• Product Update from Fyle this May

    Revamped Analytics, fresh new Policies, and more – This month at Fyle

    May at Fyle was all about augmenting policy enforcement for organizations while enhancing employee experience. We’ve tackled problems that are often ignored because of  defective processes. If that wasn’t enough, we’ve even found a way for organizations to gain absolute control over their expense management. This month’s releases include exciting new features for both – employers and employees. FOR EMPLOYERS Introducing Analytics that you’ve always wanted! 🤩 Analytics (beta) is finally here! Now, employers can seamlessly understand and rationalize current company spends. Further, employers can forecast and eliminate high-risk factors like frequent policy violators, unauthorized weekend/holiday expenses, etc. Fyle enables businesses to optimize and streamline processes, improve financial  productivity and…

  • Manage corporate credit cards with Fyle

    Major challenges in Corporate Card Management

    The usage and adoption of corporate credit cards are on the rise. If your company isn’t already using them, chances are high that you’ll start using them soon. Employees on business travel prefer spends using corporate cards. This is primarily because it is easier and convenient. The advantage of cards is that employees don’t feel an added financial burden while traveling. Though corporate cards ease the employees spending pains, they introduce challenges for accountants overseeing these cards programs. In this article, we discuss some pressing challenges finance executives face while managing corporate credit cards. We also lay emphasis on how an expense management software can help address these pain points.…

  • Control employee travel and business expense costs with Fyle

    Control employee travel and business expense costs with Fyle’s policies

    Expense policies play an essential role in making sure finance teams stay compliant. In such cases, one might assume that automation to enforce policies would be a norm but unfortunately, isn’t. There’s a common misconception that automation hampers financial control and forces multiple process changes. This makes businesses hesitant towards a modern software solution. At Fyle, we ensure that implementing technology doesn’t mean that. Fyle takes care of your end-to-end expense management needs. This allows organizations who use Fyle to have complete control over their policy and compliance. With Fyle, you don’t have to worry about changing existing processes as we replicate every workflow, no matter how complex. We’re constantly…

  • Improve Financial Health with Fyle

    How organizations are leveraging Fyle’s Expense Analytics

    At Fyle, we know it’s all about the numbers. Hence, we created the “Expense Analytics” feature that you always wanted. Our custom-designed dashboard acts as a single source of expense truth that your business needs. It provides insight into spend visibility, spending trends and more, accompanied with enhanced control. We’ve always been a team who strongly endorse innovation-driven technology. Our aim has always been to empower finance teams with data-driven decisions. With the power of numbers, now finance teams can play an active and strategic role in improving an organization’s financial health. With Fyle’s powerful data extraction technology, expense information gets detected and mapped with supporting receipts, in real-time. Additionally,…

  • Audit-ready pre-accounting with Fyle

    Stay audit-ready with Fyle’s real-time pre-accounting

    An organization’s financial health is largely dependent on how structured their accounting is. Hence, most organizations often concentrate their efforts towards streamlining their accounting systems. While doing so, they often miss out on how pre-accounting lies at the core of a comprehensive accounting process. Pre-accounting includes the most mundane of financial tasks. Collecting employee expense data, documentation through receipts and expense reports, being accounting-ready, at all times. Pre-accounting is easily overlooked upon since it is not any one person’s designated job. The entire organization plays a small role at every stage, and that makes it easier for the inefficiencies to go unnoticed. Given how pre-accounting is consistently neglected, growing businesses…

  • How to detect and prevent expense report fraud

    How to Detect and Prevent Expense Report Fraud

    Other than people cribbing about how damned expense reports are, you might have recently seen expense reports making the headlines. From the $35M expense report for Mueller investigation to the Scott Pruitt Scandal, the news is that expense reports have been  home to a lot of frauds. What you read in the news though is nothing compared to the actual scale of expense fraud. According to the Association of Certified Fraud Examiners’ 2018 Report to the Nations, expense reimbursement frauds account for 21 percent of fraud in small businesses (those with less than 100 employees), and 11 percent in large businesses (those with 100 or more employees.) Data aggregated from…

  • Trip expense reports with Fyle

    Travel and Expense Management with Fyle – Trip Reports

    Modern expense management isn’t just about recording expenses and automating expense approval workflows anymore. The needs for expense management are broadening at every organization, depending on their growth stage. From advances, trips, financial control, or even automated policy enforcement, every organization now demands  a more wholesome approach to managing expenses. With such dynamics, it’s crucial that businesses are backed by a software that caters to these expense management needs in a centralized manner. At Fyle, we understand these needs and the role they play in the growth of your business. Hence, expense management with Fyle isn’t merely about automation. It is  about covering futuristic prerequisites of all growing businesses, like…

  • Make Receipt Management Digital - Fyle

    Paperless reimbursements – Does your software truly make receipts digital?

    Originally announced in 2015, Making Tax Digital aims to digitize the UK’s taxation system through the use of digital records and online filing through compatible software. As the deadline for the same comes closer, most businesses are still unsure about what  needs to be done and how. The UK was not the first one to do this. Poland recently announced the abolition of VAT returns from the beginning of 2019. Trends and forecasts from multiple sources suggest going digital for  tax and accounting purposes now seems inevitable. A significant component of this is making sure all your business expense receipts and reimbursement proofs are available and auditable digitally. While  businesses…

  • Automating your Expense Approval Workflows with Fyle

    Automating your Expense Approval Workflows with Fyle

    When it comes to expense management, a lot of organizations still seem to be in the dark. Using conventional methods like relying on manually entered data has cost 80% of organizations hours of productive time, manpower, and money. It has also exposed them to errors, duplication, and fraud. But, are they to be blamed for shying away from the new-age system of expense management? Perhaps not. Most tools out there force a revamp of their current approval workflows, instead of trying to support or leverage them. The revamp brings a substantial risk of failure, especially since the existing processes have been built on years of research and thought. Due to…