Fyle and Decimal Partner on Real-Time Expense Management

Fyle and Decimal have partnered to deliver real-time expense management to small businesses.

With this collaboration, users of Decimal’s financial operations technology platform for small and medium-sized businesses (SMBs) will be able to access Fyle’s artificial intelligence (AI)-enabled expense management software, the companies said in a Tuesday (July 18) press release.

“By joining services with Fyle, we can help a broader range of businesses manage their expenses, categorize financials and develop scalable processes for controlling the spending across a company,” Decimal CEO Matt Tait said in the release.

Fyle’s expense management software integrates with all credit cards to provide real-time feeds, according to the press release. It also features a two-way integration with QuickBooks Online.

As soon as employees spend on their cards, they get notified via SMS and Slack, the release said. They can even upload a picture of the receipt to the text and Fyle will match it to the right expense in mere seconds.

“We have been working to build a world where not a single second is spent on managing expenses,” Fyle CEO Yashwanth Madhusudan said in the release. “Administering staff expenses isn’t core to anyone’s role, but it’s time-consuming and frustrating. We look forward to working closely with the Decimal team to bring the combined best-in-class solution to SMBs in the U.S.”

Spend management software delivers an experience that is quite different from the manual process so many small businesses are still using, Madhusudan told PYMNTS in an interview posted in April 2022.

People are adopting the technology because they have used apps and software in their personal lives and now want to see that same kind of efficiency in the workplace, Madhusudan said at the time.

“Great experience for employees translates to efficiency and automation for the accounting department,” Madhusudan said. “The easy employee experience and smart AI-powered automation save days at the end of the month for accountants in closing books.”

The new partnership of Fyle and Decimal comes about eight months after Decimal acquired the assets of KPMG-owned KPMG Spark and added that cloud-based bookkeeping service to Decimal’s suite of automated accounting solutions for SMBs.