Posted on February 18, 2019 by staff

US tech business to double UK operation


A tech business based in the United States is looking to double the size of its UK operation.

Texas firm Yooz has launched its cloud-based P2P software, which aims to make accounts payable automation accessible for all, on these shores.

It currently employs 15 people at its office in Woking, Surrey, but is considering a move to London.

“Our plan is to become a 30-person company – dedicated to the UK market – within the next five years, when globally Yooz will probably be a 200-person company,” its director Magali Michel told BusinessCloud.

“For now we will use [the current office] as a base. However, considering our growth plan, becoming self-sufficient is definitely on the map.

“Most likely, our future base will be in London and include sales, marketing and professional services.”

More than 100,000 users worldwide have taken advantage of Yooz’s technologies to automate their accounts payable processes.

Current Yooz customers in the UK and worldwide include Five Guys, Gameloft, Mazars, Deloitte, BDO, Grant Thornton, PwC, Go Auto, Novotel, Marriott, Best Western, Mercure, Holiday Inn, Kyriad, Piccadilly, Aimbridge hospitality and thousands of others.

Yooz says it is able to automate over 80 per cent of invoices and reduce cost-per-invoice by up to 70 per cent.

Its end-to-end service runs entirely in the cloud and covers all the P2P process, so companies can easily and seamlessly capture, manage, and process financial documents without up-front investment.

It also integrates natively with more than 200 accounting software and Enterprise Resource Planning software solutions including SAP, Microsoft Dynamics and Sage.

Michel said: “Yooz experienced more than 50 per cent growth last year, so we felt this was the perfect time to launch our solution in the UK.

“The UK offers an outstanding environment for global technology companies, with its strong start-up culture and an appetite for innovation and new technologies, with late payments identified as a major challenge to the UK economy, the market is ripe for accessible AP automation.”