AIOPSGROUP does e-commerce implementations for some of the biggest brands in the world, such as Puma, IKEA, and Rossignol. The group’s VP of Delivery, Slavi Slavov, had heard good things about Payhawk and advised the company’s financial team to check it out. The team loved the functionality of the OCR data extraction and the flexible card limits at first sight and they decided to implement the solution across the business.
Life before Payhawk
Before switching to Payhawk, the business kept running into the same issue. It just couldn’t rely on the banks to keep up with its rate of growth.
“For card payments, we used to pay with standard bank cards. But our growth was so significant that the banking system in Bulgaria couldn’t support it,” Slavov explained. “We had cases where we were hitting all of the bank limits, and I had to pay for our licenses with my personal credit card.”
The team also had some pretty manual expense management processes for invoice and receipt tracking. It involved searching and sending documents, uploading them to the cloud, archiving them, and then forwarding them to another financial system. It wasn’t very efficient or transparent for the finance team or stakeholders, and the business was ready for a change. “Since switching to Payhawk, we save approximately two hours daily and up to two days in terms of resolution time. This allows me to focus on more important tasks,” Finance Manager, Magdalena Velikova, said.
Simplifying tracking, logging, and reporting
By moving to Payhawk, AIOPSGROUP wanted to gain control over its company expenses and optimise the tracking, logging, and reporting processes. The group works with an external accounting firm, and by giving them access to Payhawk, it managed to provide clear visibility over all expenses and documents via a monthly report.
Now the process between the internal finance team and the external accounting firm is seamless. All the correct info is available in real-time in Payhawk, so the finance team can understand what's being spent, act quickly to raise and resolve queries and issues, and adjust budgets and spend limits if necessary.
Saying bye to the banks: Saving money and swerving stress
Now that the company has moved away from standard bank cards to Payhawk company cards, it can avoid the mountain of bank taxes it was paying previously. Plus, the finance team saves around two hours daily in manual finance administration. This new productive time means that the team can focus on finance strategy, and work on activities to optimise business growth.
Providing a user-friendly experience
"Our teammates are really happy with the platform," Velikova told us. It's this user friendly experience that makes control and visibility super easy to manage. With Payhawk, the company's policy is built into the tool via spend limits and workflows, so the fact that people love using the platform means compliance is high and spend data is complete.
"From an end-user perspective, Payhawk offers a really user-friendly platform which makes invoice processing very easy," Tanya Aleksandrova, HR Business Partner, added. "All our teammates are happy with the platform and tell us that the mobile app is super user-friendly and easy to use."
A total spend management transformation
From saving two hours a day and reducing resolution time by two days to saving on bank taxes and providing spend visibility, AIOPSGROUP has transformed its expense management with Payhawk.
If you want better control and governance over your company spend (and to say goodbye to your bank taxes) like AIOPSGROUP, download our free ebook, CFO tips to make the month end go smoothly. Or, if you're ready to take the next step, book a demo with us today.