Why Startups & SME’s Need a Spend Management Solution

As technology advances and digital solutions become more democratised, technologies which were previously only accessible to deep-pocketed corporations are now becoming available to startups and small to medium sized businesses. Cost-effective tools and solutions are helping companies digitise and automate processes as well as future-proof their business and Qashio is along for that ride!

One of the biggest challenges companies face is managing and tracking their day-to-day operational expenses. With little to no visibility on their daily spending, companies are often victim to unwanted surprises at the end of the month when employee expense reports start rolling in. Qashio’s aim is to eliminate those nasty surprises and lower the collective blood pressure of all finance managers in the region!

Traditional expense management softwares, which allow employees to record their expenses and upload receipt copies, were a positive step towards digitising the expense management process, but only allowed companies to verify spending reactively and have done little to help companies manage their cash flow. At Qashio our aim is to revolutionise Spend Management across the GCC with a comprehensive solution which combines Expense Management software with company controlled corporate card issuance.

Spend Smart

Spend Management solutions empower businesses to spend smarter by allowing them proactively manage their budgets and gain real-time visibility on spending. With Qashio, companies have the ability to issue unlimited virtual or physical corporate cards and tactically manage budget allocation and company spending. As the first solution of its kind in the region and the first to go-live and receive regulatory approvals in the UAE, we decided to build our product tailored to the regional nuances and help solve these problems that business leaders face on a daily basis.

Take Control

Qashio offers easy to issue & control corporate debit cards, as well as full automation in financial and budgeting processes. Qashio cards can be issued in a virtual or physical form and easily added to Apple Pay, Google Pay and Samsung Pay.

Petty cash management is one example of a process which Qashio aims to improve for SME’s. Managing petty cash is a time consuming and costly process for companies resulting from a reliance on out-dated, manual practices. Most companies in the region still manually record expenses and reconcile those one-by-one through the painful process of receipt matching. Qashio automates the entire petty cash management process from start to finish by allowing companies to issue an unlimited number of corporate cards for their employees, replacing the need for cash. Companies can set proactive controls on their cards including spending limits, spending frequency and restricted vendor or category usage. Digital receipts are easily captured through our app and automatically reconciled and synced to most major accounting systems.

Be Proactive

SME’s can proactively limit instances of fraud or misguided employee spending through a series of control features. Setting preemptive controls on card usage removes spending ambiguity from the equation by automatically limiting employees from over-spending or spending with non-approved vendors, giving employees the confidence to spend in the knowledge they are complying with company policies. Qashio aims to further empower employees by giving them access to the Qashio app which allows them to view their transactions and available balances and request for approvals for increased funds instantly.

Collaborate

In a startup or small business environment where time and resources are limited, companies need to create efficiencies wherever possible. The Qashio system has been designed to allow companies to streamline communication around spending through inbuilt collaboration tools. Not only does this save time but it also eliminates the risk of miscommunication which can arise during offline conversations. These tools allow companies to keep a comprehensive record of spending decisions which becomes crucial during the auditing process.

Record and Report

Qashio offers direct integrations with all major ERP & accounting softwares and aims to streamline the reconciliation of company spending in order to make the auditing process as fast and efficient as possible for our partners. Companies can reduce resources dedicated to the tedious manual reconciliation of day to day spending and focus on more important and impactful work.

At Qashio, we believe access to real-time data and insights should not be a luxury available only to large corporations and we provide our partners with the tools and resources they need to make proactive, strategic decisions and manage their cash flow more effectively. The Qashio Control Centre offers partners the necessary tools to generate reports and better understand their spending habits.

Get in touch with our team to understand how Qashio can help your business to grow.

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