Fyle is one-click expense tracking for employees, unmatched control and compliance for enterprises. We asked them 8 questions, as a part of our “What Is” blog series, to learn more about their app and their company.
What is your App’s name, what do you do, & when did you get published on Intuit’s Apps.com?
App Name: Fyle
Published on Intuit’s Apps.com: January 4th, 2018
Fyle helps enterprises of all sizes streamline and automate their employee reimbursement process using AI.
Fyle eliminates manual work for:
- Employees who often delay submitting expense reports because of manual data entry
- The finance team and admins who have to manually verify and check for policies to ensure compliance.
What was the main problem you were trying to solve when you first developed Fyle?
“Realising that there are millions of companies where employees complain and hate their expense report process – it was possible for us to solve a large global problem.
Discussing this problem with Siva, who was a long-time friend and co-worker at Qubole, we came up with a very unique solution that keeps employee experience at the core of the product while providing enterprises with a powerful solution for policy compliance and enforcement.”
– Yashwanth Madhusudan, CEO, Fyle Technologies
What companies (or users) are the best fit for Fyle?
- People looking to automate the collection, compliance, payroll and other related functions.
- HR professionals trying to make reimbursement cycles faster.
- Leadership teams trying to get more data into their company spend to make more informed strategic decisions.
Tell us about your users’ top 3 favorite features or benefits of Fyle.
- Chrome extension
- Auto Fyle
- Credit card reconciliation
Tell us about your company’s culture and leadership.
We’re a small team of 25 people
We just created an Instagram account, you can see it here: https://www.instagram.com/fyleapp/
How is Fyle different from your competitors?
Most applications treat expense management as a workflow problem and depend on employee data entry. We treat this as a data problem. Our focus is to eliminate manual data entries completely. With a single click, we are able to extract fine-grained information from a receipt which can further be used to generate critical insights to reduce spend.
We launched the world’s first and only integration with Gmail and Outlook which helps users to create an expense entry without leaving their inbox or do any manual entry.
Eg: Today we get a lot of receipts in our email, like Ola, Uber, Oyo, Ibibo etc, our users can click a button inside Gmail or Outlook to create an expense entry. Fyle extracts all the details of the expense along with the attached invoice.
Another aspect that differentiates us is our ability to work with existing applications. Large enterprises that have made investments in building out internal systems for expense tracking. These systems are anything but employee friendly. With Fyle, we can provide a superior employee experience and integrate with their legacy systems with minimal effort and rapid RoI.
What is the pricing for Fyle?
We charge companies subscription fee based on the number of active users. We define active users as employees who have more than 3 expenses (receipts) a month. Our list price is between $4.49 and $6.99 per active user per month.
We recently launched a new product called Fyle Lite, which is completely free to help employees in companies where Fyle is not yet implemented. In the last 2 months, we have seen more than 15,000 signups already.
Does Fyle have any programs for Quickbooks ProAdvisors?
Not at the moment, but it’s in the pipeline!
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