TORONTO--(BUSINESS WIRE)--Vault, the leading digital financial platform for Canadian Businesses, released their Transfer Approval feature designed to help business owners save time and empower their teams. This addition provides owners complete flexibility in managing their Accounts Payables (AP) process, with enhanced control and visibility into payments.
Vault's Transfer Approval feature addresses the challenge of managing bank transfers within a growing, multi-user organization by offering owners the ability to set explicit limits on the funds their employees are authorized to transfer. Using Transfer Approvals, admins can review and approve or reject transfers before they are processed, effectively aligning spend to company policies.
Vault aims to facilitate better business banking by enabling expense policy compliance and strategic business planning:
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Expense Policy Compliance
Transfer Approval rules enable a culture of trust and empowerment by granting employees autonomy within predetermined limits. Every transfer above the threshold is reviewed, preventing unauthorized transactions in violation of company spend policies.
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Strategic Business Planning
Owners proactively manage expenses by aligning transfer limits to department or project budgets, ensuring accurate business planning and resource allocation. Customized multi-level approvals offer flexibility to create workflows that accommodate unique business processes.
Within just 9 months of launch, Vault is supporting over 1,500 Canadian businesses. This release is the latest in a series of ongoing updates intended to provide essential financial tools and features that support the daily operations of Canadian businesses.
"Our customers' success is our top priority, and Transfer Approvals is another feature created with the aim of giving our users all the tools and functionality to seamlessly manage their business, all in one place,” said Ahmed Shafik, Co-founder at Vault. “Customer feedback drives our growth as we prioritize shaping our decisions based on their input and place their business needs at the forefront of product development."
For more information on Vault or the Transfer Approvals feature, visit tryvault.com.
About Vault:
Vault is transforming the financial landscape for Canadian businesses by providing them with a digital banking platform to manage their finances and save on high banking fees. By offering a range of financial products and services, including multi-currency accounts, global bank transfers and high-yield investment options such as GICs, Vault enables business owners to manage their operations across borders more effectively.
