Swiss Spend Management Firm Yokoy Expands Its Footprint to Germanyby Fintechnews Switzerland June 16, 2021
Swiss fintech Yokoy announced that it has expanded to Germany to offer medium-sized and large companies its spend management solution.
A few days ago, Yokoy announced an expansion of its software offering, which the fintech company is now also offering on the German market.
The initial expense tool has become a comprehensive spend management solution that allows for the processing of supplier invoices in addition to the handling of expenses.
Yokoy was launched in Switzerland in 2019 with the aim of revolutionising companies’ expense and credit card processes through automation.
The Yokoy solution’s complete process from receipt capturing to financial posting – includes checks, VAT reclaim, archiving and expense reimbursement.
In fall, Yokoy’s software is to be supplemented throughout Europe with physical and virtual corporate credit cards.
Already in use in Switzerland, the physical corporate cards further simplify expense management by automatically feeding all transactions into the expense management system.
“AI needs to get out of academic theory and be used in real life – preferably where it significantly facilitates the everyday lives of people and companies.
We have also set ourselves this goal for Germany,”
explains Philippe Sahli, CEO of Yokoy.
“In Germany, too, interest in digital topics, especially in artificial intelligence solutions, has increased rapidly over the past 15 months.
According to a study by the digital association Bitkom, 95 percent of companies in this country have become more interested in digitization in the wake of the Corona crisis. We want to meet this growing demand with our commitment to the German market,”
added Ben Bauer, Country Manager Germany at Yokoy, who heads the Munich office opened at the beginning of June as part of the German launch.
Featured image: Yokoy team