Customer Story
The Nimbus team got rid of paper receipts and petty cash within hours with Volopay
Nimbus - Case Study
Industry
Office solution
Size
10 - 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
- Limited company cards:Â Making expense claims on Xero, whenever an employee purchased on behalf of the company was a tricky situation for the Nimbus team. There were limited company cards, and were accessible only by the managers, so initially they had to manage employee needs on their own, thus costing them a lot of time and requiring a lot of effort.
- Missing receipts:Â Often the receipts went missing, and keeping a track of employee receipts is definitely not among the top priorities of a CFO/CEO.
- Manual entry into accounting software:Â The finance team had to spend hours and hours hunting for all the receipts and then manually entering the data into their accounting software for bookkeeping.
The Solution
Nimbus, an office cleaning company based in Singapore started using Volopay in March 2020 and immediately distributed Volopay's physical and virtual cards to every employee. Now all their business expenses are made via Volopay. With individual cards for every employee, managers don't need to do purchases for the employees, and they can themselves make the necessary expenses required for a smooth workflow.
Plus all the expenses are tracked in real-time by the managers, that is, the time they are incurred. So the expense automation comes with a great amount of spend visibility and transparency.
The Result
Increased Efficiency:Â The employees have great independence in accessing the company's funds and they feel empowered. There are very few fields of which the employees are required to fill in, making things easier for the finance team (they do not need to undo the COA booking mistakes that most employees make).
Accounting Integrations:Â All expenses made via Volopay can be integrated with accounting software. This eliminates the need for manual data entry and doing transaction reviews on the finance team's end.
Savings:Â Nimbus' team has saved a considerable amount of man-hours that they previously had to allocate for the reviewing and sorting processes for claims and/or ad hoc transactions performed using the corporate credit cards.
What Volopay provided Nimbus
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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