Wafeq & Finanshels: Supporting Compliance and Scalable Growth for 5,500+ Companies in the UAE



Envision a founder working long hours over spreadsheets, trying to make sense of hundreds of transactions while worrying about meeting VAT and corporate tax deadlines. Every missed number or delayed report felt like a risk to the business’s growth. This was the reality for many UAE SMEs, until Finanshels partnered with Wafeq to transform chaotic accounting into streamlined, real-time clarity.

By combining expert workflows with powerful automation, Finanshels and Wafeq have enabled over 5,500 companies to scale confidently while remaining fully compliant, demonstrating how the right tools can transform financial stress into business growth.

About Finanshels

Finanshels is a UAE-based accounting and finance firm built to serve fast-growing SMEs that need real-time financial clarity, reliable compliance, and scalable systems.

Established in 2023, Finanshels was built with a clear purpose to provide founders with real-time financial clarity and simplify compliance across bookkeeping, VAT, and corporate tax. The company began with a small team of two professionals and 30 clients, focusing on delivering accurate numbers, fast turnaround, and full transparency.

From the outset, Finanshels positioned itself as a digital-first accounting firm, combining accounting expertise with structured workflows and automation to help SMEs bring order and clarity to their financial operations.

The Challenge: Growth Without Financial Systems

Finanshels was founded after repeatedly seeing the same problem across UAE SMEs. Businesses were growing rapidly, but their finance systems weren't keeping up. Founders relied on manual processes, spreadsheets, and delayed reporting. Compliance tasks, especially VAT and the introduction of corporate tax, were becoming stressful, time-consuming, and risky.

As Vashal Singh, Head of Partnerships at Finanshels, explains:

Without structured systems, decision-making suffered. Founders lacked visibility, deadlines were missed, and errors became costly.

Watch the full case study video to hear directly from Finanshels’ leadership:

Finanshels's Core Values and Workflow Approach

At the heart of Finanshels’ operations are its core values: accuracy, speed, and trust. These principles guide every client's interaction, report, and process.

To maintain high-quality service across thousands of clients, Finanshels relies on structured workflows, strong Standard Operating Procedures (SOPs), and dedicated client teams. This ensures that bookkeeping, VAT, corporate tax, and reporting are consistently accurate, timely, and reliable.

Automation and workflow tools play a key role in their operations. By tracking tasks, deadlines, and exceptions, the team stays organized and responsive, enabling fast, scalable, and consistent service.

These core values, combined with a technology-driven workflow, allow Finanshels to provide SMEs with real-time financial clarity and stress-free compliance, even as the business grows rapidly.

How did Finanshels scale rapidly while staying accurate and compliant with Wafeq?

As Finanshels expanded its client base, scaling operations required more than increasing team size. Managing thousands of clients while maintaining accuracy, compliance, and speed required a reliable, regionally built accounting platform.

Finanshels partnered with Wafeq as its core accounting system to support this growth. Wafeq enabled faster reconciliation, smoother VAT and corporate tax processes, and clearer financial reporting. Its ease of migration allowed Finanshels to onboard clients efficiently, including those transitioning from spreadsheets or other accounting systems.

With Wafeq embedded into its workflows, Finanshels was able to standardize processes, track deadlines, and maintain consistent service quality across bookkeeping, VAT, corporate tax, and reporting.

Growth Powered by Wafeq: Key Metrics That Tell the Story

This technology foundation played a critical role in helping the firm scale to more than 5,500 clients, supported by a team of over 150 professionals. Also, Finanshels has earned a 4.9 Trustpilot rating, a 9.2 NPS, and maintains a 98% client retention rate—a testament to its reliability and high-quality services.

Today, Wafeq continues to support Finanshels’ scalable, compliance-first operating model—allowing the firm to grow without compromising control, accuracy, or client trust.

At the core of this growth is a clear operating model:

• Strong workflows.
• Automation-first processes.
• A technology stack designed for the GCC—anchored by Wafeq.

A story about one of Finanshels’ clients: Turning Compliance Stress into Confidence

One of Finanshels’ clients, a professional services company, approached the firm right before the UAE corporate tax rollout. Their books were disorganized, expense documentation was incomplete, and they were worried about being non-compliant.

Finanshels stepped in, cleaning up the books, establishing structured documentation workflows, and creating a corporate tax-ready financial framework.

Vashal Singh described the biggest relief:

Wafeq played a key role in this transformation by:

• Making reconciliation faster.
• VAT and corporate tax processes are smoother.
• Reporting is clearer.
• Migration from spreadsheets was seamless, saving both time and stress for the client.

This story demonstrates how automation, structured workflows, and the right technology partner can turn compliance challenges into operational confidence.

The Future of Accounting and Wafeq’s Role

Finanshels believes the future of accounting in the GCC lies in automation, compliance-first systems, and technology-driven workflows. As corporate tax and digital adoption increase, businesses will expect faster, more transparent, and accurate financial operations.

Platforms like Wafeq are central to this transformation. By enabling real-time reporting, streamlined compliance, and scalable operations, Wafeq allows Finanshels to maintain high-quality service while growing rapidly.

The partnership demonstrates that the right technology and structured workflows can turn complex accounting challenges into reliable, stress-free operations for SMEs across the UAE.

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Finanshels’ journey demonstrates how the right technology partner can transform growth challenges into opportunities. By embedding Wafeq into its workflows, Finanshels achieved scalable, compliance-first operations, delivering real-time clarity and consistent quality for over 5,500 clients across the UAE.