Convenient Corporate Finance with

KODO was started with the mission of simplifying corporate finance and helping businesses grow. Through their products and services, KODO envisioned simpler finance control for businesses that could enable them to cut through financial bureaucracy and simplify corporate expenses and approval. By delivering easy access to liquidity and granular financial control mechanisms, KODO aimed to empower businesses and enable their growth.

Technologies Used

Business Requirement

Credit cards are used ubiquitously within corporations to enhance easy spending and expense reimbursement. While most banks offered ‘specialized’ corporate credit cards, these cards only offered paltry bonuses over average credit cards and did nothing to simplify corporate finance.

Further, businesses incurred significant onboarding delays and bureaucratic hurdles with most corporate banks. These cards were not a viable solution due to reasons like

1. Cumbersome processing

Most banks required extensive documentation and lengthy procedures to be followed before issuing a corporate credit card. Corporates, on the other hand, needed hassle-free credit card solutions that allowed seamless disbursal, maintenance, and termination of cards to match the ever-changing needs of employees

2. Lack of control

Corporate cards offered by most banks offered little to no control on expense management. Tracking expenses, approving/rejecting them or deriving cost-saving insights was largely not possible with the limited set of features these cards provided. The result was a complete lack of control over credit card spending

3. Lack of transparency

With traditional credit cards, spend analysis had to be undertaken manually. The finance department spent a significant amount of time in expense tracking, approvals, and analysis. These manual efforts also led to a complete lack of transparency and zero financial insights

4. Zero customization

Bank-issued credit cards were too generic and lacked options like custom-spend limits, expense tagging, and others. Naturally most businesses failed to see the value in mass-issued corporate cards with little customization

5. Paltry benefits

Banks issued generic benefits on corporate cards that seldom matched business needs. The lack of benefits further deterred businesses from embracing credit cards for spending and expense control

6. Poor finance

Overall, corporate credit cards and their lack of transparency led to poor financial planning and bad spending habits

7. Limited Liquidity

Businesses avoiding corporate credit cards due to numerous limitations resulted in reduced overall liquidity. This hindered business operations and impacted overall productivity

KODO aimed to revolutionize the corporate finance vertical with service offerings customized to the financial needs of businesses. KODO sought to offer game-changing features that revolutionize corporate credit and exploit this market opportunity.

Creating this solution was only possible through radical digitization and new-age technology that Cloudesign brought to the table.

The Solution

Cloudesign endeavored to create a robust digital platform in line that could support the ambitious product and service offerings that KODO envisioned.

Instant Customer Onboarding

Corporate customers could now be effortlessly onboarded in as little as 3 min! This offered a distinctive advantage over the competition that took anywhere from days to weeks to issue new cards. Ample number of credit cards could now be issued to meet the business needs in the shortest possible time frame

Automatic Account Verifications

Through integration with Experian Bureau and the Registrar of Companies, the new platform could verify the identity of the applicant, assess the credit profile and approve the account in a matter of minutes. This featured enabled the 3 min onboarding while also ensuring complete transparency and financial security

Comprehensive Dashboards

One-stop dashboards enabled businesses to gain a bird's-eye view of their finances. These dashboards enabled spend analysis, expense projections, and advanced data insights that helped clients keep track of the numbers that matter

Comprehensive Dashboards

GST Integration

By integrating with the Goods and Services Tax portal, KODO could further assess the financial profile of its clients. This helped further customization of their services to meet client needs.

Effortless expense approvals

Every expense could be easily approved on the new platform. The platform provided document storage facility for receipts allowing the team to switch to paperless transactions.

Granular Spend Control

KODO allowed clients to define expense categories and limit the spending in each category. This allowed businesses to allocate their resources better and spend on things that actually matter

Advanced Filtering

Category labels and custom tags further enabled advanced filtering and comprehensive reports. Reports like expenses by category, vendor, etc proved to be crucial in helping clients plug financial loopholes

Easy EMI Repayment

The new platform allowed conversion of big-ticket spends into loans at the click of a button. Businesses were now able to cover unforeseen large-ticket spends and easily repay them in monthly installments

Safe and Secure Payments

KODO boasted a comprehensive payments platform that let clients use the payment method of their choice. Payments were securely handled through HTTPs protocols and best-in-class authentication protocols

Comprehensive Reporting

Comprehensive Reporting

Ubiquitous Access

KODO provided both physical and virtual corporate credit cards enabling costumes to transact as per their convenience. The platform could be accessed via desktop, android, and iOS making it virtually ubiquitous

Intelligent Insights

AI-powered insights enabled businesses to identify expense inefficiencies and take corrective action. KODO functioned as a complete corporate finance solution as opposed to a simple corporate credit card