Efficient Receipt Management For UAE Businesses
Collecting, storing, and otherwise managing receipts is essential to a well-oiled expense reporting machine.
Each receipt serves as confirmation of payment processing between yourself and the customer or vendor. You also need expense and sales receipts to file taxes and maintain your peace of mind.
Unfortunately, while saying receipt management is easy, the whole process itself is daunting. Tracking hundreds, thousands, even millions of employee and customer receipts leaves loopholes for fraud and misreporting.
Physical expense receipts are especially susceptible to being lost, damaged, or fading with time.
Fortunately, there’s a better way to do it: digital receipt management with Pluto.
- Automate more of the expense management process
- Reduce the risk of fraud and inaccuracies
- Create more efficient workflows and financial departments
- And overall streamline modern business operations
While you probably can’t eliminate 100% of paper receipts from your workday, you can still improve your process with an increasingly-digital footprint!
What is Receipt Management?
Receipt management is the process of collecting, tracking, and storing business receipts. This task is usually handled by internal finance teams. Their role involves collecting various receipts, tracking costs in accounting software, and storing these receipts for future reference. Additionally, they may need to manually sort each expense, depending on the system in place.
Why Do You Need It?
- A well-run receipt management protocol is crucial for businesses for several reasons:
1. Simplify Employee Reimbursement Programs: It aids in the smooth operation of reimbursement programs for employees.
2. Track and Report Tax Deductions: It's essential for accurately tracking and reporting tax deductions.
3. Provide Proof during Tax Audits: It serves as necessary documentation during tax audits.
4. Streamline Expense Reports and Budgets: Helps in making expense reports and budgeting more efficient.
5. Combat Internal Fraud and Inauthentic Chargebacks: Plays a key role in preventing fraud and false chargebacks within the company.
6. Avoid Repair or Replacement Costs for Items Under Warranty: Keeps track of receipts necessary for warranty claims, saving costs on repairs or replacements.
7. Calculate and Improve Long-Term Profitability: Receipt management is vital in calculating and enhancing the long-term profitability of a business.
Different types of receipt management systems are in use today, including those for printed receipts, e-receipts, and even handwritten receipts. This diversity can be challenging for businesses, as they need to follow multiple procedures to reconcile their books effectively.
Types of receipt management
Today, there are three basic ways to handle receipts directly:
- Manual receipt management involves handling, tracking, and storing paper receipts
- Digitization receipt management scans physical receipts to digitize the tracking process
- Digital-only receipt management is used for online or digitally generated receipts
While many businesses are moving toward digitization and digital-only receipts, some businesses are stuck in the dark ages. (The kind that involves typing physical receipt information into a digital spreadsheet.)
And as we’ll see below, manual entry strategies come with some…problems.
Difficulties of Manual Receipt Management
1. Easily Lost or Damaged Receipts
Perhaps the most obvious problem with physically tracking expense receipts is that there’s so much that can go wrong. Lost, damaged, or faded receipts make the business expense tracking process that much harder.
Even if the employee who spent the money doesn’t drop their receipt, it’s possible for paperwork to get lost on a desk somewhere. And if you need to find a receipt two years later? Better hope it was filed properly and hasn’t faded completely.
2. Consumes Human Resources
Manual receipt management is an extremely hours-intensive process.
Your financial team has to collect invoices, type their data into your accounting software, and double-check their work. Then, they have to reconcile business expenses against company credit card statements and track down potential instances of fraud or misreporting.
Not only does this require a lot of time, but it also impacts employee productivity. Every hour an accountant spends tracking receipts is an hour of productivity lost elsewhere.
3. Leaves Room for Human Error
Aside from the time and human resource cost, manual receipt management presents the potential for human error. And unlike on the product line or in customer service, every reporting mistake risks an unfavorable tax audit.
