StashAway is a digital wealth management platform headquartered in Singapore, and operating in Malaysia, MENA, and Hong Kong. StashAway helps its clients build and manage their wealth for the long term.
With employees around the globe, StashAway's finance department faced difficulty tracking employee expenses, processing employee reimbursements, and eliminating repetitive work.
Zoho Expense's ability to integrate with other accounting software, ease of use, advanced customization, and round-the-clock customer support made expense reporting effortless.
Handling expense and receipt verification in Zoho Expense has resulted in an improved audit process, faster reimbursements, and seamless accounting of expenses.
StashAway is a digital wealth management platform headquartered in Singapore, and operating in Malaysia, MENA, and Hong Kong. "What StashAway does is help individual clients build and manage their wealth for the long term. Being in the business for about five years, StashAway also has operations in Hong Kong, Malaysia, Thailand, and the Middle East," says Amanda Ong, Country Manager for StashAway Singapore.
"Zoho came out ahead relative to other providers we were looking at in our two key consideration factors: the ability to customize the solution and ensuring that it was a tech-first solution."
With a distributed regional team, StashAway was seeking a platform to automate and simplify the employee expense claim process. They wanted to provide efficient reimbursement of employee expenses, as well as reduce repetitive workloads for their central finance team.
Employee expenses is an operational process handled by most finance teams, but with Zoho Expense, this process could now be automated, freeing up time for more strategic tasks.
In searching for an expense solution, StashAway prioritised customization and customer support. With distributed teams, there were a number of requirements for different expenses that had to be managed by the system, and this was a key challenge that Zoho Expense was able to address. Amanda notes, "In our selection process we evaluated multiple vendors before going with any provider. Zoho came out ahead relative to other providers we were looking at in our two key consideration factors:the ability to customize the solution and ensuring that it was a tech-first solution.
For Zoho Expense, there are integrations with many accounting solutions, which makes the work of our accounting team a lot easier, when it comes to tracking and reimbursing employee expenses. Going back to customization, we were able to get the app to work in many ways to meet our requirements—for example, users were able to create different rules for different use cases. The last thing is that the customer support team is great. If there are any issues, from employees as well as the admin team, we get replies very quickly and the issue is resolved promptly."
"Typically employees will create a claim on Expense, which they can do themselves very easily, and Zoho automatically generates a report on the 10th of each month, with the manager getting reminded to approve it. Once that happens, it gets pushed to our backend system and processed by our admin team."
"One thing we really liked is that Zoho has a very tech-first approach—user experience wise it was really intuitive so it was easy for our employees to get started using it. It also makes it possible for our admin team to no longer be bogged down by mundane tasks like following up and verifying receipts. Even following up with managers for approvals is easy, now that Expense ensures this entire process is automated," says Amanda.
In addition, as all expenses are digitalised through Zoho Expense, this also greatly improves the audit process. Amanda notes, "We also wanted to create a process that could be easily audited and checked which we could do with Zoho Expense."
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