Yokoy, the firm focused on Accounts Payable Invoice Automation (APIA), has been recognized in Gartner’s Hype Cycle Report for 2023, the analyst’s annual report into the maturity and benefit of emerging technologies in procurement and sourcing.
Yokoy was named a sample vendor in the APIA category, “with the well-established and much recognized methodology positioning the category as ‘Early Mainstream’ with a benefit rating of ‘High’.”
Gartner defines APIA as tools “that ‘automate the capture, validation, and processing of invoices’. Its report acknowledges that APAI solutions can help with reducing the cost of invoice processing as well as ‘improved legal compliance, reduced supplier invoice inquiries, faster invoice dispute processes, improved cash management visibility and fraudulent payment reduction’.”
Yokoy’s innovative approach “to invoice management uses AI and machine learning to automate the capture, process, and payment of invoices with customizable workflows that enable organizations to adapt effortlessly to new regulations and governance requirements across global entities.”
Philppe Sahli, CEO of Yokoy, said:
“I’m proud that Yokoy is leading the way in bringing new AI and Machine Learning solutions that will radically transform how organisations manage invoice and payments. As the business landscape continues to evolve and more countries introduce regulations around e-invoicing, we’re committed to supporting our customers as they continue to modernize their finance operations with cost-effective, compliance-ready accounts payable processes.”
Yokoy’s APIA solution, and Yokoy Pay, are “a part of an intelligent spend management platform that includes modern solutions for expenses, payments, and invoicing.”
Together, they take the hyper automation in accounts payable into “the AI age and are trusted by leading companies across a wide range of industries in Europe.”
Yokoy automates spend management for medium and large enterprises “with artificial intelligence, combining expense management, supplier invoice management and smart corporate cards into one single intuitive platform.”
Founded in Switzerland in 2019 “by experienced business professionals and scientists, Yokoy is the all-in-one fintech platform that provides an AI-based full spend management suite for midsize and enterprise companies. By combining automation, API integrations and machine learning developed in Yokoy’s own research lab, the company offers expense management, supplier invoice management and smart corporate credit cards in a single intuitive tool. All underpinned by the most up-to-date security and stability.”
Yokoy’s mission is to finally rid “the corporate spending world of the legacy processes that have plagued it for decades and is backed by leading investors including New York-based Left Lane Capital and London-based Balderton Capital.”