Lightyear, a Northern Irish financial technology company, has expanded its product portfolio to encompass expense management.
Founded in 2017 by Northern Irish brothers, Chris and Roger Gregg, Lightyear enables finance teams to boost productivity by up to 80%. The accounts payable platform facilitates automation within the finance function, helping to reduce manual processing and improve data quality.
Having recently announced its acquisition by The Access Group, Lightyear is accelerating platform development, including its latest expense management feature. The highly anticipated addition to its highly successful accounts payable offering will come with a two-pronged approach, allowing employees to submit expense claims on the go through the mobile app, whilst allowing finance teams to process and reimburse claims through the desktop app.
“We wanted to maximise the technology we currently use within Lightyear to provide our customers with more ways to automate their spend management, in one single platform,” says Chris Gregg, Founder & CEO of Lightyear.
“Our expense feature utilises our industry-leading data extraction technology and advanced approval routing to provide users with a simple, fast and effective way of managing their employee’s expenses.”
The new addition has been in development for the last 12 months and has been eagerly awaited by customers and industry professionals.
Chris highlights, “Our goal is to make life easier for finance teams by introducing automation to their processes. Whether that’s in purchasing, accounts payable or expense reimbursement, we aim to streamline and enhance the spend management process.”
Lightyear users can now analyse spending data across all areas of the business in more detail, helping to make better informed decisions and aiding in their strategic planning. On average, companies which adopt automation into their finance function could save over 25,000 hours of avoidable work annually.
Expense Management is available to use within the Lightyear app, with no additional cost per user or activation fee; a game-changer for the industry.
“Expense management has been our biggest and best feature release since inception 6 years ago. It is gratifying to watch something that was once an idea, develop into a product that is helping thousands of businesses globally.”
“We have an innovative product road map for 2024 with some exciting updates which we’re looking forward to delivering to customers.”
Announcing its recent acquisition, Lightyear has stated it will continue to operate under its original brand as part of the wider Access Group of companies.
Claire Carter, Managing Director of Access ERP commented: “Lightyear is a great fit for our business. The proven success and innovation from the Lightyear team excites us and shows immense potential for the future for this world-class product, in conjunction with the other solutions we provide today. We are delighted to welcome Lightyear into our Access ERP eco-system.”
To find out more about Lightyear's Expense Management feature, click here.