Startup Yokoy Leverages Artificial Intelligence to Manage Corporate Spend

SIX is the founder and principal minority shareholder of the F10 FinTech Incubator & Accelerator and operates its own corporate venture capital fund through SIX FinTech Ventures. In the Elevator Pitch blog series, startups that are backed by SIX FinTech Ventures or which took part the programs run by the F10 FinTech Incubator & Accelerator introduce themselves.

Today’s pitch is being made by Philippe Sahli, the co-founder and CEO of the startup Yokoy, which was a winner at the 2021 Swiss FinTech Awards, made a successful showing on the Höhle der Löwen (Shark Tank) TV show, and was a finalist at the 2021 Swiss Economic Forum. SIX FinTech Ventures has been invested in Yokoy since 2020. The startup company also took part in the F10 scale-up program.

“We assist the finance departments of midsize and large companies with our solution. As an all-in-one solution, Yokoy consolidates all corporate spend on a centralized platform and automates the clearing and settlement of them with the help of artificial intelligence, regardless of whether it’s a matter of supplier invoices, employee business expenses, or credit card invoices. We help companies to save time and to cut corporate spend management costs by up to 90%. It costs a company an estimated 58 US dollars to process a single expense account report and between 12 and 32 US dollars to process an invoice. With Yokoy software, we can process expense account reports up to 90% without human intervention and can detect fraud with excellent reliability. Yokoy software also gives companies valuable insights into their data: comprehensive analytics functions enable Yokoy to detect patterns and trends in expenditures, providing a foundation for reaping further savings potential and making target-driven business decisions.”