Fyle Named a Major Player in IDC MarketScape and Winter 2020 G2 Leader for Expense Management

Recognition Underscores the Employee-First Platform’s Popularity Among Both Industry Analysts and End Users

BENGALURU, India, Feb. 13, 2020 (GLOBE NEWSWIRE) -- Fyle, the fastest-growing innovator in intelligent expense management, today announced it has been named a Major Player in IDC MarketScape: Worldwide SaaS and Cloud-Enabled SMB Travel Expense Management Applications 2019 Vendor Assessment.

Fyle was also named as a Winter 2020 G2 Leader in the Expense Management category. G2 rates Expense Management software based on user satisfaction, features and price.

These recent validations solidify Fyle’s increasing presence in the expense management market, as analysts and end-users alike recognize the platform’s ease-of-use to enhance the employee experience, as well as its deep analytics to help businesses streamline operations. The IDC MarketScape listed Fyle's intelligence- and employee-centric approaches as two of its strengths, while noting its ability to scale and deliver significant value to both large enterprises and small businesses without any impact on either the user experience or quality of support.

“The best T&E systems are those that understand that at its most fundamental level, travel and expense is about moving data quickly, securely, and efficiently from one party to the next, while also delivering a top-notch experience,” said Kevin Permenter, research manager at IDC. “Fyle is named a Major Player thanks to their intelligence and user-centric approach. Leveraging AI for automated data extraction and processing, Fyle has built a solution that integrates with G Suite, Office 365, Slack, and WhatsApp to ensure that users can submit expenses from within their everyday applications with a single click.”

Meanwhile, G2’s recognition stems from the experience of real every-day users. G2 scores products and vendors based on reviews gathered from its community, as well as data aggregated from other online sources and social networks. The firm applies a unique algorithm to this data to calculate customer satisfaction and market presence scores in real time. An example of user reviews cited by the organization includes: “Fyle has made my life easy. We are living in times when we wish we had 36 hours in a day instead of 24, and software like Fyle makes that wish possible.”

Designed to serve fast-growing SMBs and mid-size enterprises — particularly ones with multi-country operations and distributed field teams — Fyle’s AI-powered expense management platform is built to offer enterprise-grade functionality with a consumer-grade user experience. More than 300 companies in the U.S., India, Singapore, the EU, and the UK use Fyle today.

The cloud-based solution is the first and only integrated system that enables users to “fyle” an expense within Google G Suite and Microsoft Office 365, enabling automated expense reporting directly from user email inboxes. Whether it’s transportation receipts or a software subscription invoice, email has become the default repository for receipts. Fyle’s AI technology extracts data automatically and with a policy ingestion engine at its core, anomalies and fraudulent behavior are detected in real-time to ensure compliance with corporate policies and regulatory requirements.

“Over the past year, the Fyle team has dedicated itself to creating a platform that gives business leaders world-class business intelligence capabilities when it comes to expense management, along with a seamless and easy-to-use experience for employees,” said Yash Madhusudhan, CEO and Co-Founder at Fyle. “We are proud to be recognized by both the IDC MarketScape and G2, as it represents validation among industry analysts and experts, as well as the real-life users who use the platform every day.”

For more information about why Fyle was named a Major Player, please visit here

To purchase the IDC MarketScape: Worldwide SaaS and Cloud-Enabled SMB Travel and Expense Management Applications 2019 Vendor Assessment report, please visit here.

To learn more about why Fyle was named as a Leader on G2, please visit here.

About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors. 

About Fyle
Founded in 2016, Fyle is on a mission to create the most user-friendly expense management experience on the market. A cloud-based, API-driven platform, Fyle's industry-first AI-powered solution provides a mobile and desktop user experience that integrates with employee-first channels including Google G Suite, Microsoft Office 365, and WhatsApp to automate previously manual tasks associated with expense reporting, optimize productivity and harness analytics insights related to employee spend and corporate expenses. Serving more than 300 customers across over 20 countries, Fyle is backed by Steadview Capital, Tiger Global Management, Pravega Ventures, Beenext, and Freshworks. Additional information about the company is available at www.FyleHQ.com, Fyle Blog, LinkedIn, Facebook, @FyleHQ.

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Anna Vaverka
BOCA Communications for Fyle