The card is part of Yokoy's spend management platform and is integrated with selected travel partners' systems. This provides travel managers and finance departments with greater transparency in the management of business travel and travel expenses.This solution is the latest addition to Yokoy's expense management platform. Using artificial intelligence (AI), Yokoy aims to give businesses control of their business spending by automating expense management, invoice processing, and business payment card management.
Yokoy’s mission is to tackle the issue of error-prone and costly travel invoice processing with the Yokoy Smart Lodge Card by enabling automatic reconciliation. Where traditional cards usually provide monthly statements, with the Yokoy Smart Lodge Card all travel and transaction data is entered directly into the Yokoy platform, where they are merged without manual intervention. This saves companies time when handling travel costs and provides an overview of their travel costs.
Yokoy combines travel reimbursement with an expense management platform. A 'lodge card' is a virtual company pass that is stored in a company's travel booking tool. All expenses for flights, trains, and travel agency fees are paid through this card, and in some cases also expenses for hotels. An employee can therefore choose a flight or train ticket via the company's online booking tool. This is then automatically paid with the lodge card.
For full coverage of all travel expenses, the Yokoy Smart Lodge Card can be combined with the Yokoy Business Platinum Visa Card to also cover expenses incurred while traveling, such as paying for a taxi or dinner. According to a Yokoy representative, while their new lodge card focuses on pre-trip payments, their smart payment card gives employees the flexibility to pay for their expenses during the trip. Ultimately, all these transactions come together in Yokoy for reconciliation, giving finance departments a complete picture of the cost of a business trip.
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