Tribal Credit offers digital expense management tool for SMMEs to address economic challenges

Tribal Credit offers digital expense management tool for SMMEs to address economic challenges

- According to fintech Tribal, organizations using its digital platform prepared more internal and real-time financial reports in May 2022.

Dubai: Tribal Credit, a global fintech company, introduced its expense management platform giving its clients in the MENA region greater control over their spending.

According to a study by the International Monetary Fund, SMMEs, including startups, account for over 90% of all businesses in the MENA region. Many of these organisations are looking to adopt new technologies and digitise to effectively adapt to the realities of the post-pandemic world and current macroeconomic challenges.

Digitisation and automating financial operations can help SMMEs avoid financial risks, manage resources efficiently, and make real-time decisions.

By harnessing digital tools, finance teams can control and monitor the use of resources in real time, informing decision-making and allowing them to adapt to changing business conditions in real time.

According to fintech Tribal, organizations using its digital platform prepared more internal and real-time financial reports in May 2022. The development of these reports is one of the top three activities carried out by Tribal clients, along with bank transfers and credit card management.

Amira Fadel, Regional Manager for Tribal MENA, said: "An instrumental factor in the growth of SMMEs is the control and