This innovative solution allows businesses to efficiently manage payments and expenses using a single virtual card without incurring any fees.
The Boya platform aims to transform and streamline expense tracking and reporting for businesses of all sizes.
Through this partnership, Boya has integrated DTB’s Cards as a Service offering into its platform.
This integration enables Boya’s customers to access virtual corporate cards supported by the Visa card scheme.
“These virtual corporate cards offer businesses a streamlined way to track, manage, and reconcile company expenses, thereby promoting financial transparency and efficiency.”
During the launch event, Boya’s Chief Executive Officer (CEO), Alphas Sinja, expressed excitement about introducing the cutting-edge Virtual Card Expense Management solution to Kenyan businesses.
“The goal is to provide businesses with a comprehensive tool that simplifies expense tracking, enhances financial control, and boosts operational efficiency. By automating time-consuming tasks and providing valuable insights, this solution empowers organizations to focus on their core activities and achieve strategic goals,” Mr Sinja noted.
Mr Sinja also emphasized that traditional expense management processes often fall short of meeting the demands of modern businesses due to cumbersome paperwork, manual reconciliation, and time-consuming expense reporting.
In response to these challenges, Boya developed an advanced virtual card solution that streamlines and simplifies expense management.
DTB’s Group CEO and Managing Director, Nasim Devji, highlighted the significance of the partnership with Boya.
She mentioned that the collaboration aims to drive real change in the financial services realm by accelerating the development of innovative fintech products and services.
“The goal is to provide customers with personalized, secure, and user-friendly financial solutions, positioning them at the forefront of the industry.”
The Boya platform is a comprehensive, cloud-based solution that automates the entire expense management process. With a user-friendly interface and advanced features, businesses can now effortlessly manage expenses, improve financial visibility, and achieve significant cost savings.
According to the tech firm, the key features of the expense management solution include:
- Easy Expense Tracking: Users can capture and categorize expenses in real time using mobile and web applications. Customizable expense categories automatically record transactions with attached receipts and notes.
- Seamless Approvals: Businesses can establish robust approval workflows tailored to their organizational structure, allowing approvers to review, comment, and approve expenses with ease to ensure compliance and minimize delays.
- Powerful Reporting: The solution offers in-depth reporting capabilities, providing valuable insights into spending patterns, budget allocation, and cost-saving opportunities. Customizable reports facilitate informed decision-making.
- Integration and Automation: Boya’s expense management solution seamlessly integrates with popular accounting software, eliminating the need for manual data entry and reducing errors. It also automates expense policy enforcement to ensure adherence to company guidelines and regulatory compliance.
- Mobile Accessibility: The solution includes a mobile app compatible with both iOS and Android devices, enabling users to manage expenses on the go. Employees can make payments, track expenses, and approve transactions anytime, anywhere, with this convenient feature.