FAQs

MoniMove is a fintech platform that digitizes supply chain transactions while enhancing operational governance, the platform is designed in a user-friendly way where buyers are empowered to efficiently manage suppliers and sub-contractors, securing optimal deals and substantially curbing risks related to fraud, inaccuracies, and financial inefficiencies. This unified platform facilitates the seamless onboarding of all stakeholders, offering an encompassing e-procure-to-pay system. Through MoniMove, trade documents undergo seamless digitization by converting them into immutable smart contracts impervious to alteration or manipulation.

Suppliers, as well, are empowered to bring their buyers onto the platform, executing transactions with transparency visible to participating banks. This enhanced transparency prompts banks to readily finance suppliers, bolstered by comprehensive end-to-end visibility and risk mitigation.

Absolutely, MoniMove’s platform offers a robust solution that empowers suppliers with receivables financing opportunities.

On the flip side, buyers stand to gain enhanced credit limits bestowed by banks that tap into the MoniMove platform to strategically mitigate potential risks.

All types of individual, public and private sectors’ transactions can be executed on MoniMove platform including trade of goods, services and installation services.

Indeed, MoniMove platform is tailored to serve the unique needs of businesses, regardless of their scale – from microenterprises and SMEs to large corporations. We also offer dedicated solutions for banks and governments.

MoniMove customers receive invitations via a registration link or register directly from the website. Once onboard, customers input their organization details, invite team members with distinct authorization levels, and set project/department budgets with absolute control.

Furthermore, customers invite contractors, sub-contractors, and suppliers to join the platform. These invited members along with the company staff continue their existing tasks but now through the platform, affording them the ability to oversee the entire journey – from Request for Quotation through to delivery and issuance of a commercial invoice.

When the delivery date arrives, both buyers and suppliers can use the MoniMove mobile app. This app comes with tools to govern the delivery process and ensure the rights and protection of both parties. It is worth noting that MoniMove platform can be used by parties engaging in transactions on an open account basis or seeking the assurance of confirmed payments

Not really, we provide you with the flexibility to seamlessly integrate MoniMove platform with existing ERP system. This integration eliminates the need for redundant tasks and ensures a streamlined workflow. MoniMove platform thrives as a comprehensive standalone solution, presenting a diverse array of services. However, if you decide to maintain your existing ERP, MoniMove integration bridges the gap, extending to you the advantages and values that extend beyond the scope of traditional ERPs.
Certainly, MoniMove platform supports multiple currencies, the platform can be used for local or international trade depending on the selected solution. it is worth noting that MoniMove platform is compliant with the Uniform Rules for Digital Trade Transactions (URDTT) set by the International Chamber of Commerce (ICC) ensuring a seamless and globally recognized trade experience.
All data is encrypted. We maintain a strict policy of non-access; only you, the customer, possess the ability to access MoniMove data. Monimove can provide this level of security via the implementation of the latest security checks. Moreover, MoniMove has earned the prestigious ISO 27001 certification, underscoring MoniMove commitment to the highest standards of information security.
Of course, we’ve got you covered. MoniMove user manuals are available in both English and Arabic. We also provide training sessions for your staff and operate a call center to promptly assist with any questions from your team or other stakeholders. Your experience with us is designed to be smooth and supported every step of the way.

The MoniMove platform stands apart from conventional ERPs and standard procurement software in significant ways. MoniMove distinction lies in addressing a realm that these providers do not cover. While ERPs and procurement software primarily focus on specific operational aspects, MoniMove is centered around elevating operational governance both internally within your organization and in your interactions with other stakeholders.

Unlike conventional systems that focus solely on digitizing supply chain transactions, MoniMove’s uniqueness lies in its comprehensive approach. We don’t just automate processes; we take it a step further by mitigating risks, expanding your business opportunities, reducing costs, and ensuring meticulous oversight of every transaction.

