The solution allows companies to get complete visibility, control and flexibility of corporate expenses, facilitating well-informed cash flow decisions
Dubai, UAE, 15 June 2022 – UAE-headquartered fintech company, Qashio, has recently announced the launch of the UAE’s first corporate expense management card and software for business transactions, offering companies new levels of control over spending. The enterprise-grade expense management platform enables business owners and finance leaders full visibility and advanced control of all expenses. The fintech has become the first in the region to launch UAE-issued corporate debit cards for business transactions.
Qashio’s mission is to help make expense management completely seamless. Its corporate cards can be issued instantly and companies can decide if they want a virtual-only card or an accompanying physical card. The software also allows for a range of controls to be applied to the card including setting budgets by day, week or month, restricting vendor or category usage, restricting ATM withdrawals, setting a card suspension date and controlling the status of the card.
According to various reports, a staggering 82% of businesses fail because of a lack of proper cash flow management. This is especially true for smaller companies that are starting out with a limited budget for their business. Fintech solutions have improved countless business processes and Qashio transforms how businesses manage their expenses.
Aside from the ability to issue cards, Qashio offers companies a comprehensive solution that gives them control over their company spending by offering real-time visibility of their day-to-day operational and employee expenses. From their Qashio Control Centre, companies can disburse budgets, issue cards, manage their cards with a range of controls, generate reports and collaborate on requests and approvals. In addition, Qashio is integrated with most of the top ERP and accounting softwares, which allows companies to effortlessly sync their expenses and avoid the long and painful process of manual reconciliation.
Existing tools hinder firms’ priorities with cash flow management. According to a recent study, Over 80% of business leaders are prioritizing increasing cash management and payment efficiency and maximizing cash flow liquidity. However, only about 1 in 3 currently has capabilities to improve visibility and generate accurate forecasting, and of those, about half are dissatisfied with these capabilities. Qashio is here to provide businesses the tools they need to effectively manage their cash flow.
Armin Moradi, Co-Founder & CEO at Qashio, “The biggest pain point Qashio is solving is the lack of visibility and control over company cash and spending. Companies do not currently have real-time insights into their actual spending and therefore have inaccurate estimates of their cash flow. We are also removing manual processes, which are both time-consuming and prone to human error. With these cards, we are allowing companies to automate their spend management processes and they can free up their employees’ time to focus on more impactful activities.”
Qashio has been a part of many forums to educate the market where they have emphasized why the future of cash management is cashless, stressing the need for company leaders to future-proof their business. Recently at the Seamless Middle East 2022 conference, Qashio was present as a speaker educating the attendees on the challenges and the costly process of manual spend management and how Qashio’s comprehensive solution can help start-ups and SMEs through a presentation titled ‘Time is money: save both with corporate cards’.
In the short term, Qashio’s vision is to build the most efficient and comprehensive solution to allow its partners to move toward a cashless ecosystem. In the long term, this holistic digital cash management solution will allow companies to completely eliminate the need for cash and allow them to streamline all their financial management processes onto one unified platform.
Qashio is proud to list some of the most innovative and forward thinking UAE companies amongst its customer base including Instashop, Carasti, Grubtech, Nana, Spades, Gourmet Gulf and Udrive.
In these uncertain times, companies need to be more connected, effective, and efficient than ever. Flexibility, transparency, and automation are the three keys to expense management success and Qashio’s corporate card and financial control software can help companies control their business and finances in a way that has never been possible before in the UAE. Early bird benefits are available to those companies that jump on board before the end of the second quarter of 2022.
For more details on Qashio or for further advice on best practice spend management solutions visit www.qashio.com.
About Qashio:
Qashio is MENA’s first multi-level expense management system which allows companies to instantly issue cards for their employees. The all-in-one solution allows you to create physical or virtual cards, disburse budgets, grant or restrict employee usage, set approval layers and verify spending. Companies can track card usage and analyze and report spending, all in real-time.
