2018 Review of Fyle Expense Management

Fyle is best suited for small to mid-sized businesses that need to track employee expenses, and currently offers two products; Fyle Lite for individuals, and Fyle Enterprise, which is available in three versions. Once signed up, system admins are able to invite others to use Fyle.

After signing into Fyle, users receive a prompt to create expenses and reports using quick actions, though users can skip this step during the initial product setup process. Email add-ons for both Gmail and Outlook are available that make it easy to automatically record receipts in Fyle.

The intuitive user dashboard is where users can access all system functions, including expenses, report status, inquiry, approved, and payment queue.

Fyle is completely online and also offers mobile apps for both iOS and Android smartphones and tablets, providing users with the ability to snap a photo of a receipt and upload the image directly into Fyle.

Fyle offers multiple system access levels, including spenders, approvers, admins, and finance, with each user able to be assigned multiple access levels. Users are able to choose their default currency during the initial setup process, and payments and advances can be processed based on international currency rates, or in the appropriate currency. Expenses can also be tracked in multiple currencies as well.

Fyle uses a policy engine, where admins can set up company policies. When policies are violated, a notification will appear on screen advising users of the appropriate actions that need to take place either by the submitter or the admin. Fyle offers three policy actions available to implement; mark the submission as a policy violation, which flags any expenses that have violated stated policy; cap the claimed amount when it exceeds reimbursable amounts that have been set; and add approvers for specific policies, which is instituted if the report submitted requires a specific person to approve it.

Default mileage information can be entered during product setup, with users able to enter starting and ending mileage and Fyle will calculate the number of miles traveled as well as the correct mileage expense. Users can add travel policies during setup which will track and notify the appropriate personnel if a policy is violated. Currently, the product does not offer nor integrate with any hotel or travel related apps.

All corporate credit card data can be synced for automatic import into Fyle. All cards can be assigned to a specific employee if desired. Imported data can then be matched with previously entered expenses, or users can enter the expense if it has not already been entered.

Users need to click on the Create Report process to start an expense report, with the option to select the expenses they wish to include in the report.

Fyle supports a multiple approver hierarchy, with each employee able to have up to three approvers assigned. Approvers have the option of sending the approved report on for reimbursement, or simply send the report back to the submitter to correct any errors. Once a report has been approved, it is sent to the queue where it can be accessed for payment processing.

Detailed analytics are available that provide report expenses, violations, and an expense summary. Users can choose the time frame they wish to view any analytics for and can also choose report results by both location and employee if desired. An Admin dashboard is also available that provides a quick summary of expense and reporting totals including unreported expenses, report dollars, submitted report totals, reports approved and any pending reports that need to be approved.

Fyle offers seamless integration with QuickBooks Desktop, QuickBooks Online, NetSuite, and Tally, and also includes a powerful API for integration with a variety of third-party applications.

Fyle offers a good help file, that provides access to a variety of articles that address a variety of system issues and problems, with users able to browse articles or enter a search term for a specific issue. Users can also contact support directly with any other issues via email.

Well-suited for small to mid-sized businesses that need to track employee expenses, Fyle Enterprise offers three product versions; The Team version, which is $4.49 per active user per month, the Company version is $6.99 per active user per month, and a Custom version, with pricing available upon request. A free 14-day trial is available for those interested in the product.

2018 Rating – 4.75 Stars

 

,