Boya, a Kenyan technology company, has launched its virtual expense card in partnership with Visa and Diamond Trust Bank – Kenya, which will help businesses to manage payments and expenses with one virtual card solution.
The Boya platform is designed to streamline and revolutionize expense tracking and reporting for businesses of all sizes with this groundbreaking solution that promises to empower organizations with unparalleled control over their financial operations. Under the partnership, Boya has integrated DTB’s Cards as a service offering into its platform. This integration will enable Boya’s customers to access virtual corporate cards, supported by the Visa card scheme. Through these virtual corporate cards, businesses can efficiently track, manage, and reconcile company expenses, streamlining financial processes and promoting financial transparency.
Speaking during the launch, Boya Chief Executive Officer Alphas Sinja said, “We are excited to introduce our cutting-edge Virtual Card Expense Management solution to Kenyan businesses. Our aim is 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.”
“In today’s fast-paced digital landscape, traditional expense management processes often fall short in meeting the demands of modern businesses. Cumbersome paperwork, manual reconciliation, and time-consuming expense reporting can hinder productivity and impede financial visibility. Recognizing these challenges, Boya has developed an advanced virtual card solution designed to streamline and simplify expense management,” he added
DTB’s Group CEO and Managing Director, Nasim Devji, highlighted the significance of this partnership, stating, “Today, we embark on an exciting journey with Boya, where innovation and collaboration will drive real change in the realm of financial services. Our goal is to accelerate the development of innovative fintech products and services by serving as the link between banking and technology. This collaboration will give the customers access to personalized, secure, and user-friendly financial solutions, and position us at the forefront of the industry,”
The Boya platform is a comprehensive, cloud-based platform that simplifies and automates the entire expense management process. With a user-friendly interface and advanced features, businesses can now effortlessly manage expenses, improve financial visibility, and drive significant cost savings.
Key features of the expense management solution include:
- Easy Expense Tracking: The solution enables users to capture and categorize expenses in real time, using both mobile and web applications. With customizable expense categories, transactions are automatically recorded when a payment happens, and users can attach receipts and add notes instantly.
- Seamless Approvals: Businesses can establish robust approval workflows tailored to their organizational structure. Approvers can review, comment, and approve expenses with a few clicks, ensuring compliance and minimizing delays.
- Powerful Reporting: The solution offers in-depth reporting capabilities, providing businesses with valuable insights into spending patterns, budget allocation, and cost-saving opportunities. Customizable reports can be generated to meet specific requirements, facilitating 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, ensuring adherence to company guidelines and compliance with regulations.
- Mobile Accessibility: The solution boasts a mobile app compatible with both iOS and Android devices, empowering users to manage expenses on the go. This convenient feature enables employees to make payments, track expenses and approve transactions anytime, anywhere.