The Challenge:
Managing expenses across departments was increasingly difficult. Manual reimbursement processes led to delays, lack of visibility, and compliance issues. Petty cash handling for travel, office supplies, and operational expenses created risks, lacked tracking, and often exceeded budgets.
The Solution:
Rishaba adopted Tera’s Spend Management Solution featuring UPI & prepaid cards to digitize and automate their expense workflows. With budgeted prepaid cards issued to admin staff and traveling employees, the company replaced cash disbursements with secure, traceable digital spends.
Tera enabled:
- Controlled fund allocation with card-level budgets
- Automated receipt capture & real-time expense visibility
- Quick reimbursements through UPI linked wallets
- Policy enforcement and flagging of non-compliant spends
Impact:
With Tera, Rishaba Industries achieved:
Spend & Usage Metrics
- 30% reduction in unauthorized spends
- Real-time spend visibility across departments
- Streamlined allocation of admin and travel budgets
Efficiency Metrics
- 60% reduction in reimbursement turnaround time
- Expense approval time cut from 3 days to 1
- Card utilization rates improved to 85%
Compliance & Control KPIs
- 95% policy compliance rate
- 100% receipt attachment rate via mobile uploads
- Zero unaccounted cash spends since implementation
