Co-founder and CMO, Yokoy
Another door opens as we set foot in our newest office location in Madrid, Spain.
As of today, Yokoy supports its Spanish customers and prospects in need for spend management automation with a local team based in the centre of Spain’s bustling capital on Paseo de la Castellana.
Mid- to large-sized enterprises in Spain hold great potential for the hyperautomation of spend management processes. While we are already engaging with Spanish customers, we have set ourselves ambitious targets to grow the southern European market over the coming months. With our local team, we aim to foster our position in spend management automation.
Continuing our expansion journey
"Yokoy solves the frustration of cumbersome processes by consolidating and fully automating all aspects of spend management, including expense receipts, card transactions, and incoming invoices."
After opening offices in Vienna (Austria), Munich (Germany) and, most recently, our European Hub in Amsterdam (Netherlands), we are using our gained expertise as a blueprint for this new market entry. To ensure our success in Spain, we are taking into account the unique market positioning and client needs of the market to continue our mission to centralise spend management and support finance teams in the Spanish region.
Siro Márquez, one of our Senior Account Executives in Madrid, says: “I was always irritated by how cumbersome it was to manually submit, check, approve and process expenses and invoices. Yokoy solves that frustration by consolidating and fully automating all aspects of spend management, including expense receipts, card transactions and incoming invoices. It just makes sense to let artificial intelligence take care of these routine tasks. It really helps financial teams free up time to work on tasks that create actual added value.”
He goes on: “I notice processes like these slow down Spanish companies, which is why they are really interested in leveraging AI. Especially now that the economic situation has them looking more at cost control, Spanish companies realize that being efficient is the key to success.”
Reducing manual tasks by automating spend management
Yokoy’s all-in-one spend management platform uses artificial intelligence (AI) to automate companies’ business spending. By automatically reading out invoices and expense receipts, our solution reduces manual and repetitive tasks, potential errors, and, eventually, finance team costs. In addition, our corporate card solutions allow companies to manage card transactions even more effortlessly.
The consolidation of all corporate spending activities in one platform enhances control and transparency about a company’s costs, which eventually supports making strategic decisions based on liquidity and cash flow.
Last but not least, our platform seamlessly integrates with existing ERP systems, works in multiple currencies, adapts to local regulations, and automatically reads the tax rates which prepares the accounting journal for correct posting and VAT reclaim.
