Tribal Credit launches digital expense management tool for SMMEs

By Leandra Monteiro

Tribal Credit, a global FinTech company, introduced its expense management platform giving its clients in the MENA region greater control over their spending.

Digitisation and automating financial operations can help SMMEs avoid financial risks, manage resources efficiently, and make real-time decisions. By harnessing digital tools, finance teams can control and monitor the use of resources in real-time, informing decision-making and allowing them to adapt to changing business conditions in real-time.

Amira Fadel, Regional Manager for Tribal MENA said, “An instrumental factor in the growth of SMMEs is the control and monitoring expenses. By automating these processes and analysing data, digital platforms specialised in these areas can greatly improve companies because they provide finance teams with a clear picture of expenditures, allowing them to focus on providing value and creating growth.”

According to FinTech Tribal, organisations using its digital platform prepared more internal and real-time financial reports in May 2022. The development of these reports is one of the top three activities carried out by Tribal clients, along with bank transfers and credit card management.

Effectively monitoring and controlling expenses is integral to a digital transformation strategy as it allows companies to reduce risks and avoid the complications that often come with traditional expense control, such as manual errors, false invoices, and improper use of funds.

However, it can be challenging for many start-ups to access sophisticated digital solutions through traditional banking because they do not meet the required requirements or do not find solutions tailored to their needs. FinTech companies have emerged as an alternative to meet the unique digital and financial needs of start-ups and SMMEs.

Fadel added, “Tribal’s expense control platform makes it possible to maximise efficient use of resources by assigning credit limits for each employee or team in a company. Also, through its value offer, the company offers the possibility for companies to have an unlimited number of corporate credit cards.”

By bringing these digital solutions for expense control to start-ups and SMMEs, Tribal is supporting economic growth in the region by helping companies innovate, integrate, and accelerate into the future. Tribal’s vision is to streamline all financial management processes onto one unified platform to create the most efficient and comprehensive solution for its clients.