You never hear of anyone winning an award for Best Receipt Keeper, because you’d never find enough entrants to make a contest in that category. Most of us struggle with keeping expenses in order, personal and business. Add frequent work travel to the mix? We’re toast.
About the only thing that we do find a way to manage reliably when we’re traveling is email, which is why Fyle is such a handy new tool.
Fyle is a Chrome extension that lets you track business expenses from your email, automatically capturing expense data and e-receipts from within Gmail and Outlook. You’re off the hook when it comes to manually entering data on your own, submitting expenses late – and for the inevitable loss of receipts while on the road.
Using what Co-Founder Siva Narayanan describes as “fancy-pants AI algorithms”, Fyle extracts information such as amounts, merchant name and category from your email, saving an incredible amount of time and hassles.
Narayanan explains that he found motivation for building the app out of his own frustrations with never having enough time to sort through invoices and consequently losing money for failing to submit claims to his company. Sound familiar?
Fyle is a smart solution because it’s within easy reach in email and because it requires so little effort. One click, and you’ve done your duty. Fyle stores your receipts and syncs data with your accounting system, so you can focus your energies elsewhere.
The Fyle mobile app lets you capture pictures of paper receipts, again extracting amount and category information for safe keeping in the cloud. Another feature of great value to professionals is the ability to match up your credit cards, so no expenses are forgotten from this oft-used means of purchasing.
A few more details that make Fyle ideal for organizing business expenses include the option to organize expenses by clients or projects so that you can more clearly see where your money is going, per diem and petty cash recording and settlements, and policy engine flags which you set up to alert yourself when you might be in danger of violating company expense policies.
Tired of devoting time that should be reserved for decompressing after a trip to processing receipts? Learn more about how Fyle can help you manage your business expenses or install Fyle for your Gmail by visiting the company’s website here.
Keith Liles is a freelance writer who loves travel, music, wine, hiking, poetry, and just about everything. He practices saying “yes” to life vigorously, rehearsing for the phone call when he’s asked to tour with Bruce Springsteen and the E Street Band. Follow Keith on Twitter @KPLiles.