Even the simplest receipt management and tracking process involves several steps from collection to reconciliation. Every stage is an opportunity for an employee to get distracted, mistype a name or number, or duplicate entries. In bigger cases, they might even duplicate a payment, costing you more money.
And even if you catch the mistakes before they’re submitted, that’s more human hours wasted double-checking and correcting completed work.
4. Increases Fraud and Misreporting Risk
The risk of fraud is higher in manual receipt management programs, and instances of fraud may be harder to detect. Types of fraud that commonly crop up in expense reporting include:
- Inflated claim amounts
- Claiming personal costs on the business’ dime
- Submitting expense reports twice
- Falsifying “proof” to claim for money that wasn’t spent
Unfortunately, manual receipt management makes these kinds of fraud more likely and difficult to catch. For example, if the employee who authenticates receipts is committing or permitting the fraud, it’s harder to detect until after you’ve lost money.
Over time, even small acts of fraud can have massive financial consequences.
5. Contributes to Employee Dissatisfaction
For many companies, employee reimbursement programs contribute both to the need for manual receipt management – and to employee dissatisfaction.
Think about it. In a modern, tech-savvy business world, why should employees have to pay out of pocket, ever?
Virtual cards and online-based businesses have all but eliminated the need for an employee to front your expenses.
But if you’re still stuck doing manual receipt management, chances are, your employees are still submitting reimbursement tickets. (And grumbling about the time it takes to get paid back.)
And that’s not even touching on the frustration, tedium, and headaches manual receipt management programs cause your high-paid finance teams.
6. Jacks Up Business Costs
Together, all these factors paint a picture of increased business costs.
The time and human resource cost to track, reconcile, and store receipts.
The human and financial cost of detecting and counteracting fraud.
Even the maintenance costs for your printer and filing cabinets.
Every dollar spent on manual receipt management is a dollar sucked from office parties, growth, or your bottom line.
Benefits of Digital Receipt Management
It’s easy to see the costs that manual receipt management impose. Fortunately, there’s a simple solution: digital receipt management.
In short, digital receipt management involves using digital copies of receipts in your expense reporting strategy. Digital smart receipts are easy – simply integrate them into your accounting software and let automation take you away.
But even physical sales receipts can be digitized, Pluto allows you to digitize your receipt very simply - through your phone.
Incorporating such technology means that even paper receipts fold neatly into your overarching digital strategy.
And as you’ll see, the process comes with tons of benefits.
1. Increases Integration Potential
A massive benefit of digital tracking is the sheer integration potential. Most receipt management tools, from receipt scanning devices to receipt tracking software, easily mesh with your existing expense reports system.
From there, you can automate mindless tasks and set up occasional human checks to ensure the system works as intended.
2. Fewer Costly Errors
Another way that a digital receipt management program saves costs is by reducing employee errors. Digital receipts should meld seamlessly into your tracking system – no surprises there.
But even processing physical receipts is cheaper and easier.
With their mobile phones, employees can scan receipts and upload them instantly. From there, Pluto categorizes the information and adds it to the overall report.
While employees may spend a second filling in any blanks, increased automation greatly reduces the risk of input errors.
3. Reduces Risk of Fraud
Less human interference means your financial system is more resilient to fraudulent activities. Pluto improves speed and accuracy while digitizing the receipts.
That leaves fewer opportunities for fraudulent claims.
4. Reduces Clutter
Uploading physical receipts means less physical space is needed for storage. That can save you on storage costs and reduce desktop and file cabinet clutter.
And because everything’s digitally maintained, you’ll still meet or exceed your tax authority’s required financial record storage period.
Not to mention, just finding your records will be easier than ever!
5. Easier Audits
No person or business enjoys tax season. But digital management makes the process at least a little easier.
Because all of your information is stored online, it’s easier to access and export receipts as needed.
When tax time or the dreaded audit comes around, your data will be well-organized and easily accessible.
6. More Efficient Expense Reporting
Traditional receipt management is a costly, time-intensive, error-prone manual process that used to be necessary. With modern tools, businesses can streamline the entire financial structure of their organization.
