Any employee that has to travel on behalf of the business knows the trouble of using their personal funds for business travel and then filing for reimbursements.
Lots of paperwork creating expense reports, saving receipts, and lengthy reimbursement times make it a cumbersome process.
Rajith Shaji (Co-founder of Volopay) before 2020 was also one such employee who was frustrated with having his personal funds stuck due to business expenses while traveling between Singapore and India.
He soon realized this was a problem many people faced and started looking for an alternative way to manage business expenses.
Rajith discovered that there weren’t many suitable solutions in the Southeast Asia region and hence decided to solve this problem not just for himself but also for other businesses and their employees.
Rajith partnered with a former colleague – Rajesh Raikwar(Co-founder of Volopay) and started the journey of building Volopay in 2020.
Volopay is a financial solution provider that offers corporate cards, automated expense management, and accounting integrations that streamline financial operations, helping businesses save time and money while elevating the role of their finance teams.
Employees can be given a physical corporate card to manage all their expenses related to business and they can also issue unlimited virtual cards through the online platform.
The expense management function happens through the web platform or mobile app. It allows businesses to track and control the spending of their employees through automated systems. This ensures that while employees get the freedom to spend company budgets rather than their personal funds, it is also monitored and not misused by anyone.
Volopay is obsessed with empowering finance teams, transforming them from simple bookkeepers into strategic assets within organizations. Aspiring to drive change across the APAC region, they aim to become the go-to financial partner for businesses seeking growth and efficiency.
The product has evolved and improved over time but at its core, it will always be a product that helps a business manage its finances in the most efficient way possible.
Apart from the core function of expense management, Volopay’s system is also capable of integrating with many other systems like accounting software and HRMS tools. The product has native integrations with some of the industry-leading accounting tools like Netsuite, Xero, Quickbooks, Tally, Zoho Books, Deskera, MYOB, and more!
This makes the accounting function of business transactions even easier as accountants don’t have to manually record the transactions in the company ledger and instead can just sync and export the data from Volopay’s platform onto their accounting tool.
Volopay’s team includes folks operating from 5 different countries including Singapore, India, Australia, Indonesia, and the Philippines.
This global team started with just a few people and has now expanded to 150+ individuals working towards the same goal. Having a majority remote workforce, they do their best to ensure complete transparency and have unique & innovative employee engagement sessions every week to develop team camaraderie.
Present Growth & Future Plans
Volopay started off in Singapore in 2020 and soon expanded to other regions including Australia, India, and Indonesia.
The company has over 1000 customers who use its platform regularly with its innovative payment tools like corporate cards and a centralized platform to manage, track, and control their business expenses.
Volopay’s future plans are to continue developing our products and services to the best capabilities the industry has to offer.
They also see great potential to enhance the payment and financial management experience for businesses across new markets and continue pushing the boundaries to make choosing Volopay a no-brainer for companies.