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Expense reports suck, but AI could make them less tedious

(BUSINESS FINANCE) Expense reports suck. There’s no other way to describe them. Here’s a way to make the process suck less. Thanks, robots!

expense reporting expense reports fyle AI

A few years ago, I worked at a law firm doing clerk work during college breaks. One particular spring break, I found myself in a fluorescently lit office with zero décor, tracking expense reports. The whole break I sat there and wondered what I had done in a past life to deserve this nonsense.

All joking aside, expense reports are super boring. They just are. But, they are necessary to make sure that everything is on the up and up.

While going back and forth with my highlighter, crossing all of my T’s and dotting my I’s, I couldn’t help but think that there had to be a more efficient way to do this. Apparently robots were reading my mind, as there is an AI that now exists to expedite the expense report process.

Fyle is artificial intelligence powered expense tracking and reports. With everything from e-receipts to physical bills, Fyle’s technology tracks expenses and reports accurately in real time. This allows users to organize and manage all of their receipts and reports in a simple way.

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Fyle comes with a pleathora of features, including: automatic data extraction, automatic policy enforcement, real-time expense visibility, dynamic approval system, custom approval hierarchy, third party APIs, trip authorization and requests, multi-country and multi-organization setup, and automatic account syncing.

With this, Fyle’s automatic reporting allows expensing to happen in one click, right within your email (via Fyle’s email plugin). Also, Fyle’s Policy engine determines expenses that require review and approval based on your expense policies.

For team friendly use, you can sync your corporate card transactions and auto match expenses that have been “Fyled”. You then receive real time visibility of receipts submitted against the transactions that were made. Fyle also allows for users to send in trip requests to receive authorization (equip with budgets, additional requests for flight, hotels, advances, etc.)

One important aspect of Fyle that can be an issue for a human is that it employs a method of duplicate detection. That way, every expense and report is one and done.

While this may be a helpful assistant in expense tracking and reporting, it’s always best to have a real set of eyes to check everything for accuracy.

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Staff Writer, Taylor Leddin is a publicist and freelance writer for a number of national outlets. She was featured on Thrive Global as a successful woman in journalism, and is the editor-in-chief of The Tidbit. Taylor resides in Chicago and has a Bachelor in Communication Studies from Illinois State University.

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