Customer Story

Fireshot erased the risks once associated with their spending practices and solved all their spending struggles with Volopay

Fireshot - Case Study


Fireshot
Industry
IT Services
Size
50 employees
Takeaways
  • EXPENSE AWARENESS: Employees are now more aware of their cost spending. They have access to the funds as agreed in the budget.
  • SAVINGS- TIME AND MONEY: Reduction in the time spent by the finance team on invoice processing and remitting payment.
  • AUTOMATION: Direct interface between systems makes the process efficient as duplication of manual work is reduced.

The Challenge

  • Sharing company cards: The staff used to pay from their own cards and later were reimbursed in the form of salary or petty cash. This was costing the company a significant amount of working hours, plus the sloppy nature of such practices made it exasperating for both the employees and the finance guys.


  • Risks with sharing: There were several risk factors associated with sharing the same credit card details across multiple staffs, and was not scalable based on deep trust.


  • Dependency on a single card:  If the card got compromised, hundreds of payments will fail, because of one single point of failure, and therefore they had to avoid using these details on unknown sites even for legitimate purchases.


The Solution

After switching to Volopay, Fireshot distributed physical and virtual cards to all their employees, and immediately shifted all their business expenses onto Volopay. This eradicated the risks that were once there with sharing a single card for their expenses. Plus, Volopay's virtual cards help them to handle all their SaaS subscriptions in one place, and the extra flexibility to make temporary cards for specific payments on unknown sites adds an extra layer of security.

The Result

Spending Independency: Employees have the complete authority to make a spend whenever necessary, and at the same time, the managers can track every dollar that leaves the company. This automation makes it easy to monitor and administer the entire company budgets.


Tracking in Real-Time: With Volopay, Fireshot's finance manager now don't need to run after the employee expense receipts, and even the employees don't need to panic about them being reimbursed. Because, the spending is just in real-time from the company's budgets, and the monitoring too. A win-win situation for both.


Virtual cards for teams: Handling their SaaS subscriptions is now more easy and efficient for the team. All they need to do is create a virtual card and assign a recurring payment on it, and it's done!


What Volopay provided Fireshot

Payment cards
Physical and virtual cards for all the employees, therefore they spend and you track in real-time
Support
Our managers are always ready to answer your questions. You can call us anytime and we'll be there for you
Accounting integrations
Volopay integrated all their expenses to the accounting software they used daily, thus automating their entire financial process.
Receipt matching
Classification and matching of receipts as you pay. So now no hunting for missing receipts!
Intuitive Dashboard
A user-friendly and intuitive dashboard to track all your employee expenses in real-time.
Quick Onboarding
Sign up in minutes and shift all your business expenses to Volopay in just a few hours.

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