No more lost receipts or worrying about fraud.
Less time spent inputting and double-checking data, and more time helping your business grow.
All these positive benefits will improve efficiency – and even bring smiles to your accountants’ faces.
7. Faster Reimbursements
Like using a virtual corporate card, digital receipt management speeds up the reimbursement process.
Since everything is tracked and verified electronically, it’s easy to set up an automatic or streamlined reimbursement protocol.
8. Putting Your Eco-Friendly Foot Forward
Lastly, any step your business can take toward going paperless is good news for the environment.
Cutting down fewer trees and reducing printer ink usage are laudable goals that can decrease your environmental footprint.
Not only will you enjoy cost savings, but you’ll feel better about doing business in an increasingly eco-conscious world.
8 Tips for Efficient Receipt Management
Digitizing your receipt management strategy is just the first step toward expense report success. To ensure you’re operating at maximum efficiency, consider the following tips.
1. Use Pluto App
The first step is to get Pluto and start managing your spending digitally.
While you’re moving toward digital efficiency, your vendors aren’t required to follow. Keeping the proper tech on hand ensures you can digitize any paper receipts that come your way.
Pluto allows you to take a picture of the receipt, upload it to your expense and just like that the reconciliation process is done!
2. Save Your Receipts
While you can set up secure digital folders to store all your digital originals and copies - Pluto does that for you!
Just take a picture of the receipt, upload it to the app and that is it.
3. Ensure High-Quality Digital Format Uploads
There’s no point in uploading and saving documents if you can’t read them.
Before tossing your physical copies, make sure you can clearly read the essential information on each receipt. (Such as the company name, date, purchased item(s), and amount.)
4. Categorize Submitted Expenses
Take some time to categorize your expenses (most businesses do this in chronological order). Pluto helps you with that, but just make sure to check the right category so the reporting stays in top notch condition.
5. Set Up a Simple Expense Report Strategy
Expense reporting is the backbone of any business’ financials. For prompt, complete reporting and tracking, ensure that you design a straightforward strategy.
Same-day submissions, fewer Excel sheets, and faster reimbursement protocols will improve efficiency and attitudes. Better yet, invest in a quality expense and receipt management software.
Or even better - start with Pluto, we have a free package. It will allow you to completely digitize and control your spending, while keeping your reporting in the best possible shape.
6. Establish Accountability
A top-notch expense reporting strategy only works if people use it.
To ensure your protocols are followed, emphasize and encourage accountability. Keep all managers and supervisors up-to-date with company spending and card policies and remind them to disseminate that information appropriately. Follow up with employee expenditures as needed.
7. Run Regular Internal Audits
Regular expense report audits help businesses track receipts fraud, clear up discrepancies, and streamline inefficiencies.
Take time each month or quarter to check for fictitious or overblown expenses or troubles with your expense reporting strategy.
Pluto allows you to run real-time reports at any given moment for any period of time.
8. Switch to Virtual Corporate Cards
Virtual corporate cards make managing receipt tracking even easier. Not only can you digitize the entire process end-to-end, but corporate p cards give you greater control over your expenditures and tracking.
Sure, you can’t prevent vendors from handing you physical receipts. But you can greatly minimize instances of employees walking in with a big stack of thermal paper to scan in.
Pluto offers unlimited virtual cards which will book all your expenses right into the dashboard!
Key Takeaways
- Proper receipt management is key to running a financially successful business.
- While manual receipt management reconciles physical copies, it’s increasingly unnecessary in an increasingly digital world.
- Digital receipt management simplifies the collection, reconciliation, and storage process.
- Digital tracking also reduces fraud potential, time and financial waste, and increases employee satisfaction.
- Digitizing your expense reports pairs nicely with digitizing your own payments with virtual corporate cards.
