VEDA & Payhawk: Transforming accounting processes for Partner clients

In the world of fintech and accounting, some partnerships are built on shared vision and innovation. That's definitely the case with VEDA, a pioneer in tech accounting, and our innovative spend management platform at Payhawk. Surprisingly, it started with a chance meeting. Danny from VEDA Accounting caught sight of our CEO, Hristo Borisov's tech-savvy style (marked by his Apple Watch), and an initial conversation turned into an implementation and then a full embrace of our technology at VEDA.

We recently chatted with VEDA's Founder, Maggie Stancheva, to learn how our partnership has transformed VEDA's operations and helped their business thrive.

Who is VEDA?

"At VEDA, we're more than just an accounting firm; for our customers, we're partners in financial growth. Based in Bulgaria and the UK, we specialise in providing tailored services that empower all sorts of businesses to thrive. We have seen it all, from fledgling start-ups with their first seed funding to blooming scale-ups. A fun fact about VEDA is that we knew Payhawk way before it was cool – long before it achieved its unicorn status. Their journey to a market leader was incredible to witness. We have been privileged to partner with them many steps of the way, leveraging their cutting-edge technology to elevate our services. Their innovative approach and commitment to excellence have significantly impacted our efficiency and customer satisfaction, reinforcing our belief in the power of strategic partnerships."

How does Payhawk’s platform help you in your business?

"As professional accountants, our main focus is on delivering value to our clients. However, Payhawk flips the script, allowing us to boost our operational efficiency even further. Gone are the days of slow, manual expense management here at VEDA. Payhawk's automation has literally revolutionised our workflow, turning tedious tasks into seamless processes and streamlining our working methods in general. This efficiency means we can now devote more time to what truly matters to us – driving our clients' success. The Payhawk platform is helpful here, too. The advanced analytics tools help us uncover valuable insights and trends hidden within financial data, further improving the services we can offer our clients. In addition, Payhawk helps us significantly minimise the risks of human errors."

More from Maggie? Watch the video below to see Maggie sum up a recent insights session at the Digital Accountancy Show.

What made you pick Payhawk as your recommended spend management solution?

“We did not simply choose Payhawk; we embraced it! What we love about the platform is the user-friendly interface and the constant innovation, like the recently improved accounts payable features and flawless accounting software integration, including integrations with several business tools like CRM systems, inventory management software, and e-commerce platforms. These are a game-changer for us and our clients! Making technology recommendations is a significant responsibility for VEDA as we strive to provide our clients with the best solutions. With Payhawk, we trust its ability to enhance the strong client relationships we have cultivated. We're also wholeheartedly convinced that the future of accounting is paperless; therefore, we're impressed by how Payhawk contributes to the concept of the paperless office environment.”

What have your interactions with the Payhawk team been like?

“The Payhawk team has been nothing short of stellar. From day one, they have partnered with us on everything from product updates to joint marketing activities. Their commitment to customer success is illustrated by their accessibility and support, always stepping up when our clients need them the most. We love the approach, and it's very similar to our mindset when it comes to working with clients.”

Have you seen improvements as a direct result of working with Payhawk?

“Without a single doubt! Automation through Payhawk has freed up significant time for us, which we can now use more efficiently on other initiatives. Our clients are also thrilled with the streamlined processes, eliminating the dreaded end-of-month receipt chase. This newfound efficiency lets us deliver a blue-chip level of services, focus on strategic initiatives, and even expand our client base.”

What new opportunities will you be working on with Payhawk in the future?

“We're really enthusiastic about the EU credit cards now within Payhawk's suite. This exciting addition offers our clients expanded opportunities to manage their growing operations and expenditures, keeping pace with their evolving needs and aspirations.”

Accountancy firm or ERP integrator? Looking to supercharge your client efficiency? Find out more about joining Payhawk’s Partner’s Program.