How Volopay transformed ReverseAds’ reporting and expense visibility
ReverseAds is a digital advertising company that is revolutionizing the search function for customers. Offering direct competition to Google’s keyword search function, ReverseAds presents itself as an alternative to traditional search-based advertising. Their cookie-less tracking solutions aid campaign-level engagement tied to keyword intent, utilizing only first-party data. Their patented AdTech (Keyword Assignment Algorithm) helps companies create an accurate buyer journey map, supported by ML and AI.
Their solutions include:
• Intent Re-engagement - Retargeting audiences who did not convert during their first visit.
• Intercept - Driving competitors traffic to take action on your website.
• Decision Maker Halo (ABM) - Precisely reaching out to key-decision makers in your target industries
• Social Reach - Amplyfying your audience reach on Social Platforms
• Banned Industry Advertising - Suitable for Businesses that have restrictions on ad platforms. (E.G CBD, Gambling & Casinos)
• Google Search Ads - Driving quality traffic with high-intent to your website.
With these unique powered advertising modules, they are bringing their clients’ advertising to the open web and directly to their relevant customers.
• No credit line
• No corporate cards (only expensive physical cards)
• Difficulty with approval policies
• Budget management issues
• Errors in expense reporting
Before Volopay stepped into the picture, ReverseAds relied on manual Excel sheets to perform expense reporting tasks. The manual labor of expense reporting is one of the major time-intensive tasks of expense management, where many companies lose multiple hours doing repetitive data entry tasks. Additionally, their reporting was verified by the means of bank statements.
Perusing, collecting, and verifying bank statements against manual expense reports leaves a major margin for errors like missed numbers, duplicated payments, lost invoicing, suspense entries, and plain human mistakes.
On top of that, accounting becomes difficult when you have multiple errors. With accounting suffering, so does astute budget management. Reverse Ads faced all these problems with managing their expenses manually.
• Easy access to virtual corporate cards
• Enforceable approval policies with single-click approvals
• Streamlined expense reporting
• Improved budget allocation and enforcement
• Saved money on FX fees
• Low-effort credit line
• Quicker reconciliation with two-way accounting integrations
• Hassle-free reimbursements dashboard
One of the primary ways to eliminate expense reporting errors and ease the burden of reimbursements is to put a stop to out-of-pocket spending. Employees need access to their departments’ funds to be able to seamlessly carry out business-related transactions. However, corporate cards can be difficult to obtain and use. Volopay solved this issue first, by introducing virtual cards into ReverseAds’ financial ecosystem.
Volopay offers unlimited virtual cards to their clients in addition to physical cards. That means you can create a card as and when required, and it will be available for immediate use. These cards can be linked to a specific department, created for a project/need-basis, and even linked to specific subscriptions for more efficient spend management.
These cards, both physical and virtual, record expenses in real time on your General Ledger (GL). As the GL records everything, there is no need to manually verify and cross-check data. Expenses are logged automatically. Moreover, if you need to connect the GL to your accounting software, then Volopay’s accounting integrations allow a two-way sync for quick reconciliation.
Approvals are equally easy. Whether it be for reimbursement or to approve a new card limit request, the administrator can set up multi-level approval workflows. That way approvals are easy as checking your push notifications and approving on-the-go — and out-of-policy requests are automatically declined.
But what happens if you don’t have the pool of funds for these cards and expenses? This is where Volopay’s credit line helps. This easy-access credit line can be used to power corporate cards and is much more manageable to repay compared to traditional loans.
“The functions are really, good especially unlimited virtual card creation.” – Michael Hahn, CEO, ReverseAds
A combination of the credit line, corporate cards, and accounting integrations transformed how ReverseAds was managing its funds and expense reporting. Now, they not only save money, but also save considerable hours every work week, allowing their employees to focus on strategic tasks and productive growth.
Volopay helped ReverseAds ease its credit access and expense reporting concerns.
• Easy to generate virtual cards for business-related spends.
• Automated ledger tracking and expense reporting.
• Enforceable multi-level approval policies with mobile approval systems.
• Quick-to-avail credit line to power physical and virtual cards for business growth.