Yokoy and Swisscom form strategic alliance

Zurich/Bern – Yokoy, a provider of a spending platform for medium-sized and large companies, is now also available to Swisscom customers. The alliance aims to simplify expense reports, the management of supplier invoices and payment with smart company cards using an intuitive tool.

Swisscom provides its customers with the artificial intelligence (AI)-driven spending platform from the Zurich-based company Yokoy. Yokoy's spend management solutions will be available as part of the Swisscom Conextrade portfolio for all existing and new Swisscom customers who want to optimize their spend processes, according to a statement.

Conextrade from Swisscom specializes in the digitalization and automation of purchase to payment (P2P) and order to payment (O2C) processes. Business transactions are supported by the electronic exchange of data and documents via their electronic data exchange network. "With Yokoy, we are introducing a revolutionary AI technology into our customers' spend management," Mike Fäh, Head of Conextrade at Swisscom, is quoted as saying. The strategic partnership strengthens Swisscom's position as one of the leading companies in the digitalization of business processes. Yokoy's expense management platform combines expense reports, supplier invoice management and payment with smart company cards in an intuitive tool based on state-of-the-art security technology.

With the use of AI in Yokoy's expense management solutions, unstructured data records such as invoices and receipts could be analyzed and compared with legal or internal company guidelines. This eliminates the need for manual input, which saves time and helps to avoid errors. "Together we are revolutionizing how companies manage their financial operations. Swisscom is already working with the kind of companies that also benefit significantly from our solutions," Ben Crow, Global Head of Partnerships and Alliances at Yokoy, is quoted as saying. ce/js

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