The Challenge

Managing petty cash across 23 hospitals and multiple departments was becoming a logistical nightmare for Medicover’s finance team. Each branch operated with a physical cash float to handle day-to-day operational expenses — from purchasing emergency medical supplies to covering local travel costs. However, this manual system came with significant drawbacks:

• Lack of Real-time Visibility: Head office had no immediate insight into how cash was being used across branches. Expenses were only reported after the fact, often weeks later.
  
  
• Inconsistent Documentation: Expense proofs, such as receipts and bills, were often collected via email or even WhatsApp, leading to data loss, duplication, and errors.
  
  
• Cash Shortages and Delays: Branches frequently ran out of petty cash, delaying critical day-to-day operations until new funds were approved and transferred.
  
  
• Compliance and Audit Risks: With manual logs and fragmented records, audits were painful and time-intensive, and risks of unauthorized or untracked spends were high.
  
  
• Employee Burden: Staff were spending valuable time managing cash, collecting receipts, filling reports, and chasing approvals — instead of focusing on core hospital duties.

The Solution

Medicover implemented Tera’s virtual account and expense automation solution to streamline petty cash and expense management across all locations. This brought an end-to-end transformation to their finance operations:

• Virtual Accounts for Every Branch: Each hospital unit was assigned a dedicated virtual account, making it easy to track branch-level expenses and maintain control without physically handling cash.
  
  
• Scan and Pay via UPI: Employees could now simply scan a QR code and pay using UPI directly from their Tera app-linked wallet — no cash or card needed.
  
  
• User and Department-Level Budgets: Finance teams created predefined budgets and access controls for each department or user, minimizing overspending and misuse.
  
  
• Real-time Spend Monitoring: Tera’s dashboard offered live visibility into every transaction, filtered by branch, department, or user — enabling faster decisions and better oversight.
  
  
• Built-in Approval Workflows: Every expense submission could be routed through a customizable approval chain, ensuring policy compliance and easy documentation.
  
  
• ERP Integration: Seamless integration with Medicover’s native ERP system meant automated data sync, reducing manual effort and errors during reconciliation.
  
  
• OCR for Invoice Capture: Invoices and bills could be captured using Tera’s OCR technology, storing all expense details for audit-readiness and compliance tracking.
  
  

The Results

Tera's implementation at Medicover has resulted in tangible improvements in operational efficiency, control, and visibility:

• ✅ 95% reduction in petty cash disbursement delays — virtual wallets and UPI scan-pay eliminated waiting times
  
  
• ✅ 3x faster reconciliation cycles — automated data sync with ERP and real-time dashboards reduced manual processes
  
  
• ✅ Centralized visibility — finance teams can now monitor all branch-level spending in real-time from a single dashboard
  
  
• ✅ 100% audit readiness — with receipts digitally stored and tagged against every transaction, audits are faster, smoother, and more accurate
  
  
• ✅ Drastic reduction in unauthorized spends — with budget controls and approval workflows in place, every transaction follows policy
  
  
• ✅ Improved employee experience — the mobile app’s intuitive interface and scan-pay system significantly reduced time spent on claims and reports
  
  
• ✅ Zero physical cash handling — reducing risk, fraud, and administrative burden at all levels
  
  

Medicover’s finance team now operates with a higher level of control, efficiency, and confidence — all while freeing up frontline staff to focus on patient care instead of paperwork.

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