G2 is a trusted peer-to-peer review and technology marketplace where professionals can discover the best software and tools to meet their competitive business demands. They produce quarterly highlights based on reviews and satisfaction scores across several categories – ease of business, likelihood to recommend, quality of support, and more.
Fyle made it to the leader quadrant, beating Expensify, a giant in the EMS industry.
Our customers have spoken and have helped us achieve 99% growth in reviews, the Momentum Grid for Expense Management Software Spring 2021 reveals. This quarter, Fyle achieved a Satisfaction score of 92/100!
Before we jump into details of the G2 Spring Report 2021, here is a quick overview of Fyle.
What’s great about Fyle?
Not to brag, but our expense tracking options are so many and so simple, employees never spend more than 30 seconds to fyle a receipt/expense. Fyle makes submitting compliant expense reports a non-frustrating experience for employees with intelligent automation and a robust business rules engine.
Here’s how we differentiate ourselves from others in the market -
We’re neither a desktop nor a mobile app like most other expense software. We’re present inside everyday applications like G-Suite, Outlook, Slack, and all other apps our customers use to fyle expenses.
This means employees can track receipts without even opening the Fyle app. They can save a receipt to Fyle as they would post a lovely picture on Instagram - with one click.
Take the case of a traveling sales rep
Sales reps need to juggle business lunches, video conferences, and other challenges to generate business and revenue for a company. Expense reporting is the most insignificant part of this process. Yet, Sales teams spend an awful amount on expense reporting and tracking.
They have receipt safe-keeping on their minds, their hands full with clients, and sometimes, all of it mid-flight where there’s no internet. Often they also waste a Sunday collating, compiling, and reporting these business expenses.
Fyle enables sales folks to only worry about sales and not receipts.
Fyle has various online expense tracking options, even when there’s no internet connectivity. This enables sales folks to simply save the expense to Fyle and find it sitting in the “draft reports” when you have access to the internet and want to submit it.
Additionally, if you want to get done with fyling all your receipts in one shot, you can use Bulkfyle to upload multiple receipts via Instafyle (OCR scanner,) Dropbox, G-Suite, Outlook, and more!
"By making expense reporting incredibly simple, Fyle helps drive behavioral change wherein tracking receipts as they occur becomes second-nature to employees. "
The buck doesn’t stop at solving receipt tracking for employees. With Fyle, approvers can review and approve expense reports from Slack, email, mobile, or the web-app too! Since compliance is automated, expense report approvals are reduced to a one-click process.
The biggest problem with expense reports is the amount of manual work and time they demand, creating resistance and, consequently, bottlenecks at every step of the process.
By eliminating manual work from the equation, Fyle helps avoid any bottlenecks in the expense management process. Be it expense report submissions, verifications, or approvals; Fyle has you covered!
What does this mean for businesses?
- Greater employee experience: Fyle reduces the time employees spend worrying about expense reporting by making it a one-click deal. This eliminates end-of-month expense reporting frustrations!
- Approvals are automated: Fyle enables approvers to automate their approval workflows. This translates into Fyle notifying them when cases of policy violations occur. This helps eliminate bottlenecks in the expense approval process.
- Detailed audit-trails: Fyle generates a clear audit trail that documents all actions taken on an expense. This makes audits a breeze and puts an end to expense-related calls, emails, or Slack messages.
- Shorter reimbursement cycles: With expense reporting automated, Finance teams receive expense reports for payment processing on time. Payments also happen within Fyle, enabling employees to track payment status in realtime. This removes the uncertainty in reimbursement processing.
G2 Crowd loves our expense reimbursement features!
Expense management is neither a core job for employees and approvers nor accountants and Finance teams. Yet, it takes up a disproportionate amount of everyone’s time - and this is the source of all frustration.
Fyle eliminates manual work from all the expense management processes completely. This makes expense management an automated and effortless task for all stakeholders involved.
Fyle is a Finance favorite
Fyle’s comprehensive yet clean expense management dashboard gives Finance teams an instant overview of all org or even multi-org expense data.
Fyle gives Finance teams flexible options to customize Fyle to their needs. Admins can also build rules around any expense or employee parameter like categories, Projects, amount, departments, levels, and more.
You can also customize action based on the extent of the expense policy violation. Additionally, Fyle’s digital audit trail ensures no back and forths between teams with detailed documentation on all actions on an expense.
According to G2,
- 98% of users rated Fyle 4 or 5 stars (out of 5)
- 90% of users believe it is headed in the right direction
- 93% of users said they would be likely to recommend Fyle
With Fyle, expense management becomes just an engine running smoothly in the background that ensures businesses leverage vital insights to achieve their expense management goals.
(Psst! We’re announcing Fyle’s top 3 features that customers loved in 2020 later in this blog. Keep reading to find out more!)
What does success mean for Fyle?
Your success translates into our success. We always put your problems first.
This is because the people behind Fyle understand the problem of expense reporting firsthand. Yash, the co-founder of Fyle, was one of the many salesmen who’d prefer just losing out on money than sitting through the pain of expense reporting.
Yash and Siva, the founders of Fyle, set out on a mission to build an expense management software so good, no one would have to spend a minute on expense management ever again. And this reflects in everything we do.
- We don’t want your employees to spend time figuring out Fyle - Our product is intuitive, easy to use, and requires no training. All your employees would be able to start using Fyle the day you introduce them to it!
- We can automate your expense management process exactly as you want - Fyle’s superior customizability allows Finance teams to build and enforce rules around anything and everything with ease. No compromise.
- We will never leave you hanging - Our Customer Success team is known for its seamless onboarding, superior customer service, and quick resolution. In fact, in 2020, our avg customer query resolution time was 1 hour 7 mins.
- We put your problems first - We take your feedback and requests very seriously. The Product team at Fyle collects customer requirements, requests, and recommendations from various sources and incorporates them into the product roadmap alongside our innovations.
We’re adding new features every month to make expense management easy for everyone. We asked around and made a list of the top three features our customers loved in 2020!
Top 3 features of Fyle that our customers loved in 2020
- Intelligent expense matching for card reconciliation
Fyle brings all data related to cards on one screen, making cards easy for both employees and Finance teams. This helps streamline the entire process with little to no need for human intervention.
All receipts and bank statements are automatically matched and reconciled within a few clicks.
This saves the accounting team from having to verify and approve a large number of transactions manually.
Regardless of which card a company uses, Fyle can integrate with them. We also enable direct feeds that automatically match transactions with the corresponding expense receipts based on the business rules defined by the Admin.
- Full integrations with any business software you need
Fyle integrates with any accounting/HRMS/ERP software of your choice. With direct integrations, and self-serve configurations with popular accounting software like Quickbooks Online, NetSuite, or Sage Intacct, moving data in and out of Fyle becomes easy!
Further, Fyle enables you to connect with major accounting software with just your login credentials. No need for IT support or code.
You can integrate Fyle with your bank provider to get direct bank feeds. We integrate with multiple credit card providers to enable automatic reconciliations. We also integrate with your internal travel desk or self-serve travel portal and manage pre-trip requisitions, travel bookings, employee rules, and travel receipts.
- Tight budget control
You can assign separate budgets for Projects, categories, departments, and Cost centers. Alternatively, you can combine budgets such as expenses for specific categories that should not exceed a certain limit for particular Projects, Cost centers, or departments.
Finance teams get a real-time overview of spends against allocated budgets right from their expense management dashboard. A single click into any graph will present the source of data, ready to export and use.
If you like any other features that you like or want us to talk more about, write to us at email@example.com. We’d love to hear from you!