NCBA Group and Visa Revolutionize Expense Management With “Visa Spend Clarity” for Kenyan Businesses

In an era where digitization is the cornerstone of progress, the NCBA Group which has over the years proved to be a banking powerhouse in Kenya, has joined forces with Visa to introduce a game-changing tool known as Visa Spend Clarity for Enterprise. This innovative solution is set to redefine expense management for commercial card clients of NCBA, and it’s a significant step towards helping businesses of all sizes streamline their financial processes.

Visa Spend Clarity, a part of Visa Commercial Solutions’ array of products and services, is an online Spend and Expense management platform that promises to bring visibility and control to businesses’ expenses while improving their overhead reporting. The key takeaway here is that this tool empowers companies to optimize resources and enhance cash flow management.

What makes Visa Spend Clarity even more appealing is its accessibility. It’s available as both a user-friendly web interface and a mobile app compatible with both Android and iOS platforms. This versatility ensures that businesses can manage their expenses on the go, no matter where they are.

One of the standout features of Visa Spend Clarity is its adaptability. This tool can be customized according to the specific needs of a company, offering various access levels and enabling different stakeholders within the organization to access relevant reports and data. Furthermore, the data collected can be seamlessly integrated with ERP systems or extracted for upload into accounting platforms, simplifying the financial management process.

For businesses looking to minimize paperwork and digitize their expense management, Visa Spend Clarity offers an elegant solution. It streamlines the expense claim process by making it paperless and incorporates advanced features like Optical Character Recognition (OCR) and receipt uploads with multiple approval levels, ensuring a smooth and efficient workflow.

NCBA Group’s Retail Director, Tirus Mwithiga, expressed his excitement about this development, emphasizing that it’s part of NCBA’s commitment to helping corporate clients manage and track their expenses effectively, ultimately contributing to their business growth.

Eva Ngigi-Sarwari, Visa Kenya Country Manager, highlighted the valuable insights that Visa Spend Clarity can provide, helping businesses make informed decisions about their spending and manage their finances more effectively. This collaboration with NCBA aligns with Visa’s dedication to digitizing processes and providing secure and customizable tools to businesses of all sizes.

The introduction of Visa Spend Clarity is a significant move in NCBA’s strategy to enhance its digital offering by connecting customers to new digital channels. In 2022, NCBA welcomed 146 new corporate customers, resulting in substantial growth in the gross loan book and deposits. The division’s operating profit increased by an impressive 87%, reflecting the positive impact of their digital initiatives.

NCBA Group, with a network of more than 100 branches across Kenya and other African countries, serves over 60 million customers, making it the largest banking group in Africa by customer numbers. NCBA Bank Kenya, a key player in corporate banking, asset finance, and digital banking, is set to play a pivotal role in supporting Africa’s economic ambitions.

LEAVE A COMMENT

Please enter your comment!
Please enter your name here