Purchasing Fyle allows Sage to add AI-driven expense management to its SMB financial technology stack, improving automation and streamlining processes.

Sage, a finance ERP supplier, has acquired Fyle, an AI-powered expenditure management platform, in a major step to strengthen its small and mid-sized business (SMB) technology stack. The acquisition highlights Sage’s strong commitment to embedding intelligent automation into the financial operations of SMBs. With this approach, financial institutions may turn a laborious procedure into a smooth, data-driven operation.

Fyle was founded in 2016 as a result of the founders' worries about costs, including the need to manually match receipts to expenditures, manage laborious procedures, and endure lengthy wait times as employers processed refunds. Fyle tackles these issues by developing a more intelligent and straightforward solution. Because it is card-agnostic, companies may keep their current credit card programs while automating their spending, and accounting and finance departments can receive real-time notifications on their transaction data.

Additionally, Fyle offers end customers an easy-to-use interface that enables them to submit and reconcile expenses using just a text message. Today, the company employs more than 150 people and serve over 1,600 direct customers in the US in addition to thousands more through white-label collaboration. Fyle will keep connecting with finance and accounting systems from outside parties. More extensive deployments throughout North America and other markets are soon to follow the integrations that Fyle now has with Sage 300 and Sage Intacct Construction and Real Estate.