Zact Launches Integrated Payments and Expense Management Platform

Zact, a Silicon Valley-based Fintech company, has launched its integrated Payments and Expense Management platform. By integrating payments and expenses at a transaction level, the Company automates expense reporting, continuously reconciles expenses and payments, and provides visibility of expenses in accounting systems without delays, freeing employees from these encumbrances.

"We saw a real problem in expense and payment management and wanted to build an end-to-end platform, versus a point-solution that only cured part of the pain," said serial entrepreneur John Thomas, co-Founder and CEO at Zact. "Even medium-sized businesses have enterprise-type complexity in managing their expenses. They deserve a solution that can scale up and down for their needs, without requiring massive amounts of upfront setup costs and high recurring operational costs – both in tool costs and employee time," he added.

Zact Product VP, Jayant Ramchandani hailed Zact's launch as a step-change in the space. He said, "We solved a variety of problems simultaneously with our integration, transaction-level visibility, and pre-spend guardrails. In addition, with our approval workflow-based 'controls before spend' budget, we dispel the notion of a tacit approval to spend and democratize the corporate card to an 'employee card' for all."

The Zact platform represents not only a technological innovation but also a business design win, with no user-fees. For businesses looking to enhance efficiency while saving much-needed capital, Zact's business model is an ideal and salutary corrective to the existing, fee-based marketplace.