How Volopay helped m-View
m-View Live Video is a company that aims to provide other organizations with video technology to reap the most beneficial outcomes.
The people of the company are passionate about video technology and believe that it can bring about significant changes in the world for the good of everyone. They manifest the idea that every business must have faultless access to visual intelligence, either in real-time or video data that is securely stored and managed.
m-View is an Australian high-tech company that specializes in offering mobile video solutions to businesses for video streaming, in-car video systems, body-worn cameras, digital evidence management, and content solutions for all types of industries.
Their major customers are Law Enforcement, Public Safety through Government and Private companies, and Healthcare. m-Video believes in empowering businesses with the advantages offered by digital video technology for enhancing business performance, managing evidence, situational awareness, and security.
m-View’s CFO gave us a whole list of problems for which Volopay became their solution. One of the major challenges the company was facing was no visibility over the spending the company, which made it difficult to manage the funds.
Their next problem was something that most companies fail to understand the importance of, accounting integrations. The lack of an automated accounting system forces the finance team to spend countless hours every day manually entering expense data and reconciling the balance of the books. Before Volopay m-view faced the same problem.
Furthermore, their challenges were related to expensive corporate cards and the unavailability of a suitable corporate card provider which would not only give cards but also help in enforcing spending policies.
Mr. Khalid Ahmed (CFO, m-View) said, “ We were looking for an expense management platform, especially with the number of SaaS subscriptions paid via credit card.
These were all paid via one corporate card, which led to various manual processes to reconcile transactions and analyze and report on spending across multiple providers. Without budget limits, we were also subject to cost creep, which we had very limited ability to control.
Furthermore, the traditional banking systems also meant that issuing cards to our employees for various expenditures required us to go through a rigmarole, and issuing and decommissioning cards was too difficult.”
Continuing on the same note, the company was facing major issues related to the time spent creating cards for subscriptions and vendor payments.
They were in search of an all-in-one expense management platform that could help them create cards, comply with budget limits, reconcile and integrate with accounting systems and also give them transparent visibility into the company spending, which would ultimately offer them seamless control over their finances.
1. No visibility over spending patterns
2. Lack of accounting integrations
3. Expensive/No corporate cards
4. Lack of enforceable spend policies
5. No approval policies/difficult approvals
1. Comprehensive expense management system
2. SaaS and marketing subscriptions through credit cards
3. Easy corporate card creation
4. Individual corporate credit cards for employees
5. Faster expense reporting and expense entry completion with cards
6. Direct integration with accounting software
7. Cashback benefits
1. Transparency into company funds and spends
2. Better control over finances
3. Eliminate manual labor for accounting compliance and reconciliation
4. Easy availability of corporate cards
5. Hurdle-free access to business funds
6. Increased focus on solving business problems that require human-touch
7. Automated expense entry and accounting books management
Quoting Mr. Khalid Ahmed (CFO m-View), “Volopay presented itself as a one-stop-shop that solved all of these problems whilst we also benefitted significantly from the cashback scheme meaning it was a cost-neutral solution for m-View.”
Volopay provided m-View with a comprehensive solution to all their problems. m-View successfully shifted from their manual sheets and plugin with accounting software method to an all automated platform. The lack of visibility over the company spending problem was solved by direct accounting integration and immediate expense recording features offered by Volopay.
Additionally, they immensely benefited from the simple and effortless process of creating virtual credit cards and assigning cards to budgets and specific employees, which gave their employees the ease of making payments smoothly.
Not only were the corporate cards beneficial for making subscription and vendor payments but also for enforcing spending policies such as employee expense policy and department limits.
Moreover, direct accounting integration also helped their finance team to reconcile all expenses and save a lot of time and energy, which was usually spent manually checking and complying all-expense with the business’s policies and budgets.
m-View proudly declares that they have saved extreme amounts of money by using Volopay. The digital wallet facility allowed them to make day-to-day purchases to be with ease and through assurance that budgets are pre-approved by finance.
Last but not the least, uploading receipts and reconciling expenses is a breeze on the Volopay platform, according to their employees.
Client Quote (Khalid Ahmed, CFO) - “ Volopay is a simple to use solution that solves many expense management problems small businesses face. The cashback feature also means that the platform is cost-neutral which always helps with getting any business case over the line. Onboarding was simple and Mira is fantastic as our account manager. Any issues or difficulties we have faced with the platform, Mira has resolved within quick timeframes meaning we are never out of action.”
Client Quote (Elleanor Vagg, Senior Financial Accountant)- “Volopay enables m-View to manage and control our recurring expenses by creating spend limits on suppliers or certain categories. This ensures expenses are in line with the budget. The use of individualized cards is quick and easy to set up and disable when required so I can always ensure financial control and compliance with company policies for all users, something I am ultimately accountable for and previously had limited control over. Monthly reconciliations are completed with ease through the Volopay platform and integrations to our accounting system which allows me to spend more time focussing on solving other business challenges.”