Businesses can enhance petty cash management through digital payment solutions, improving operational efficiency and guarding against misuse and theft. Tende Pay, a platform for business operations, is deploying its solution to empower enterprises of all sizes, enabling them to oversee and maintain petty cash balances efficiently.
Tende Pay’s platform assists organizations in managing working capital and improving productivity by digitizing payments and providing visibility over them, according to Wangui Njoroge, Tende Pay’s SME commercial lead.
Managing petty cash is crucial for businesses, especially when making small, frequent payments that don’t justify writing a cheque. Traditional methods are time-consuming and prone to errors.
Tende Pay addresses these challenges, offering a comprehensive solution for transforming petty cash management. It allows decision-makers to control their business operations remotely and provides multiple approval levels for petty cash payments.
Finance directors can control petty cash disbursement in real-time from a centralized location, even for businesses with multiple branches nationwide. Small business owners can also manage payments remotely.
Tende Pay facilitates various payments through mobile money services, including one-off, recurring, and subscription payments and bulk payments for casual employees or airtime.
The platform generates expenditure reports to help businesses plan their finances better. Mobile money subscriptions in Kenya are widespread, making mobile payments for petty cash feasible.
Kenya faces challenges in SME survival due to financial mismanagement and poor planning. Tende Pay can potentially help save some of these struggling SMEs.
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“Businesses including SMEs remain the backbone of our economy. Now more than ever, it has become more important for SMEs to assess how to best digitize their businesses which is why we have designed the Tende Pay platform to assist organizations to manage their working capital and improve productivity by digitizing these payments and have visibility over them,” according to Tende Pay SME commercial lead Wangui Njoroge.
