How Autochek Africa automated policy compliance for easy expense management with Fyle

About Autochek

Autochek is a Nigeria-based automotive technology development company. They bring the sales and servicing of cars in Africa online, with auto loans, quality maintenance and after-sales services, and transactional marketplaces. The newly founded venture has also closed a $3.4 million pre-seed round in 2020, co-led by TLcom Capital and 4DX ventures. This comes after their recent acquisition of the digital car sales marketplace, Cheki, in Ghana & Nigeria. This fast-growing startup is operational in West and East Africa, and has developed a partner-led retail footprint with over 500 service centers.

Expense management before Fyle

Autochek’s expense management process was largely manual. The expense reporting and approval were done via email. Employees sent emails with expenses attached, and approvers had to reply to the email thread to approve or reject claims. Since they have complex, multi-layered approvals, expense approval was cumbersome.

Challenges that made Autochek look for a new platform

• Employees and approvers didn’t have any way to track all the submitted expenses in a single place.
• It was time-consuming for Managers and the Finance team to approve, process and reimburse payments.
• The current process of managing expenses through email was not scalable as many expenses and approvals were lost in mail threads.
• Approvers had to keep replying to multiple emails rather than approve all expense reports from a single location.
• The Finance team had to follow up on expense submissions and approvals manually.

The Autochek team decided to use an automated platform that could make expense reporting a breeze for the employees. And one that eased the burden of expense approval and reimbursement for the finance team. Another important deciding factor was a seamless integration with their Accounting Software, Xero.