Openfloat, a software tool by global payments company Pesapal that can helps businesses to manage their expense payments across multiple channels, recipients, and currencies has commercially launched in Kenya.
The company said the move follows successful pilot phase with Kenyan merchants in retail, hospitality, and transport which showed businesses could cut in half the time taken each month to process their expense payments.
According to Pesapal, Openfloat users will have access to a single digit account to manage salaries, supplier payments, travel expenses, and other bills while also getting the chance to disburse payments via pay bills, tills, mobile numbers, and bank transfers, all from the same account.
“Paper-based expense processes are a minefield for errors and fraud. With Openfloat, businesses can track their spending 24/7 and remotely if they want to. Our design ethos on this, and all our products, is simplicity, accessibility, and affordability,” Pesapal CEO Agosta Liko said.
Openfloat allows approved business managers to customize expense processes with automatic payments, recurring transactions, and alerts for unusual activity. This automation helps drive greater productivity among managers and staff.