This is really empowering!

Life before Payhawk

Scalefocus and Payhawk partnered in September 2019. Before Payahwk, Scalefocus used conventional banks, but their complex processes for managing cards made them look for an alternative solution. Their expense process was a constant headache for a company with more than 800 employees who traveled frequently.

"Bank cards were very complicated to manage. For every employee change, for every new card to be re-issued, or to delete/terminate a card because somebody left the company, the finance team had to do a significant amount of paperwork, which took a lot of time."

"In addition, for a simple credit card limit increase, we needed to get approval by the Bank and internal approval by our board of directors, this created a lot of overhead, and nobody of us was fond of having these cumbersome processes."

"Bank cards were very complicated to manage. For every employee change, for every new card to be re-issued, or to delete/terminate a card because somebody left the company, the finance team had to do a significant amount of paperwork, which took a lot of time."

"In addition, for a simple credit card limit increase, we needed to get approval by the Bank and internal approval by our board of directors, this created a lot of overhead, and nobody of us was fond of having these cumbersome processes."

"With an organizational culture focused on online processes, Scalefocus tries to keep paper documentation to the bare minimum. In alignment with these values, Payhawk has offered a great solution for managing cards, invoices, and expenses."

Furthermore, changes in Bulgaria's accounting and tax legislation in the last few years have greatly helped. Keeping paper invoices and documents is no longer required, as a digital copy is now sufficient.

The finance solution for remote teams

"After switching to remote work during the pandemic, using Payhawk for payments instead of our traditional banks really helped," Iliyana mentioned. They didn't need to go through any of their previous time-draining processes as before. And they can add users, issue corporate cards, or raise spend limits within the Payhawk platform in just a few clicks.

"Having this accessibility was very important to enable us to be completely remote."

"Before Payhawk, we were reimbursing travel expenses to most of the frequent travelers. This took a lot of time and is not a fair policy for the employees. If we adopt Payhawk fully, we will be able to do the trip expense report in real time. Now we wait up to 2/3 weeks until employees are back to have all the tickets and the expense report. We are eager to optimize this process."

Less admin work for the whole team

The finance team has reduced the workload for finance and non-finance colleagues alike. Payhawk cardholders upload the documents (receipts and bills) directly to the platform and add important information for our internal management like cost center, or project, or budget category. Cardholders select these in the app and can quickly choose what is applicable and save email chains with the accounting team.

Great FX rates

Scalefocus has taken full advantage of Payhawk FX rates as the team has started to travel again. This was a real cost-saver, as most of their trips are in the US. According to Iliyana,

"It will be super beneficial to use Payhawk instead of using personal cards, as the exchange rates are horrific!"

With Payhawk, you can avoid currency exchange fees completely by issuing a card in the same currency as your transaction. Even for transactions in currencies different than your card currency, our clients can save up to six times on exchange rate fees.

If you have the same issues as Scalefocus when dealing with traditional banks, then let's talk. Book a demo to find out how we can help you.