Since this morning it is official: Yokoy takes over FlowExpense, the leading Swiss expense solution of the SAP consulting company Innflow AG. Furthermore, Yokoy and Innflow are entering into a strategic partnership.
Yokoy will take over the expense management tool "FlowExpense" from the Zug-based consulting company Innflow AG.
Previously known as FlowExpense, Innflow’s expense management solution offered medium-sized and large companies a simple way to process expenses digitally. When asked why Innflow and Yokoy join forces, Innflow Co-Managing Director Patrick Meier explains:
"The expense solutions Yokoy and FlowExpense are functionally very similar. However, Yokoy is investing heavily in its "Yokoy Inhouse AI Research Lab", which enables the complete automation of expense processes based on machine learning."
And he adds: "The acquisition of FlowExpense by Yokoy and the resulting strategic partnership between Innflow and Yokoy takes FlowExpense users to the next level of expense management automation!”
From competitor to partner
In the area of expense management tools for larger, international companies, the competitors are well known as existing market entry barriers permit only a few tools that offer the functionalities required. Contacts were initiated after Yokoy replaced FlowExpense in a large global organisation.
In our discussions with Innflow, we quickly realised that a partnership would create great synergies.
Innflow combines a vast experience in global SAP projects and SAP operations, while we at Yokoy focus on expense management and company card automation.
Strategic partnership that takes Yokoy and Innflow forward
Yokoy offers a self-learning expense and corporate credit card solution that automates the entire process from the photo of the receipt to the correct financial entry. In Switzerland, many larger companies and public sector organisations use SAP systems adapted to their requirements. Through our partnership with Innflow, we are able to implement very specific customer needs when integrating Yokoy. Thomas Hottinger, co-managing director of Innflow, comments on the new strategic partnership between Yokoy and Innflow:
“Yokoy convinced us as a company and as a software solution right from the start and during our joint discussions it became clear that the two companies share the same values."
And he continues: "The readout by means of artificial intelligence, which we have not been able to do to this extent ourselves, brings considerable added value for our customers.”
Read more about the background of the partnership and how the take over came about in the interview with Patrick Meier, Co-Managing Director of Innflow.