How Volopay helped Black Pine Executive Consulting

Apr 05, 2024

About Black Pine Executive Consulting

Black Pine is a management consulting company established in 2009, with expertise in Banking, payments, IT and outsourcing industries, offering Strategic Consulting, Business and Product Development, Lean Process Optimisation, Project Management and Coaching Services.

With offices in Belgrade and Moscow, they primarily focus on markets of Central Eastern Europe and Russia. They help clients improve results by advising them on strategic and operational management decisions in line with market benchmarks and industry best practices.

The challenge - Black Pine had difficulty in monitoring their travel expenses

True to their promise of getting to the core of the issue, Black Pine Executive Consulting, a boutique consulting firm in Singapore, went down to the root of the issue when it comes to accounting their travel expenses.

They found out that overspending or under-spending of employees in travel expenses was brought about by lack of a budgeting system.

Black Pine used to issue advance payments for business trips to their employees. No specific process was laid in relation to these expenses.

The solution - Black Pine distributed physical and virtual cards for travel expenses

Radek Jezbera, Partner at Black Pine, was looking for payment cards to be distributed to their employees. Many payment cards are available in the market but only a few are affordable for small businesses like Black Pine.

Good thing Volopay was able to offer Black Pine both physical and virtual cards.

The result - Black Pine now experiencing ease and comfort in their expense management system

Employees are now given their own physical or virtual cards for their expenses. Each of these cards are attached to a pre-existing budget set by management, so the employee could not spend more than the set budget.

Moreover, everything is real-time and transparent both for the employee and the management. Employees now have more independence in spending without breaking the pockets of the company.

As for the accounting process, all expenses are seamlessly synced to Black Pine's accounting software. This added an extra layer of ease and comfort in their expense management procedures.

Through Volopay's physical and virtual cards, and seamless integration with their accounting software, Black Pine was able to significantly streamline their expense management process.

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.

What Volopay provided Black Pine

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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