UAE-based fintech company, Qashio, 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. Now, Qashio 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.”