Zact is a real time corporate expense management solution. Businesses of all size struggle with implementing a unified, scalable mechanism for accurately reporting, reconciling, and authenticating corporate expenses while providing a satisfactory employee experience and complying with policy and budget constraints. Actual time between transaction payment and expense reporting is often very long (around 60 days in general). This delay favors fraud, error while also restraining appropriate budget monitoring, and ultimately putting business at risk.
Zact developed an end-to-end payment and corporate expense management solution fully integrated into the accounting ecosystem. The payment platform is built around an approval-based and centralized policy that allows controls before the payment is made; thereby ensuring accuracy and adherence to corporate spending priorities and rules.
The seamlessly and full integration with the accounting system prevents reconciliation issue and allows employee expenditures to be reported without delays and latency ensuring better monitoring and transparency.
“We saw a real problem in expense and payment management and wanted to build an end-to-end platform, versus a point-solution that only cured part of the pain,” said serial entrepreneur John Thomas, co-Founder and CEO.
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