No, you won’t require a large staff to maintain MoniMove Platform. In fact, MoniMove platform is designed to reduce manual work by automating various processes. This efficiency allows your employees to shift their focus from routine tasks to more critical and strategic responsibilities. MoniMove empowers your existing team to optimize their efforts and make a greater impact without the need for additional staff.
The MoniMove platform offers you the flexibility to choose between both options. You can opt for a cloud-based setup, which provides convenience, scalability, and accessibility from anywhere. Alternatively, if your business requires an on-premises solution for specific reasons, MoniMove can accommodate that as well. We tailor MoniMove approach to match your preferences and business needs, ensuring a seamless integration into your existing infrastructure.

By implementing MoniMove solutions, you can anticipate a range of significant savings. Expect notable reductions in procurement time as processes become more streamlined. Additionally, the implementation of MoniMove will act as a deterrent to fraud, safeguarding your financial interests. The enhanced governance and comprehensive visibility provided by MoniMove platform will help you plug financial leakage.

As a buyer, using MoniMove gives you an edge. Suppliers can access invoice discounting through MoniMove’s banking partners, allowing you to negotiate better credit terms with them. The platform also serves as a shield against commercial disputes and defective deliveries, sparing you from potentially costly scenarios.

In essence, embracing MoniMove leads to a cascade of savings that positively influences your bottom line, ensuring a more resilient and prosperous business landscape.

Certainly. MoniMove is highly capable of assisting with price benchmarking. MoniMove sophisticated platform offers invaluable insights that empower you to conduct thorough price analyses across a wide spectrum of suppliers and diverse projects or orders. What sets us apart is MoniMove ability to provide tailored reports, enabling you to make well-informed choices and identify the most favorable suppliers with exceptional deals for your upcoming ventures.

Absolutely not. In fact, MoniMove platform has been meticulously crafted to ensure userfriendliness and seamless communication with suppliers, contractors, and subcontractors alike. We recognize the diverse technological backgrounds of stakeholders, and MoniMove interface is designed to be intuitive and accessible to everyone. Moreover, we provide comprehensive user manuals to guide you every step of the way. Additionally, MoniMove dedicated call center is readily available to provide assistance whenever needed, ensuring a smooth experience for all parties involved. Your suppliers’ technological comfort is a priority, and MoniMove platform is tailored to accommodate and empower them.

No, since the platform is not involved in the payments which are securely and exclusively managed by the banks, accordingly, it does not require licensing from the central banks.

The suppliers can initiate a request for early payment from the banks, leveraging successfully generated commercial invoices. The banks, in response, offer early payment discount rates and suppliers have the flexibility to accept or decline the bank’s offer.

We do not get involved in the disputes between buyers and sellers. MoniMove platform uses digital agreements and a joint agreement (depending on the selected solution) that both the buyer and supplier need to digitally accept. These agreements have terms in place to
safeguard both parties using the platform and they are based on the recognized judicial systems.

Moreover, MoniMove’s design serves as a comprehensive framework governing all aspects of trade transactions. At its core is a delivery assurance protocol, a pioneering mechanism that offers an unprecedented level of protection for both buyers and suppliers. This protocol significantly minimizes the likelihood of potential commercial disputes, ushering in a new era of enhanced trade confidence.

Not really, think of the Platform as a special club, once buyers are registered, they can connect with suppliers who are already members, invited by other buyers or invite new suppliers. Nevertheless, suppliers don’t always need an invitation; our supplier-led solution allow them to join on their own and invite their own buyers. It’s all about flexibility and choice.

The platform offers a real time dashboard that illustrates the funds utilization, it includes a built-in analytics section that provides in-depth insights into the entire supply chain operations and procurement-to-payment cycle.

We are an ISO 27001 certified company.
MoniMove uses Ethereum technology.
MoniMove platform is blockchain-enabled, the platform utilizes blockchain technology to transform traditional manual documents into smart contracts.

The MoniMove platform primarily operates through the web, yet it seamlessly extends its functionality through a dedicated mobile application, catering specifically to the delivery process.