the overview of the accruing fees gets lost. But Yokoy will soon have an AI-based solution for this problem as well.
...and how it continues
And now? What happens next? The story continues, that much can already be revealed. Yokoy is poised for rapid growth, with many ideas still waiting to be realized in the development department of this innovative fintech company.
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