BOYA has announced a virtual expense card for businesses. The reveal is basically a partnership between the Kenyan tech firm (BOYA), payments processor VISA and Diamond Trust Bank (DTB). The card targets businesses and not individuals and will be key in tracking expenses at no added cost.
BOYA
BOYA offers a platform for the newly launched virtual card to track and report expenses for businesses. In today’s launch, BOYA revealed it has integrated its tech in DTB’s cards. “This integration will enable BOYA’s customers to access virtual corporate cards, supported by the Visa card scheme. Businesses can efficiently track, manage, and reconcile company expenses through these virtual corporate cards, streamlining financial processes and promoting financial transparency,” reads a statement from BOYA seen by TechBooth.
Features
BOYA’s tech offers key features for expense tracking. For instance, businesses can capture and categorize expenses in real-time using mobile and web applications, automatically recording transactions upon payment. The system allows for customizable expense categories, instant attachment of receipts, and addition of notes. Businesses can further establish seamless approval workflows tailored to their organizational structure, ensuring compliance and minimizing delays.
The solution also has reporting capabilities, providing valuable insights into spending patterns, budget allocation, and cost-saving opportunities. Customizable reports facilitate informed decision-making. Integration with popular accounting software eliminates manual data entry and reduces errors while automating expense policy enforcement to maintain compliance with company guidelines and regulations. The mobile app compatibility for iOS and Android devices enables users to manage expenses on the go, facilitating payments, expense tracking, and transaction approvals anytime and anywhere.
Quotes
During the launch, BOYA Chief Executive Officer Mr Alphas Sinja said, “We are excited to introduce our cutting-edge Virtual Card Expense Management solution to Kenyan businesses. We aim to empower businesses with a comprehensive tool that simplifies expense tracking, enhances financial control, and drives operational efficiency. By automating time-consuming tasks and providing valuable insights, our solution enables organizations to focus on core activities and achieve their strategic goals.”
