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Saving time and empowering employees at HRS

HRS is one of the leading HR companies in Bulgaria. Based in Sofia, HRS was founded over ten years ago and has a team of over 100 consultants. The team strives to provide clients with top talent and standout individuals while offering candidates life-changing employment opportunities.

HQ:
Sofia
Industry:
HR
Employees:
150
Started using Payhawk:
November 2022
Features they love
  • Easy card issuance and controls
  • Receipts capture and chasing
  • Bank transfers to pay bills
  • Real-time spend control
Kiril Boradjiev, Co-founder and Managing Partner at HRS, Bulgaria

“Empowering people with company cards has encouraged employees to consider their spending. And we have found more ways to save money because of good spend visibility.”

Kiril Boradjiev, Co-founder and Managing Partner at HRS, Bulgaria


Life before Payhawk

As an HR and staffing agency, the team at HRS has always strived to invest their time and resources into recruiting top-notch professionals for both their clients and their own business. As such, HRS already had a great finance team; but they still faced common spend management challenges and wanted to improve their finance tech stack.

Before Payhawk, HRS used a bookkeeping system that involved manually recording, maintaining, classifying, and summarising business transactions and internet and card banking payments.
The finance team was always chasing receipts, found it difficult to control their spending in real-time, and wanted to leverage a tool to help automate some of these manual tasks.


Saving time with card issuance and controls

Since moving to Payhawk, HRS has empowered colleagues to spend as they need to for work faster and more efficiently than before. Cardholders no longer have to wait days for their corporate cards to land on their doormat through the letterbox. Instead, the finance team at HRS can issue Payhawk cards to be used immediately via virtual cards. Moreover, the associated card controls are easy to manage and update as they need.

With Payhawk, card controls like daily limits, blocks on ATM withdrawals, and approval workflows are built into the tool, so it’s almost impossible for cardholders to break spend policy, and compliance rates are through the roof.

“Empowering people with corporate cards has encouraged employees to consider their spending,” Kiril Boradjiev, Co-founder and Managing Partner at HRS, explains.


Getting real-time spend visibility

For HRS, using Payhawk for spend management has opened up new savings opportunities. “We can now see where money is being spent and why, all in real time,” explains Kiril Boradjiev, “And we have found ways to save money because of good spend visibility.”

With Payhawk, any spend is visible on the platform as soon as a cardholder spends. And the finance team can see what has been paid for and where.

All the cardholder needs to do is take a photo of their receipt, add it to the platform, and select a custom category from a list assigned by the finance team. Then, their payment automatically transfers to the chosen ERP or accounting software, meaning that all the spend data flows in real time, making reconciliation a breeze.

We can now see where money is being spent and why, all in real time. And we have found ways to save money because of good spend visibility.

The finance team can then adjust budgets, ask for more information, and pull any other levers it needs to pinpoint ways to save and update policies.

Invoices work similarly in that employees simply need to attach the PDF or take a photo to submit it for payments by the finance team. The powerful OCR technology then reads the document and pulls out all relevant spend data for processing and recording.


Expense management made easy: Software and service

Aside from Payhawk corporate cards, HRS loves the associated expense management software, especially the automatic receipt chasing.

Whenever a cardholder doesn’t upload a receipt, the software makes it hard for them to forget. The tool automatically chases missing receipts to avoid missing information come month-end. The auto-blocking card feature even freezes cards when they have too many outstanding receipts, helping cardholders understand the importance of good expense hygiene.

We have saved hours on receipt chasing thanks to the automation! And love the overall customer experience. The customer support team at Payhawk is always fast to answer and super responsive.

HRS understands people. And while they love Payhawk’s intuitive tools, they also value the people behind them.

“We have saved hours on receipt chasing thanks to the automation! And love the overall customer experience,” says Kiril Boradjiev. “The customer support team at Payhawk is always fast to answer and super responsive.”

Like the sound of HRS’s story? Learn how getting spend visibility and finance automation could save time and money at your business; book a demo.

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