Firm offers finance management solution to MDAs, corporations, others

Nigerian government agencies, businesses, industries, non-governmental organisations and high networth individuals have been urged to adopt a modern financial control system that tracks transport expenditure, closes leakages and facilitates hitch-free, automated instant credit for corporate disbursements.

This charge was given by the finance team led by Nebechi Chukwudum, CEO and co-founder of Lyncs, an integrated corporate mobility management platform that replaces manual transport management with automated financial control.

In a briefing last week at its headquarters in Lagos, the Lyncs team explained how the platform provides intelligent company credit within policy guardrails for transparency, zero leakage and audit-proof governance for modern enterprises.

Seun Suleman, co-founder and CTO of Lyncs, said many businesses had suffered setbacks because of bureaucracy, leaks, corruption, audits, paperwork and processes that seek to eliminate fraud but create delays and cost scarce resources. These and many other hiccups were the factors they had in mind while creating the corporate mobility management platform. He also observed that in Nigeria, oftentimes, finance teams are forced to act as forensic auditors, reconstructing spending from fragmented evidence, while employees become unintended creditors to their companies.

Citing a number of cases where delays in approvals and convoluted communication and feedback led to leaks, staff retrenchment and loss of business worth millions of Naira for organisations, the Lyncs CTO maintained that there was much to be gained by adopting this new platform in transport management.

“We asked: what would make fraud discoveries instant and recommendations automatic? The answer was a system that prevents leaks at the source, not one that reports them weeks later, ” Suleman said. “Lyncs replaces manual claims with automated, policy-driven credit. Every ride, flight or bus trip is requested, approved and recorded within the platform before any spending occurs.”

He said companies using Lyncs now report a transformation in financial control where duplicate reimbursements are eliminated entirely through unique trip-ID tracking; unapproved spending is reduced by 98 percent via real-time policy enforcement; reconciliation time is slashed from over 72 hours to under 120 minutes monthly and transport budget accuracy is now at 99.7 percent.

Explaining further, the CEO said one of the outstanding aspects of the platform was the ‘paste-the-link’ feature, which acts as an audit trail. Nebechi said: “Each link is a verifiable, immutable record. We’ve moved finance from verifying receipts to verifying decisions. The question changes from ‘Did this happen?’ to ‘Should this happen?’ That’s the difference between catching leaks and preventing them.”

Calling on CEOs, CFOs, finance directors, accountants, auditors and other finance decision makers to improve on performance, save time, manpower and money through this modern financial management system, the Lyncs founder said the platform had proved satisfactory to companies already using it and simplified age-long logistics complications.

“With Lyncs, my team isn’t chasing receipts, they’re analysing spending patterns,” said a finance director at a Lyncs-powered firm. “We’ve moved from defensive accounting to strategic oversight. That is not an incremental improvement; it’s a functional transformation.”