How Volopay helped Fewcents/Monetise Pte Ltd
About Fewcents/Monetise Pte Ltd
Fewcents enables publishers and creators bitesize checkout for text, audio, video, or social media content through Fewcents Paywall, Tipjar, Rewards and Linkout solutions. It identifies never-subscribers and their willingness to pay while getting audiences used to paying small amounts. Casual users pay with their Fewcents account which comes pre-integrated with 270+ of local payment methods in 80+ currencies.
Being a company that helps people monetize their content, Fewcents was all too familiar with the hassles of transferring money across borders. The company had a few specific challenges that needed to be tackled regarding managing the finances within its organization.
Reimbursement challenges faced by Fewcents before trying out Volopay
Managing reimbursements like many other companies was a hassle. We all know the usual culprits for this. Long-waiting periods before employees are reimbursed, lost receipts, and no central system to do so. Apart from that, they also found it difficult to implement spending policies that would be followed strictly and wanted a solution for the high remittance fees they had to pay every time they made online bank transfers.
Challenges
1. High foreign remittance fees.
2. No approval policies/difficult approvals.
3. Reimbursement hassles.
Solutions
1. No remittance fees Pre-spend approval workflows.
2. Volopay’s easy-to-use reimbursement system.
Results
1. Savings on online transfers.
2. Complete control over budgets.
3. A better reimbursement claim process.
How Volopay helped Fewcents Pte Ltd
With Volopay’s expense management system, Fewcents was able to process reimbursements much faster thanks to the ability the platform gives employees to create and submit expense claims instantly. The digital system allowed employees not to have to keep receipts and store them till the end of the month for expense reports.
With custom approval workflows, they were able to enforce spending policies so that senior management always passed their approvals on any transfer request before it left the company budget.
Lastly, thanks to Volopay’s modern infrastructure, the company also doesn’t have to pay the hefty remittance fees that they did earlier and hence saved money on every payment made through the platform.
Why Fewcents recommends Volopay?
Overall, Volopay has helped Fewcents save approximately 4 hours per week and $10,000 per quarter by using our expense management system
When asked if they would recommend others to use Volopay, their answer was a firm yes with the specific reason being that the platform allows for an extremely simple payment processing experience without any hiccups.