How Africa's 2nd Fastest-Growing Fintech Halved Its Cycle Time With Pivot

How Africa's 2nd Fastest-Growing Fintech Halved Its Procurement Cycle Time

Moniepoint is a leading global fintech headquartered in Nigeria, with 3,000+ employees, serving over 10 million customers and recognized as the second fastest-growing company in Africa.

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Before Pivot: Limited visibility

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Procurement was largely manual, relying on emails, Slack threads, and Excel sheets to manage requests and approvals. This made it difficult to track purchases, maintain visibility, and ensure compliance as the organization scaled.

The finance team often received invoices without prior visibility into the purchase, a symptom of decentralized communication.

“We needed better visibility, tighter controls, and a single source of truth," said Omondi Ochieng, VP of Finance at Moniepoint. 

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The Search: Finding control

Moniepoint began looking for a solution that could streamline procurement, strengthen approval workflows, and integrate seamlessly with NetSuite, their newly adopted ERP.

Key criteria included:

• Visibility into spend across departments and cost centers
• A flexible approval structure to match Moniepoint’s delegation of authority matrix 
• Scalability and ease of use for thousands of employees

“We were evaluating tools that could help us move fast and still maintain compliance,” said Omondi. “Integration with NetSuite and flexibility were non-negotiable.”

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Deploying Pivot: Connecting systems and teams

Moniepoint implemented Pivot and NetSuite simultaneously, a bold move that Omondi described as “a necessary evil.” Despite the initial challenge, deploying both systems together allowed the teams to align workflows from day one and avoid duplicated efforts. With Pivot, Moniepoint decentralized approvals, assigning ownership to specific departments and cost centers while maintaining full control and traceability. Pivot provided an end-to-end workflow from intake to PO to invoice, ensuring each expense was approved within budget and by the right stakeholders.

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The Financial Control, Vendor Partnerships and Accounts Payable (AP) teams played a pivotal role in this rollout. Working closely with Pivot’s Customer Ops team, they helped map invoice workflows, validate integrations with NetSuite, and guide internal teams through training and adoption. What was once a scattered, email-driven process became a connected system with real-time visibility into spend and automatic data synchronization with NetSuite.

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The Results: Faster closings

Implementing Pivot has significantly enhanced Moniepoint’s accounts payable process in two key areas:

1. Process Efficiency & Transparency: The platform has streamlined payment approvals by automatically routing invoices to the correct cost center and department, ensuring clear accountability and visibility.
   
   
2. Budgetary Control: It has provided an automated mechanism to track and report expenses by business unit, delivering critical data for budgetary analysis and decision-making.

“Pivot has made it easy for our AP team to manage their invoices in one place,” said Omondi. “ They can quickly search for any invoice, review approvals, and rely on the built-in audit trail for full visibility and control.”

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As a result, Moniepoint has reduced its month-end close time from an average of ten business days down to five, while strengthening governance and compliance through a fully auditable, transparent process. To note, 1,300 invoices have been submitted and approved through Pivot within four months, highlighting the platform’s role in Moniepoint’s financial operations.

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A customizable approval matrix accommodates both executive and board-level sign-offs giving executives and board members full access to supporting documentation and prior approvals.

“The visibility Pivot brings is incredible,” said Omondi. “All expense approvers can see all documentation and comments in one place…[which has] made everyone more comfortable with the process.”

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Looking Forward: Scaling control and efficiency

Moniepoint plans to continue building on its success by expanding Pivot’s use. The finance and AP teams see Pivot as a cornerstone of their ongoing modernization strategy, one that enables faster processes, tighter controls, and better collaboration across departments.

“Overall, Pivot has been transformative, customizable, easy-to-use, and built for our current scale,” said Omondi.