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•
Mohammed Ridwan
A Guide to Improve Internal Control Over Financial Reporting
Internal control over financial reporting (ICFR) refers to the legal obligation of a company to provide accurate financial statements. It requires you to adopt policies and processes that show the true picture of the company's finances. This involves:
- Avoiding errors, fraud, or omissions
- Meeting deadlines
- Reviewing statements regularly.
An example of ICFR is inventory control, which involves maintaining accurate records of the company's goods. This requires adopting practices such as:
- Maintaining documents, such as receipts, shipments, and adjustments
- Segregating duties to different individuals or teams for handling, recording, and verifying inventory
- Matching physical inventory counts with recorded inventory levels
- Valuing inventory in accordance with generally accepted accounting principles (GAAP) principles, such as FIFO, LIFO, or the weighted average method.
These practices minimize the risk of inventory discrepancies and enhance the accuracy of financial statements.
What is the Purpose of ICFR?
ICFR is mandatory as per the Foreign Corrupt Practices Act (FCPA) of 1977 and the Sarbanes-Oxley Act (SOX) of 2002.
FCPA requires public companies to establish and maintain accounting controls. This reasonably ensures that financial statements comply with GAAP.
SOX takes this a step ahead and mandates public companies to assess the effectiveness of ICFR efforts and share the results with the public. Additionally, it demands large companies to get independent auditors for the evaluation.
Why is Internal Control Over Financial Reporting Important?
ICFR’s purpose is not restricted to being a statutory obligation. Here are five reasons why ICFR should be on your priority list:
Accurate Financial Statements
ICFR ensures accurate financial statements that reflect the company's financial position and performance. Such reports enable investors, creditors, and internal management to make informed decisions.
Error Reduction
ICFR emphasizes the use of automation, standardized procedures, and clear documentation. This reduces the risk of errors due to human oversight, saving time and resources.
Preventing Fraud and Misconduct
ICFR employs strategies such as segregation of duties, multiple approvals, and regular audits. This reduces the chances of oversight and ensures employees do not engage in fraudulent activities.
Reliability
Stakeholders (including investors and creditors) rely on financial reports to assess a company's performance. Effective ICFR policies build confidence in the company's financial reports.
Avoiding Costly Errors
ICFR detects errors and discrepancies before they can escalate into expensive matters. This saves significant expenses and protects its long-term viability. For example, identifying accounting errors eliminates the need for financial restatements.
What are the Components of Internal Control Over Financial Reporting?
There are five main components of internal control over financial reporting. These are defined by the Committee on Sponsoring Organizations (COSO) of the Treadway Commission.
These five components are also known as the COSO framework.
Control Environment
The control environment includes the organization's standards, processes, structures, and values. It comprises:
- Ethical values of the organization
- Organizational structure and authority workflow
- Processes to build a competent team
- Focus on performance measurement, incentives and rewards.
These elements create an environment that fosters internal control in the organization.
Risk Assessment
Risk assessment is an agile process for identifying and assessing risks. It involves:
- Identification of potential risks that impact the ICFR efforts. This includes both internal and external risks.
- Evaluation of the potential impact of identified risks. Some risks have a higher likelihood and a greater impact than others.
For instance, an internal risk could be employees intentionally inflating their expense reports to receive higher reimbursements. The potential impact will be financial misstatements if the risk goes undetected.
Control Activities
Control activities refer to the plan of action to address the risks identified during risk assessment. This requires establishing specific policies and procedures, such as:
- Segregation of duties to prevent fraud and collusion
- Controls in information security, application development, and system maintenance
- Implementation of entity-level controls, such as reviewing differences between planned budget and expenditure
- Employing preventive control, such as limited access to IT systems and automated approvals
- Using detective control to identify misstatements via reconciliations and management review controls
One such example would be accounts payable automation to eliminate manual data entry. For instance, an OCR-based automation tool will improve receipt retrieval if there are recurring manual errors.
