TravelPerk acquires Yokoy to launch the next chapter in Intelligent Spend Management
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Co-founder & CEO, Yokoy
Today marks an exciting new chapter for Intelligent Spend Management as TravelPerk, the hypergrowth global business travel platform, acquired Yokoy, bringing together two best-in-class platforms that are transforming the way companies operate.
Starting the next chapter in our story presents an incredible opportunity to combine Yokoy’s innovative AI and automation with TravelPerk’s industry-leading platform to deliver a first-of-its-kind experience to all our customers.
In the five years since we launched Yokoy, we’ve accelerated the move to global zero touch spend management.
Through our innovations in AI and automation, we’ve helped finance leaders at more than 700 companies around the world transform the way they handle expenses, invoices, and card payments.
Our Intelligent Spend Management Platform has been the catalyst for their transformation initiatives, sitting at the heart of the finance tech stack to help CFOs control, streamline, and optimise their operations.
Together with TravelPerk, we’ll be able to accelerate that transformation through a single, end-to-end platform for company travel and expenses. And of course, it will leverage the AI, automation, and customisable workflows that sit at the heart of Yokoy.
My co-founders and I have known TravelPerk’s founder, Avi Meir, since we started Yokoy and throughout that time have always looked for ways to work more closely together.
Through our shared customers, we’ve seen the value TravelPerk brings, delivering a first-class user experience, an unmatched travel inventory, and of course integrations into platforms like Yokoy to help streamline the way people book, manage, and pay for travel for work.
Today’s announcement is a continuation of that partnership, and will bring travel and zero-touch spend management together into one solution.
Deeply local, fully flexible, and easy to use
For our customers, you’ll still use Yokoy exactly as you do now, whether you’re uploading receipts in the app, using your Yokoy card, or approving invoices — everything will be exactly where it was yesterday.
You’ll still have access to all your workflows, controls, and admin tools that help you manage company spending.
You’ll also still have all the integrations into your existing tools so you can continue to leverage Yokoy’s intelligence and automation across your tech stack.
And you’ll still work day-in, day-out with the same world-class team at Yokoy that you always have.
So, what’s changing?
As well as the standalone Yokoy Expense, Invoice, and Pay modules you already know and love, you’ll also soon have access to an additional end-to-end platform for travel and expenses.
As well as all the functionality you already enjoy in Yokoy, it will give you access to the world’s largest travel inventory and intuitive user experience that’s made TravelPerk one of the fastest-growing B2B travel technologies in the world.
But this is more than just bringing a new functionality to our customers — our goal remains to transform the way finance teams work, and a single platform will accelerate that by:
- Simplifying control of company travel and spend policies across multiple entities
- Increasing visibility into spend across teams and entities in the company
- Streamlining payments by integrating your travel management and business card programs
- Reducing the risk of non-compliance through AI-powered verification at every stage of the journey
- Eliminating manual work by applying AI and automation to the end-to-end travel and expense user journey
- Increasing flexibility with customisable workflows so you can easily manage and maintain travel and spend policies across entities
Plus, everyone in the company will get the benefit of a single, intuitive interface for every aspect of travelling for work, from booking a trip, to paying for the things they need, and submitting their expenses at the end.
Seamlessly integrated, committed to customers
At Yokoy, we’ve seen first-hand the value that seamless integration brings — in fact we’ve been working hand-in-hand with TravelPerk to deliver that very experience to many of our customers for years.
Our open ecosystem has enabled companies to connect Yokoy to everything from their ERPs, HR systems, invoicing tools, travel management platforms, and everything in between.
These integrations have been, and will continue to be, essential to a successful zero-touch spend management program. And with TravelPerk, we’ve seen many examples over the past 5 years of how our two companies can work together to deliver that for our customers.
We recently ran a webinar with one of those customers, MedSkin — you can check it out here if you want to dive into their program and how it works.
Similarly, we worked with TravelPerk to help Breitling improve its compliance processes and deliver higher quality, real-time data back to its finance team — read the full story here.
I’m thrilled to be able to bring not just two incredible technologies together, but also two world-class cultures that are focused on delivering value for their customers.
Having spent a lot of time over the last few years with the team at TravelPerk, I’m convinced that together, we can deliver something truly transformative for our customers.
I can’t wait for you to experience our joint T&E solution.
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