How Volopay transformed financial management at SAIS

Stamford American International School (SAIS) in Singapore is a leading educational institution renowned for its diverse academic offerings and state-of-the-art facilities.

The school provides a comprehensive curriculum that includes the International Baccalaureate (IB) Program across all levels (PYP, MYP, and DP), Advanced Placement (AP) courses, and an American-style high school diploma.

The campus is equipped with modern science laboratories, technology and design studios, arts spaces, and extensive sports facilities, fostering an environment where students can excel academically, athletically, and artistically.

SAIS places a strong emphasis on supporting its students' academic and personal development through extensive counseling services, specialized learning support programs, and English as an Additional Language (EAL) assistance.

The school's multicultural environment, with students from over 70 nationalities, promotes global citizenship and social responsibility. Active parental involvement is encouraged through community events, strengthening the bond between the school and its families.

Additionally, SAIS offers a wide range of extracurricular activities, including academic clubs, sports teams, arts programs, and community service projects, providing students with a well-rounded education that extends beyond the classroom.

Before adopting Volopay, Stamford American International School (SAIS) managed its online purchases through a single corporate purchasing card. This method presented several challenges.

One significant issue was the difficulty in matching receipts with individual transactions, a task that became increasingly cumbersome as the volume of purchases grew.

The process also required obtaining one-time passwords (OTPs) from the cardholder, adding another layer of complexity and delay.

Fraud prevention was another concern, as using a single card for all transactions heightened the risk of unauthorized purchases.

Moreover, online purchasing for the entire school was conducted using this one card, which made it challenging to determine which purchases belonged to which department, especially when buying items from the same vendor for multiple departments. This lack of clarity complicated financial oversight and budget management.

As the aforementioned challenges grew increasingly harder to manage, using Volopay turned out to be a comprehensive solution for SAIS.

The platform offered a variety of fixes to address concerns

● Transaction matching

Simplified the process of matching receipts with transactions.

● Document upload

Allowed users to upload supplementary documents, such as approval emails, directly under each transaction.

● Departmental cards

Enabled the issuance of individual cards to different departments, each with specific budget limits.

● User-friendly interface

Provided an easy-to-use platform that streamlined financial management tasks.

● Responsive support

Benefited from a very responsive customer success manager.

● Efficiency gains

Saved approximately two hours per week in administrative tasks.

● Increased purchases

Facilitated an increase in online purchases due to the convenience of using multiple cards.

Stamford American International School would highly recommend Volopay to other institutions facing similar challenges. The primary reasons for this recommendation include the platform's ease of use and the significant improvements it brought to the school's financial management processes.

The ability to match receipts with transactions effortlessly, upload additional documentation, and issue cards to different departments with specific budget limits has transformed the way SAIS handles its expenditures.

Furthermore, the responsive and supportive customer success manager has ensured that any issues encountered are promptly addressed, adding to the overall positive experience.

The time and efficiency gains achieved through Volopay, along with the enhanced control over departmental spending, make it a valuable tool for any organization looking to streamline its financial operations.