Information and Communication
Information and communication ensure that key stakeholders know their roles and responsibilities. It involves:
- Defining expectations from each stakeholder in the financial reporting process
- Educating employees on ICFR policies, procedures, and compliance requirements
- Providing channels for reporting concerns and issues related to ICFR.
An example would be communicating reimbursement policies to manage company spending. These rules set clear limits and expectations for employees.
Hence, if the policy says entry-level employees can't claim travel expenses, they should not submit such expenses for reimbursement.
Monitoring Activities
Monitoring activities involve regular review of financial controls and processes to identify and rectify issues. It includes the following steps:
- Review expense reports, receipts, and other data to verify the accuracy.
- Test sample data to ensure that controls are operating as intended.
- Detect unusual patterns or anomalies in the data.
- Verify that employees are following established policies and procedures.
One such example would be reviewing travel expense reports as a part of expense management. It involves verifying receipts and approval compliance. Any detected exceptions trigger investigations and corrective actions.
A Better Way to Manage Internal Control Over Financial Reporting
Setting effective policies for ICFR requires financial data visibility and proper reconciliation processes. Hence, achieving this demands more than policies and procedures.
You need software to support operational efficiency transformation. Here is how Pluto offers a helping hand to get better control over your ICFR efforts:
Seamless Financial Reporting
Pluto generates detailed financial reports, providing more accurate and effective financial reporting. You can automate the process of data entry with OCR-based receipt capture. This reduces the manual errors and ensures accuracy.
A multi-layer approval workflow ensures that financial transactions are reviewed and authorized on time. This helps you comply with company policies, enhancing control and accuracy.
The seamless integration with accounting software provides real-time data sync. This keeps the data up-to-date, enabling faster report generation.
Simplify Financial Audit
Pluto centralizes financial data, enhancing auditing capabilities.
Document management becomes simple with the easy uploading and retrieving of financial records. You can bulk download all audit logs and supporting files in a single click. This eliminates the time-consuming task of searching for and gathering individual paperwork.
Pluto's automated systems keep expense records for all financial transactions. As a result, auditors can trace every step of the transaction, ensuring transparency and accuracy.
With end-to-end encryption, Pluto meets bank-grade security standards to safeguard sensitive financial information. This ensures the safety and easy accessibility of financial data.
Accounts Payable Automations
Pluto automates the accounts payable (AP) process to simplify procurement and payments. From purchase request (PR) to goods received notes (GRN) matching, you can streamline the entire AP process.
Multi-layer approval workflows accelerate purchase requests and approvals. The purchase order (PO) process becomes faster with custom workflows and ERP integration.
Pluto automates the entire invoice management process. OCR technology makes it easy to capture and auto-fill invoice details, ensuring accuracy and speed.
Pluto's cash flow management features provide alerts for upcoming payments. This enables you to schedule payments and avoid penalties.
Budget Control
Pluto enables budget control by facilitating spending limits and approval workflows.
Not only can you decide the limit for corporate cards, but also reject an expense if it goes against company policies. In contrast, you can also approve the spending limit for legitimate expenses.
This ensures that employees adhere to predefined budgets. Moreover, this gives your finance teams immediate visibility into spending against budgeted amounts.
ERP Integration
Pluto's ERP integration streamlines vendor management and fosters an efficient control environment.
It imports vendor lists from your ERP and exports them back. This reduces data discrepancies and duplicates, leading to data consistency.
Pluto's dashboard further makes tracking invoices and payments straightforward. This simplifies the payment and reconciliation process, preventing any errors.
Expense Management
Pluto automates and simplifies expense management processes.
Each expense prompts a WhatsApp notification for employees to upload receipts. Administrators and managers also receive notifications to approve expenses. Approved expenses get reimbursed immediately to employees' bank accounts.
This seamless approval workflow ensures proper control and accurate financial reporting.
