Keyper eliminates petty cash spending with Pluto

Keyper is a leader in PropTech innovation in UAE. In this article, we talk about Keyper’s innovative model & how they leveraged Pluto to get to optimal spend management. Gabriel García Leyva shares his insights. 

Always at the end of this month we used to get these huge groups of receipts to process… but now that we have a system that allows us to process in real time ahead of the month end everything becomes more powerful and controlled for the team

Gabriel García Leyva

Introduction 

Positioned at the crossroads of proptech and fintech, Keyper has emerged as a disruptor in the Dubai real estate sector. Their flagship product, "Rent Now Pay Later," gives tenants the flexibility to pay their rent in monthly installments via credit card. In contrast, with “Upfront Rent” landlords get their annual rent in a single upfront payment. This dynamic model is supported by Keyper's advanced property management team, duly licensed by the Dubai Land Department.

An article published by Gulf News states a quote from Omar Abu Innab, co-founder & CEO of Keyper:

“Traditional check payments are outdated, prone to errors, and do not provide a good user experience for tenants or landlords. We designed our RNPL service to address these pain points and to enable customers, tenants and landlords, to better manage their finances with ease.”

This innovative model positions Keyper as a leader in proptech innovation.

The Challenges: Keeping Up with Keyper’s Growth & Pace of Innovation

While Keyper was scaling and evolving, there was a pressing need to have a robust system in place that could offer real-time tracking and insights into their financial operations.

Operational efficiency is the backbone of modern businesses, especially in rapidly evolving sectors like Property Technology. For Keyper, the challenge was fourfold:

• Efficiently handling and tracking petty cash without manual intervention.
• Ensuring transparent, accountable, and secure usage of corporate cards.
• Efficiently managing recurring subscriptions spending. 
• Effectively managing receipts & reducing time spent by finance teams on manual work. 

Handling and tracking petty cash expenses is difficult 

In our recent article on Managing Petty Cash in UAE, Guide & Tips we had shared how difficult it is to track and manage petty cash spending. 

Historically, businesses in UAE have used petty cash vouchers to keep track of their cash expenses. This was an extremely time consuming process. When you multiply these spends across multiple teams and departments, this manual process quickly eats up a large part of the months work days, is prone to errors and creates challenges in maintaining auditability. 

Gabriel also shed light on the same. He candidly shared the struggles of "counting every single receipt," emphasizing the universal sentiment that "everyone despises the petty cash process." This tedious task, prone to discrepancies and human error, was a bottleneck Keyper was keen to address.

The solution: Pluto’s petty cash digitization

Keyper found the answer in Pluto’s petty cash management solutions. Pluto eliminated the need for traditional, manual, and often error-prone petty cash systems, automating the entire process. The platform enabled real-time tracking and accountability for every Dirham across all employees and departments.

Through the integration of automation, the daily tasks of the employees & accounting team weren transformed, reducing manual efforts and elevating their work experience.

The company is now very self-efficient in managing finances across teams.. ..The receipts tracking on all of that is is now very seamlessly managed, the WhatsApp based receipt collector is super popular

Gabriel García Leyva

Recurring subscriptions need careful control

Another common financial issue that most companies face is associated with several recurring subscriptions. Companies often do not know the exact number and cost of these subscriptions and if these costs are growing with time. This lack of visibility can lead to unnecessary expenses and difficulty in managing the company's budget effectively. Companies typically use one corporate card and have all subscriptions on it without any specific limits set. This leads to uninformed increases in price of subscriptions, multiple spend across departments and more avoidable problems.

This was another huge challenge faced by Keyper.

The solution: Pluto’s smart corporate cards

With Pluto's smart budget enforced corporate cards, Keyper gained better control over recurring subscriptions. 

They were able to set specific limits for each subscription, ensuring that costs were managed effectively and  uninformed increases in prices were prevented. This helped Keyper optimize their budget and streamline their expense management process.

Pluto saves finance teams time as well as money

With Pluto's corporate cards and petty cash management solutions, Keyper has been able to give back their finance team 15+ hours every month. In addition, Pluto’s smart alerts managed to save them thousands of dollars in two different ways—by automatically rejecting unintended increases in seats across subscriptions as well as unlocking free subscriptions via complementary perks. 

What has been your favorite part about Pluto? 

For us, the main benefit of Pluto is that we don't have to think about petty cash and worry about spending at all. It runs on Autopilot and Pluto prompts us when it needs attention, so we can better focus on our core competency without the extra mental load. Another huge selling point has been the incredible customer support across the board. Everyone on the Pluto team has been extremely helpful through any questions we had.

Gabriel García Leyva