Meet Ravi Mehta, who is the Financial Controller of a renowned bank with 200+ branches across India. He recently received the latest audit report and he stared at it for a long time because of what he found in it. It revealed a concerning pattern: unexplained cash discrepancies, delayed rent payments, and uncontrolled spends across the bank’s 200 branches nationwide.
Ravi wasn’t surprised. Managing multi-branch spends in Banking and Financial Services Management is quite complex. Utilities, rent, and petty cash expenses —each branch operates like a small business, and tracking every rupee is a challenge. But what do you do when the discrepancies are often too large to ignore? There must be a better way for financial management companies to manage their spending.
Read further to know how you can gain more control and prevent fraud while managing multi-branch expenses in the BFSI sector.
Ravi’s experience is not unique. Across India, finance leaders in the BFSI sector or financial services management struggle with multi-branch spend management. TIn our experience, we believe there are mainly six broad challenges that companies face.
Just like Ravi, as a CFO in the field of financial services management, you can’t afford financial blind spots. What are the options - You can either reach out to your peers, or industry experts, or consult fintech solution providers. You may also consider Zaggle to understand how you can bring in more control, and visibility and prevent fraud while managing multi-branch expenses. Here’s how we think automation can transform your bank’s multi-branch spend management:
You could be relying on monthly reports that arrive too late to prevent financial discrepancies. With an AI-powered spend management system, you can get real-time visibility into every transaction across branches. Through centralized dashboards, you can track:
This real-time transparency reduces financial ambiguity and allows data-driven decision-making.
As a finance management or an insurance company, compliance is at the top of your priority list. However, companies are also prone to challenges, especially during audits. Digital copies of invoices make it easy to scan, verify, and store documents, ensuring seamless regulatory compliance. This reduces audit time and prevents penalties for tax miscalculations.
In a multi-branch setup, branch managers often have independent control over expenses, leading to delays and inconsistencies. With automation, every expense request above a predefined threshold can be routed to the finance team for approval. This standardization eliminates unauthorized spending while ensuring legitimate requests are approved faster.
One of the biggest game-changers for you can be the AI-driven fraud detection. A robust solution like BROME can flag anomalies like:
In banks and other financial institutions, where there are multiple branches, each branch has its own set of rent agreements and different types of utility bills. These bills and rent payments can be automated. The system schedules payments before due dates thereby avoiding late fees and penalties.
Prevent Petty Cash Fraud Across Branches with BROME
Branch Recurring Operating Monthly Expenses (BROME) help businesses streamline and automate multi-branch recurring expenses. This ensures better control for financial services management companies and efficiency across multiple locations. Here are some of the ways BROME offers higher control, visibility, efficiency, and fraud prevention capabilities to banking and financial management companies.
1. Petty Cash Management
Petty cash is much easier to manage with payment options including UPI and prepaid cards. BROME also enables you to configure your policies to prevent out-of-policy spending. Moreover, real-time insights can help you make more informed decisions.
Imagine spending less while also earning cashback and rewards. Powered by Bharat Connect, BROME offers you this and more. You can centralize utility payments across all branches from a single platform. Companies can also avail of early payment discounts across 25+ utility types.
With a digitized solution like BROME, financial services management companies can manage rent payments, track rent agreements, and most importantly reduce costs and leakages. In the long run, it helps you build better relationships.
Earn Cashback and Rewards While You Reduce Your Spends Across Branches
BROME Offers 25+ Utility Type Payments
For CFOs and finance directors in the financial management sector, the path forward is clear. In case you are still managing your expenses manually, it may not be sustainable anymore. The industry demands automation-driven visibility, compliance, control, and fraud prevention.
Adopting an automated solution to gain visibility and control over your spends can be a good strategy. You can start by analyzing various solutions out there that fit your requirements. BROME is one such solution that you can consider to streamline your petty cash, utility bills and rent payments. Book a free demo to understand how you can prevent fraud and ensure compliance.
Expert contributor and editor at the Zaggle Knowledge Hub, specializing in corporate spend management, expense compliance, and B2B fintech solutions.
Posted on : Sep 25, 2026
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