Go Beyond Statutory Obligations
ICFR is not just a legal compliance. It is a practice to ensure financial visibility and control. While implementing policies and procedures is the main focus, finding the right tools to support your journey will make the process easier.
Pluto automates your financial processes to reduce manual errors and accelerate reconciliation. You close books 10X faster with more confidence.
Book a demo today, and see how Pluto gives you better control and visibility from day one!
•
Leen Shami
What is Pluto Card?
What is Pluto Card?
At Pluto, we believe better expense management should be within everyone's reach. We solve MENA finance teams' pain points by replacing their business credit cards with Pluto corporate cards to help manage their expenses, saving them time and money.
How do we do that?
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Create Unlimited Corporate Cards
When multiple employees have access to one company credit card, it can be difficult for finance teams and business owners to track how much is being spent and where.
The result: everyone texting the CEO or CFO for OTPs during important meetings.
Pluto makes it easy to create and distribute virtual and physical corporate cards to each employee. Not only does this minimize fraud risk, but it also makes expense tracking simpler for finance teams, CFOs, and CEOs.
With Pluto’s unlimited corporate cards, you’ll be able to:
- Create virtual cards in seconds.
- Receive physical cards in 1-2 days.
- Use cards for vendor-specific cases.
- Assign every employee a budgeted corporate card.
Spend Control
Are you running ads at a cost that exceeds your marketing budget? Are you providing new hires with an allowance to cover the costs of their office equipment and software, or do you offer employees additional perks such as a monthly gym stipend?
Pluto gives you the ability to set limits and take control of your company’s business expenses, hassle-free.
With Pluto’s all-in-one expense management platform, you’ll be able to:
- Assign virtual or physical cards with spend limits.
- Allocate a specific budget towards daily, weekly, or monthly expenditures.
- Create a single-use purchase card that automatically deactivates once it is used.
- Control spending for different departments by allotting a budgeted amount to be spent.
Goodbye overspending 👋🏼
Reimburse In Record Time
Reimbursements can be a painful process when the end of the month rolls in. Whether you’re scrambling to find lost receipts, trying to match receipts to their expenses, or organizing them in a document, there’s no easy way.
Drag & drop receipts
Pluto makes it easy for employees to list receipts.
Once a business expense is made by an employee, they’ll be able to drag & drop an image or screenshot of the receipt onto the Pluto dashboard.
Yes, as simple as that.
Easily reconcile receipts
Pluto allows you to seamlessly submit your receipts onto the platform. With Pluto, reconciliation is a breeze.
Once a business expense is made:
- Attach receipts to card transactions with just a few clicks.
- Transactions will automatically be categorized.
Add a memo to every transaction.
Get reimbursed in minutes
Waiting till the end of the month to get reimbursed for out-of-pocket business expenses is no longer necessary!
Pluto gives you the opportunity to get reimbursed in minutes.
Once a reimbursable out-of-pocket expense is made, head to the Pluto dashboard to log the expense and get reimbursed as soon as it is approved.
Get Real-Time Data
Your month-end expense report comes in—and you find that you've spent more money than budgeted. Again.
With Pluto, you can stay on top of your expenses at any given moment.
By getting real-time data, you can view reports of your company’s spending and ensure that your company’s finances are in check.
It's simple, Pluto helps you avoid overspending and keep track of your company's finances in real-time.
So what does this mean for you?
- See transactions happening on your cards in real time.
- Receive notifications about every single card transaction, if needed.
- Collect information on which vendors your company is spending the most money with.
- Identify which employees or departments are spending the most.
- Get an overview of the expenses you have incurred daily or month-to-month.
Pluto allows you to adjust if spending has gone off course—and plop some celebratory balloons if it hasn't 🎊!
Integrate With Other Platforms
Every business has multiple platforms, and we know how important it is for them to talk to each other. Pluto's integrations make it easy to get started and ensure you have all the data you need in one place.
