In today’s fast-paced business environment, managing expenses can be daunting, especially as companies scale and expand. That’s where Qashio, a fintech innovator, comes in, effortlessly streamlining expense management with solutions designed to fuel growth, reward loyalty, and enhance financial efficiency.
At the core of Qashio’s offerings is its corporate card and expense management solution, a product born from real-world challenges faced by Armin Moradi, CEO and Co-founder of Qashio. Reflecting on his experience as a group finance director for a large company, Moradi explains: “I had to spend half a day every week just giving OTPs for transactions I didn’t recognise. With Qashio, we’ve put controls in place where businesses can create unlimited corporate cards, distribute them to employees, and set limits based on merchants, expense categories, or even geographical locations.”
This system goes beyond just issuing cards; it’s about allowing businesses to control and monitor expenses in real time. Each transaction is automatically reconciled with the company’s accounting system, saving time and reducing the risk of errors. “Businesses today are moving very fast,” says Moradi. “To keep up, you need to utilise technology that not only controls expenses but also helps you reconcile transactions seamlessly with your accounting systems.”
Beyond the basics
Qashio’s innovation doesn’t stop at expense management. Recognising the diverse needs of UAE businesses, the company has expanded its offerings to include Qashio Points, Qashio Financing, and Qashio Insurance, each designed to address specific pain points identified by its clients.
Qashio Points is a loyalty programme that rewards employees for using Qashio’s corporate cards, a feature that has proven effective in driving positive behaviour. “We launched Qashio Points because our clients wanted to be rewarded for their behaviour,” says Moradi. “When employees use the Qashio cards and upload receipts promptly, they earn points that can be converted to Emirates Skywards miles. This not only incentivises employees but also aligns their actions with the company’s financial goals.”
On the financial front, Qashio Financing offers a lifeline to businesses facing cash flow challenges. Delayed receivables can cripple a company’s operations, but with Qashio’s embedded lending product, businesses can apply for loans and receive approval and disbursement in less than a week. This solution, developed in partnership with CredibleX, ensures that businesses have quick access to funds when they need them most.
Similarly, Qashio Insurance addresses the often complex and time-consuming process of securing health insurance for employees, particularly for SMEs. Partnering with Yallacompare, Qashio has digitised this process, allowing even the smallest companies to obtain competitive pricing and benefits typically reserved for large corporations. “Our insurance solution is all digital, making it easier and faster for SMEs to onboard health insurance for their employees,” explains Moradi.
Partnerships that add value
Strategic partnerships are a cornerstone of Qashio’s success, amplifying the value of its offerings. Its exclusive partnership with Emirates Skywards, for instance, has set Qashio apart from competitors. “We’re the only corporate card in the UAE where you can earn Skywards miles,” says Moradi. This unique benefit not only adds value to Qashio’s core product but also enhances customer loyalty by offering tangible rewards that businesses and their employees can enjoy.
These collaborations extend to financial services as well. Qashio’s partnership with Mashreq Bank and Visa has bolstered its credibility and expanded its technological capabilities. “We do a lot of projects together with Visa, streamlining our processes and innovating on a global level,” says Moradi. Such alliances have been instrumental in positioning Qashio as a leader in the fintech space, providing its clients with cutting-edge solutions that are both efficient and reliable.
Data-driven insights
One of the standout features of Qashio’s platform is its ability to provide transparent, real-time insights into corporate spending. The centralised consolidation of spending data allows businesses to monitor transactions instantly, offering unparalleled visibility that enhances decision-making. “Everything in Qashio is fully transparent,” Moradi emphasises. “When you do a transaction, you immediately see the amount spent, any FX fees, and even the exact location of the transaction.”
This real-time visibility is crucial for companies looking to stay agile and responsive in a competitive market. By identifying trends and potential overspending early, businesses can adjust their strategies proactively, ensuring that they remain within budget and aligned with their financial goals. “It really helps control the business KPIs,” adds Moradi, “by having that real-time data instead of waiting for days before the information is available.”
Streamlining operations
Qashio’s commitment to making business processes more efficient is evident in its automation of traditionally cumbersome tasks, such as petty cash management. By digitising approval workflows, Qashio has reduced the time and effort required to manage petty cash, ensuring that only authorised transactions are approved and aligned with budgetary guidelines. “The budgetary guidelines are set by the company, and we teach them how to create their policies,” says Moradi. “If a request is outside of policy, it gets rejected automatically, removing friction between employees and ensuring compliance.”
This approach not only streamlines operations but also empowers those who are most familiar with the transaction to take control, resulting in faster, more accurate financial processes. The audit trails provided by Qashio’s system further enhance accountability, making it easier for businesses to maintain transparency and avoid potential discrepancies.
A vision for the future
As Qashio continues to innovate and expand its offerings, the company remains focused on one key mission: empowering businesses in the UAE to thrive. By listening to their clients’ needs and responding with tailored solutions, Qashio is setting a new standard for corporate expense management and beyond. “The challenges we face today are much more about understanding what our clients need next,” reflects Moradi. “We want to be innovative, faster than the banks, and ensure that our clients continue to choose us for the long term.”
