STREAMLINING ACCOUNTING AND INVOICING FOR SMALL AND MEDIUM BUSINESSES IN THE MIDDLE EAST

Streamlining Accounting and Invoicing for Small and Medium Businesses in the Middle East

Streamlining Accounting and Invoicing for Small and Medium Businesses in the Middle East

Blog Article

Wafeq is a cloud-based accounting and invoicing platform designed to streamline financial management for small and medium-sized businesses in the Middle East, particularly in Saudi Arabia and the UAE. The platform offers a comprehensive suite of features to simplify various financial tasks.

Key Features:


  • Invoicing and Quotes: Create and customize invoices, quotes, and purchase orders tailored to your business needs and brand identity. Wafeq supports multiple sharing options, including email and WhatsApp, for convenient distribution to clients.

  • Inventory Management: Efficiently manage your product or service inventory, with automatic updates for each new invoice, ensuring accurate stock levels.




  • Payroll Management: Simplify payroll processing by inviting employees to submit their expense claims for approval, streamlining the payroll cycle.



  • VAT Compliance: Generate VAT returns in the format required by the Saudi Zakat, Tax and Customs Authority (ZATCA), ensuring compliance with local tax regulations.

  • Financial Reporting: Access over 30 financial reports, including sales, purchases, profit and loss statements, and cash flow forecasts, to gain comprehensive insights into your business's financial health.


Company Overview:

Founded in 2019 and headquartered in Dubai, UAE, Wafeq has rapidly expanded its user base, serving over 11,000 companies across various sectors. The platform has raised a total of $10.5 million in funding over two rounds, with the latest being a $7.5 million Series A round in December 2024.

Pricing and Support:

Wafeq offers a 14-day free trial without the need for a credit card, allowing businesses to explore its features before committing to a subscription. Pricing details are available upon request.

For more information or to start your free trial, visit Wafeq's official website:

By leveraging Wafeq's comprehensive features, businesses can enhance their financial management processes, ensuring accuracy, compliance, and efficiency in their operations.

 

 

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