One of our top clients, Quant, a leading provider of innovative data analytics, business intelligence, and AI solutions in the Kingdom, faced significant challenges in their financial operations. This case study explores how Quant partnered with Nqoodlet to overcome these challenges and achieve remarkable results.
At Nqoodlet, our mission is to revolutionize financial operations for businesses by providing innovative fintech solutions. We take pride in our ability to help companies streamline their processes, save time, and enhance their financial management.
Before Nqoodlet
- Financial operations were manual
- High error rates in reports
- Use of personal cards by employees
- Difficulty in preparing reports
- Requesting account statements from employees
- Challenges with online payments
- High operational costs
After Nqoodlet
- Automation of operations, reducing time by 50%
- Error reduction by 40%
- Easy issuance of dedicated cards for each user
- Clear, categorized reports by department
- Instant visibility of all transactions
- Globally accepted cards with multi-currency
- Cost reduction by 20%
Challenges That Quant Faced
- Petty cash errors
Petty cash was unorganized and prone to mistakes and duplication
- Use of personal cards
Managers and employees relied on their personal cards, leading to weak control
- Manual operations
Manual work consumed a lot of time and increased error rates
- Transaction tracking
The need to collect bank statements from employees to track expenses
- Preparing reports
Preparing financial reports for each department was complex and unclear
- Spending limits
Bank card limits affected the speed of executing payments
“The best feature is easily creating users issuing cards in multiple currencies with no issues. I love the experience! Nqoodlet provides clear expense overviews and department categorization on one page, tracking vendors and costs month over month. It’s organized and has solved many of our problems.”
- Dana Abu Shammala - Senior Accountan at Quant
The Solution Provided by Nqoodlet
- Multi-Currency Management
Quant was able to handle multiple currencies, such as SAR and USD
- Simplifying Online Payments
Nqoodlet solved issues with rejected transactions and ensuring continuity of financial operations
- Finance Team Training
Nqoodlet provided practical training sessions for Quant’s finance team
- Improved Financial Reporting
Nqoodlet enabled the preparation of accurate and fast financial reports
- Visibility and Control Over Expenses
A clear dashboard provided full visibility of expenses
- Issuing Multiple Cards for Users
Nqoodlet enabled user creation and dedicated cards for each department or employee
Results
Measurable Financial Impact in Less Time
Full Visibility
Clear and direct visibility into department and employee expenses became available
Reducing Errors
The error rate in financial reports decreased by 40%
Automating Operations
Reducing the time spent on operational tasks by up to 50% and increasing the efficiency of the finance team
Ready for Greater Scale & Growth
Expense management became more flexible and organized , enabling the company to scale confidently
Lower Operating Costs
Operating costs were reduced by 20%, while improving spending efficiency
“Nqoodlet has truly streamlined our financial management, allowing us to scale our operations without the typical bottlenecks of manual processes.
The ability to manage expenses seamlessly across departments and currencies has been invaluable. Their platform has not only saved us time but has also improved the accuracy of our financial reporting, giving us the insights we need to make quicker, data-driven decisions.”
- Ahmed Bukhamseen - Quant CEO
How Nqoodlet Helps Data Analytics, AI, and Tech Companies
Smart Card & User Management
Nqoodlet enables companies to issue multiple cards for employees with predefined budget limits
Real-Time
Nqoodlet provides a centralized dashboard that shows expenses categorized by department or project in real time
Reducing Manual Work
Nqoodlet transforms financial operations from manual processes into an automated system
Faster, More Accurate Financial Reconciliation
Nqoodlet provides clear, continuously updated financial reports, improving data accuracy and reducing errors
Support Multiple Currencies
Nqoodlet supports global digital payments and multiple currencies, making it easier to pay for subscriptions and international services without restrictions
Conclusion
The collaboration between Quant and Nqoodlet demonstrated the value of innovative fintech solutions in transforming financial operations into a simpler and more efficient process. By addressing their challenges with a tailored solution, Quant achieved significant gains, including higher efficiency, improved accuracy, and cost savings.
It is time to upgrade how your company manages expenses.
Learn how Nqoodlet can help your business optimize financial operations and achieve similar results.
