SaaS-based expense management software startup Fyle Technologies has announced the launch of Fyle Lite, India’s first expense management app designed exclusively for employees to make expense reporting intuitive, effortless and simple.
Fyle’s unique ML powered data extraction technology extracts expense data from all kinds of receipts, be it electronic or paper, with a single click. Fyle is integrated with various apps like GSuite, Outlook and other services that employees use on a daily basis and makes sure employees never lose track of their business expenses.
Designed for enterprises, Fyle has already helped transform employee reimbursement process at some of the world’s top enterprises like Edelweiss Tokio Insurance Limited, Freshworks and Hero Group.
Fyle Lite extends the same experience to employees of companies that do not use Fyle yet. Employees can easily create an expense report in PDF format, CSV format or as an excel sheet that can be sent to their managers and accounts team for approval and reimbursement. Fyle Lite is currently available free of cost for employees to download and use.
Aneesh Reddy, CEO and co-founder, Capillary Technologies, a customer of Fyle said, “Earlier I used to procrastinate filing travel expenses with the accounts team as the previous tool and process were cumbersome and frustrating. Fyle has made expensing so easy and seamless that I don’t even have to worry about it. It just happens!”
Srikrishnan Ganesan, Director of Product Management at Freshworks, a user of Fyle said, “Dealing with expenses is a chore, and earlier, I’d always put it off for another day. Printouts, filling forms, etc felt like just the wrong way to spend my time. Now with Fyle, it’s a lot easier, and I get my job done in a few scans and uploads.”
“The idea is to make expense reporting in the workplace as easy as posting a photo on Facebook, it really shouldn’t be tougher than that,” says Yashwanth Madhusudan, CEO and Co-founder, Fyle Technologies. “I still remember our struggles with various expense management solutions when we were employees and hence we knew we had to create a usable solution for employees. With Fyle Lite, employees would never have to manually file another expense ever again.”
Last month, the company raised a fresh round of funding. Fyle is funded by Freshworks, Pravega and Beenext and has enterprise customers like Hero Fincorp, Edelweiss Tokio Insurance limited Exide Life Insurance, Zivame, Teach For India and many more.
The other apps that organize finances and track expenses are Walnut, Monefy, Wallet app, Money View, Money Lover & Qykly among others.