Accounting Integration
Pluto syncs your company's transactional data to the most popular accounting platforms through direct integrations so you can automate your accounting and close books faster.
No more end-of-month mayhem! 😅
Mobile Wallet Integration
With Pluto, you can add your virtual or physical cards to your digital wallet to make transactions seamless and easy.
We support Google Pay, Android Pay, and Samsung Pay.
What Else Does Pluto Offer?
Pluto gives you the opportunity to scale your business, without having to worry about the smaller details.
No FX Fees
Pluto doesn't charge you any foreign transaction fees for using your Pluto corporate card outside of the UAE.
If your business is expanding rapidly and your team is traveling more frequently, you won't have to worry about those pesky charges eating into your profits.
Or if your company needs to pay for subscriptions, contractors, or freelancers in a different country, you can do so without racking up a bill in FX fees.
Remote teams, frequent flyers, or big spenders, we've got you covered!
Accepted Worldwide
Whether your team is distributed, travels a lot, or makes international payments, Pluto’s corporate cards are accepted worldwide.
Advanced Security & Privacy
Pluto is PCI DSS Compliant. We take the safety of your information very seriously; all your data is stored and processed following the highest data protection standards in the industry.
Get Started in Minutes
Pluto's sign-up process takes minutes, not hours. By adopting a KYB and KYC process that can be done within a few clicks, you’ll be making transactions in no time.
- Simple application process.
- No credit history is required.
- Fast approvals.
- Instant card access once approved.
Let us take the hassle out of managing your expenses. Start Using Pluto Today - For Free.
•
Mohammed Ridwan
Pluto Wins Big at the MENA Fintech Awards
The MENA Fintech Awards, a prestigious event within the financial technology industry, recently celebrated the most innovative and impactful solutions in the sector.
We at Pluto are thrilled to announce that our company has been honoured with the 'Best Corporate Solution' award! This recognition is a testament to our team's hard work, dedication, and innovative approach in the fintech space.
Our co-founders, having spent a considerable part of their lives in the UAE. Working within the fintech sector, identified a significant gap in the region's finance sector. They observed that the tools, platforms, and software available to CFOs and finance teams were not only outdated but also overly complex, hindering efficient financial management.
With Pluto, they embarked on a mission to develop a software solution that would change how mid to enterprise level businesses handled their finances.
The MENA Fintech Awards, organised in collaboration with the MENA Fintech Association, are designed to recognize excellence and innovation in financial technology. These awards are a highlight of the Abu Dhabi Finance Week (ADFinanceWeek), an event that fosters innovation and growth in the fintech sector. The 'Best Corporate Solution' category, in which we were victorious, emphasises practical, innovative solutions that address significant corporate financial challenges.
Our award-winning solution, the Pluto Card, addresses various corporate financial management needs. It offers features like employee reimbursements, petty cash management, and an efficient account payable cycle, along with robust accounting integrations.
Winning the 'Best Corporate Solution' award at the MENA Fintech Awards is not just an honor but also a motivation for our future endeavours. We are excited about our upcoming initiatives, which include further enhancements to the Pluto Card and expanding our market reach to serve more businesses globally.
We extend our deepest gratitude to the organisers of the MENA Fintech Awards and ADFinanceWeek, the judges for recognizing our efforts, and most importantly, our dedicated team and loyal customers. Your support and trust in our solution have been invaluable!
© Pluto Card is a Pluto Financial Services Inc. company 2024
The product and services mentioned on this webpage belong to Pluto Technologies Ltd (Pluto), a company incorporated under the laws of Dubai International Financial Centre (DIFC), Dubai holding commercial license number CL5294. Pluto is a financial technology provider and not a bank. Pluto provides certain facilities for the utilization of payment services through Nymcard Payment Services LLC under the applicable payment network and Bank Identification Number Sponsorship of Mashreq Bank PSC. This is pursuant to the license by Visa® Inc and is available for the residents of UAE subject to Terms and Conditions of use