Like most companies yours is likely been making payments in conventional ways i.e cash, cheques, bank transfers and occasionally mobile money. The mix of multiple and fragmented payment methods result in huge inefficiencies and losses, that companies have almost become accustomed to, such as;
- Risks when withdrawing petty cash and mistakes or misappropriation in its use
- Uncertainty on utilization of staff cash allowance and validity of expense claims
- Time and costs of preparing and circulating small value cheques for signatures
- Time and costs in paying casuals in bulk weekly in cash or through the bank
- Time consuming reconciliation for small value payments made in various ways
Well, through the intersection of financial services and technology, there is now a better way to for companies to make payments and manage expenditure.
Popote Pay is a powerful spend management application for businesses. It enables companies to make payments digitally, supported by team collaboration, expense management, reconciliation and analytics features. The combination provides business owners and finance managers with real-time visibility and control over company expenditure, from their devices, regardless of physical presence.
Popote Pay allows businesses to digitalise the three most challenging payment processes;
- Petty Cash - disburse small value payments digitally and instantly, while automating reconciliation and record keeping
- Employee Spend - enable employees to make mobile money payments from company funds, with full accountability
- Casual Wages – pay wages in bulk to mobile numbers or bank accounts, with statutory deductions where applicable
And it can also be used to handle other payment related processes better than conventional methods allow;
- Company Spend – settle any expense digitally, to mobile number, till, paybill or bank. e.g suppliers, utilities and taxes.
- Working Capital Loans – Obtain short term, instant overdrafts to bridge short periods of constraint in working capital
Popote Pay empowers all employees in a company to make payments while ensuring managers have visibility on spending, and that leaders and stakeholders have access to accurate, reports on expenditure.
We recommend that companies try Popote Pay first for petty cash and then decide if it is right for all your other payments; account payables, payroll, suppliers, utilities etc. It is simple and self-explanatory to use.