Xpensio announces official launch of its fintech app, the 'smartest digital expense management solution for businesses' in the region
SINGAPORE, Oct. 1, 2019 /PRNewswire/ -- Financial technology company Xpensio has announced the official launch of its comprehensive expense management solutions for businesses in Singapore and, soon, the Philippines. In a press conference, Xpensio Chief Executive Officer, Vanessa Liwanag, and Chief Technical Officer/Co-founder Jerick Coneras, proudly unveiled the game-changing app that shares the same name as its company, as 'the smartest' among all the expense management systems available in the region today.
"The idea for the xpensio app was born out of our sheer frustrations when we were still working separately as employees, managers, and officers," Liwanag said. "That was where our commonality lied: In recognizing the burden of employees every filing season. Most businesses do not realize that filing and processing company expenses take so much time and effort from the organization. This manual labour takes away valuable energy that could be better off used on high-value, high-yield tasks at hand," Coneras added.
The new Xpensio solution is set to change all this by digitizing the manual nature of filing and reporting. Through this smart app, managing company expenses, team budgets and staff claims, and setting approval and tracking flows for purchase requests and procurements will now be easier and more hassle-free, thanks in part to the utilization of smart debit cards powered by MatchMove, the developer of Asia's leading Banking-as-a-Service platform.
Mr. Kumar Srinivasan, CEO, MatchMove Dynamic said "We are extremely pleased to partner with Xpensio for their launch of expense management solutions powered by MatchMove's smart digital payment solutions. This service will allow complete customization of the payment management system making it easier for the user. We are looking forward to working with Xpensio for this".
The xpensio system allows companies full customization and control of the payment management system, according to how it fits their business needs. Managers can predetermine rules and automate approval processes and other internal processes such as payment card creation, setting spending authority and limits, as well as channelling of funds disbursements, all on a single platform.
Employees are also empowered through the app, as individual team members can receive his/her own physical and/or virtual payment cards, stipulated for different card uses and limits to eliminate unauthorized expenditure and overspending. These cards can be used anywhere in the world where major cards are accepted.
Liwanag added, "If you look at it from another perspective, you can say that the xpensio solution is also environment-friendly. Xpensio tries to add to the efficiency of any organization, because with our system, there is no longer any need for mounds of paperwork just to track expense claims and liquidations. Companies can finally rest from printing spreadsheet reports just for this facet of a company's operations because everyone in the organization can just use the app to capture receipts. That's how smart xpensio is -- it will automatically match your receipts against the category of your expenses."
In addition to smart matching capabilities of invoices and receipts to payment categories, companies can also have full control and real-time visibility of company spending anytime, instead of having to wait for month-end statements and reports. Finance departments can have a better macro view of the entire spending of the company, thereby avoiding cash allocations for spending deemed unnecessary.
"Xpensio aims to make expense reporting easier and more manageable for all levels of any workforce. It's that straightforward. The magic of it lies in how smart this app operates, and how good of a system it is by being able to empower employees with their individual spending while keeping management in full control of all expenditures. No amount of manual labour can top that," Coneras asserted.
Founded in June 2018, Xpensio is an end-to-end expense management solution leveraging the power of card networks by putting them in control of payment card creation, spending rules, and fund disbursements powered by Mastercard.
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