Is Revolutionising Corporate Expenses with AI the Future of FinTech?

Key Takeaways

• Volopay is a fintech company leveraging AI to revolutionise corporate expenses.
• Located in Singapore, this fintech startup aims to make expense reports digital, fast, inclusive, safe, and efficient through an AI-based, real-time expense management system.
• Founded in 2019 by Rajesh Raikwar, and Rajith Shaji, the company seeks to replace traditional methods of expense reporting with fast, streamlined processes.

Traditionally, managing corporate expenses has been a meticulous and time-consuming process. It often involved manual handling of paperwork, processing receipts and expense reports, maintaining spreadsheets and constant checking and cross-referencing. This process was not just draining and inefficient, but also prone to human error. But in the rapidly evolving world of Fintech, this conventional process is being revolutionised – cue, Volopay. Based in Singapore, this fintech startup aims at making corporate expense reports digital, swift, all-embracing and secure.

Founded by Rajesh Raikwar, and Rajith Shaji in 2019, Volopay is on a mission to streamline business spending and automate payables. Employing artificial intelligence, the startup provides a platform that simplifies business expenditures while also offering real-time visibility and control over spending. This not only results in streamlined expense management but also helps businesses keep a pulse on their financial health.

The primary differential that sets Volopay apart from many other fintech firms is its unique approach towards expense management. The company offers an AI-based real-time expense management software, aimed at completely replacing conventional methods like spreadsheets, paper checks and standard reports. The firm, instead, boasts a 10-second expense creation flow, allowing for swift report creation and approval process. Automatic bookkeeping sync and speedy reimbursement payouts are other benefits that add up to make financial management less of an arduous task for businesses.

Another noteworthy facet of Volopay is their customer-centric approach. With an intuitive user interface, the platform makes it easy for everyone in an organization – from an employee seeking reimbursement to a manager approving expenses and the finance team analysing company finances. Simply put, Volopay is innovating in the area of finance by providing companies with a system to manage finances that is not only efficient but also user-friendly.

The future looks promising for Volopay as it continues to transform the future of fintech with its reliance on AI and intuitive technology. Such systems not only streamline processes and increase overall efficiency, but their real-time functioning also helps companies ensure accountability and control over expenses. As their impact grows, Volopay is poised to drive the transition towards smart, AI-enabled finance management systems.

As more businesses recognise the potential of AI in expense management, we expect Volopay to play an even more exemplar role in shaping the future of the Fintech industry. For those interested in learning more, visit Volopay’s website, or follow them on Twitter, Facebook and LinkedIn.