Saturday, July 20, 2024

App review : haeywa |A Market Disruptor in Petty Cash Management

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With growing businesses, there is a definite need for better management of petty expenses in the corporate space. Petty cash is a small amount of cash that is kept on the company premises to pay for minor cash needs. Examples of these payments are office supplies, cards, flowers, and so forth. It’s a small but considerable amount as it can potentially become a reason for revenue leakage because of not having a proper system to channel it.

haeywa is an evolutionary model in this space that aims at disrupting the petty cash management industry with its uniquely advanced features.

There are numerous reasons why businesses should consider a systematic and sustainable approach to maintaining their petty cash expenses. One of them is the long and hectic process of reimbursement which can sometimes take nearly a month for any employee to get their money back. Administrators & project managers spend long hours sorting reimbursement bills for employees. While a lot of focus is given by businesses to automate their financial workflows, petty cash or imprest management is an area that is usually ignored. This is because businesses feel that petty cash process automation has a negligible impact on the overall cost of business. Hence, there is a big gap that needs to be bridged. haeywa is a first of its kind solution to bridge this gap within organizations to save cost & above all make operations smooth & hassle free.

Downloading the App & Getting Started
The mobile application is available on Playstore& IOS for free. The application size is optimal and doesn’t impact the phone’s functionality. Once you download the app, you’ll be required to fill in the basic information like your name and contact number. Upon agreeing to the terms & conditions, you will receive an OTP on your mobile number for verification. This makes you ready to create your account.

How does it work?
Once you’re done downloading the mobile application, you’re ready to create your group wherein you can send the invite link to the members from your organization you wish to add to your group.
Create your office group –> Select group type (business or personal) –> Group name → Add funds for your group (optional/you can skip)—> Invite members to join your group—> All Set
Upon completion, group members can spend from the monthly petty cash fund. Later enabling them to upload bills, get them verified by owners and finally being able to reuse the funds. This manages expenses in a group and gives group owners a sense of control, making it even more systematic to use in an office setting.

Key Features of the App:

● Petty Cash on UPI
● Direct scan & pay from the petty cash pool
● Multicast payments, share funds with your team
● Set Spending Limit for all members separately
● Option to make Admin
● Instant Block Payment Feature
● View, Verify, Or Upload Bills
● Know your group’s Carbon Footprint

Loaded with many other features like games and chat, haeywa is also an employee engagement program. It solves petty cash problems and lets employees channel their expenses at work. The app is a perfect way to create a leak-proof revenue system within organizations. With an amalgamation of technology and thoughtfulness, haeywa is created to provide the perfect solution for businesses to manage miscellaneous expenses without having to go through long procedures.

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