Sage Acquires Expense Management Firm Fyle
Sage, a provider of accounting and financial technology for small and medium-sized businesses (SMBs), has acquired Fyle, an AI-powered expense management platform. The acquisition aims to streamline and automate expense workflows.
Sage, a company specializing in accounting, financial, HR, and payroll technology for small and medium-sized businesses (SMBs), has announced the acquisition of Fyle. Fyle operates an AI-powered expense management platform designed to simplify and automate the tracking and management of business expenses.
The acquisition is intended to enhance Sage's existing ecosystem, providing SMBs with AI-driven tools to further automate financial workflows. According to Sage, this move will allow business owners and financial leaders to dedicate more time to strategic growth initiatives.
Founded in 2016, Fyle offers a card-agnostic solution, enabling businesses to continue using their current credit card programs while automating expense reporting. The platform provides real-time transaction notifications and a user-friendly interface for employees to submit expenses. Fyle currently employs over 150 people and serves more than 1,600 direct customers in the U.S., along with additional users through white-label agreements.
Fyle's platform will continue to integrate with various third-party accounting and financial systems. Within the Sage ecosystem, Fyle already integrates with Sage Intacct and Sage 300 Construction and Real Estate, with further integrations planned across North America and other regions.