Industry: Accounting and financial services
Industry: Accounting and financial services
AT A GLANCE
Virtual CFO and Accounting
11-50
Not Specified
- Manual payments process has become time-consuming and error-prone
- Managing large volumes of payables from clients across multiple payment platforms have become costly
- Streamlined bill payment process
- Competitive rates for local and overseas bill payment
- Access to Employee Corporate Cards as a value-add to Counto's clientele
- Spenmo's Smart Scanning technology, drag-and-drop functionality, and bulk upload capabilities minimize the manual data entry required for the submission, tracking, and payment of vendor invoices.
- Real-time tracking of payments reassures clients that their vendors receive payments in a timely manner
- Counto's clients enjoy low transfer fees for bill payments, including a 0% FX mark-up for overseas transactions
- Having access to Spenmo's suite of solutions empowers Counto's clients to gain visibility and control over their corporate spending
Besides the time-consuming manual processes, managing substantial payment volumes has a notable impact on costs. Each biller has their preferred payment method, and every bank imposes its transaction fees. Although the rates are competitive when settling invoices individually, the cost burden becomes more evident when dealing with bulk payments.
Recognizing the pressing need for seamless payment integration, Counto has chosen to partner with Spenmo to optimize its clients' accounts payable workflow, which includes:
- Streamlining the bill payment process by integrating Counto's client bill payment system with Spenmo's payments API.
- Efficiently managing large volumes of invoice payments while minimizing costs.
- Leveraging Spenmo's competitive rates for both local and international bill payments.
- Enhancing client value by providing instant access to Employee Corporate Cards
Counto looked to Spenmo for the following solutions:
AT A GLANCE
Virtual CFO and Accounting
11-50
Not Specified
- Manual payments process has become time-consuming and error-prone
- Managing large volumes of payables from clients across multiple payment platforms have become costly
- Streamlined bill payment process
- Competitive rates for local and overseas bill payment
- Access to Employee Corporate Cards as a value-add to Counto's clientele
- Spenmo's Smart Scanning technology, drag-and-drop functionality, and bulk upload capabilities minimize the manual data entry required for the submission, tracking, and payment of vendor invoices.
- Real-time tracking of payments reassures clients that their vendors receive payments in a timely manner
- Counto's clients enjoy low transfer fees for bill payments, including a 0% FX mark-up for overseas transactions
- Having access to Spenmo's suite of solutions empowers Counto's clients to gain visibility and control over their corporate spending
Besides the time-consuming manual processes, managing substantial payment volumes has a notable impact on costs. Each biller has their preferred payment method, and every bank imposes its transaction fees. Although the rates are competitive when settling invoices individually, the cost burden becomes more evident when dealing with bulk payments.
Recognizing the pressing need for seamless payment integration, Counto has chosen to partner with Spenmo to optimize its clients' accounts payable workflow. This collaboration involves:
- Streamlining the bill payment process by integrating Counto's client bill payment system with Spenmo's payments API.
- Efficiently managing large volumes of invoice payments while minimizing costs.
- Leveraging Spenmo's competitive rates for both local and international bill payments.
- Enhancing client value by providing instant access to Employee Corporate Cards
Counto turned to Spenmo for the solutions below:
1. Streamlined bill payment process helped improve client engagement
Before Spenmo, Counto grappled with completing client bill payments, taking 30 minutes to process each bill manually. Following the successful integration with Spenmo, bill settlement time has drastically decreased to just 5 minutes.
Ishi noticed a boost in his team's operational efficiency thanks to Spenmo's Bill Pay suite, which includes Smart Scanning technology, easy invoice drag-and-drop functionality and bulk upload capabilities. Counto's clients now enjoy real-time payment updates and efficient receipt and invoice management, significantly improving the client experience.
“The accountant login comes in handy. My team no longer has to chase multiple accounts for access; monitoring spend across multiple clients is now effortless,” Ishi adds.
2. Competitive local and overseas transfer fees for bills payment
Before adopting Spenmo, Counto's clients faced the challenge of managing payments using more than 10 different payment applications. This fragmented process led to inefficiencies and time-consuming efforts.
Moreover, Counto's accounting team used to expend significant time searching for the most favorable rates to meet their client's remittance needs. Thanks to Spenmo, Counto and its clients now benefit from the best overseas rates for bill payments, boasting a 0% FX markup based on Google rates., resulting not only in time but also cost efficiency.
2. Competitive local and overseas transfer fees for bills payment
Before adopting Spenmo, Counto's clients faced the challenge of managing payments using more than 10 different payment applications. This fragmented process led to inefficiencies and time-consuming efforts.
Moreover, Counto's accounting team used to expend significant time searching for the most favorable rates to meet their client's remittance needs. Thanks to Spenmo, Counto and its clients now benefit from the best overseas rates for bill payments, boasting a 0% FX markup based on Google rates., resulting not only in time but also cost efficiency.
3. Access to Corporate Cards as a value-add to clientele
Meanwhile, Spenmo’s Corporate Cards are a great value add to the many benfits Counto can provide its clients. Counto’s clients no longer need to toggle between multiple platforms to submit a reimbursement claim or incur out-of-pocket expenses for corporate use. Employees having access to physical and virtual corporate cards meant easier and controlled spending with its worldwide acceptance and spend control features, such as pre-assigned budgets and merchant locks.
Adopting Spenmo not only helped Counto's clients handle their business payments better, but it also alleviated his team’s workload. Moreover, the bill pay automation and low transfer rates have contributed to massive cost savings for team Counto and its clients. Since discovering this, Ishi wasted no time in introducing Spenmo to his clients.
Spenmo is more than an expense platform for Counto—it’s a modern way of managing business finances.
Adopting Spenmo not only helped Counto's clients handle their business payments better, but it also alleviated his team’s workload. Moreover, the bill pay automation and low transfer rates have contributed to massive cost savings for team Counto and its clients. Since discovering this, Ishi wasted no time in introducing Spenmo to his clients.
Spenmo is more than an expense platform for Counto—it’s a modern way of managing business finances.