How Volopay helped Smartworks with expense management
About Smartworks
Smartworks is an India-based organization that provides managed and flexible office spaces to businesses of all sizes. Established in 2016, Smartworks has over 40 office centers across 13 cities in the country, offering unique solutions to aid their customers in reinventing flexible, scalable, and affordable offices.
More than 600 organizations have worked with Smartworks to create better workspaces that facilitate their unique business needs, allowing them to grow faster and reach their full potential.
Smartworks aims to reimagine the way workspaces function and integrate both physical and digital platforms to minimize the limitations that businesses run into.
Smartworks’ expense management challenges before Volopay
As a company that offers workspace solutions, Smartworks has to efficiently manage its finances, particularly expenses that occur as part of its daily operations. However, some major challenges that Smartworks faced while managing their company funds include staying on top of employee business expenses and compiling monthly reports, which can be a hassle.
Smartworks has previously used other tools and looked at solutions to address their challenges. However, they had not found one that helped them with their issues with generating monthly reports and staying on top of employee expenses. Even using bank-provided cards proved to be a challenge as requesting limit increases was difficult.
The solution
● Automated and customizable expense reports
● Prepaid cards linked to a card management dashboard
● Easy limit increase requests
● Mobile app & OCR for receipt scans
● User-friendly onboarding and interface
Optimize your financial processes today!
From challenges to success: How Volopay helped Smartworks
1. Improved reimbursement handling and expense reporting
Before: The previous software platform created significant complications in monthly reporting and account management processes. Report generation frequently resulted in errors and inconsistencies, while user account top-ups became unnecessarily complex, leading to delays in expense management and reimbursement.
After: Volopay's user-friendly platform has simplified monthly reporting, account top-ups, and receipt uploads, making reimbursement updates much easier.
2. Saved time and money on finance management
Before: The organization had to initially rely on manual expense tracking methods, a process that required investment of excessive time and resources from staff members. This labor-intensive approach not only increased operational costs but also reduced productivity across departments, impacting the company's bottom line.
After: Volopay has streamlined multiple processes, which has saved the team around 10-12 hours weekly and reduced expenses by approximately ₹1,00,000 lakh per year.
3. Streamlined financial processes
Before: Managing expenses across multiple traditional platforms created unnecessary complexity in tracking and reporting processes. The fragmented tech stack made it challenging to maintain comprehensive oversight of expense activities, resulting in reduced visibility and delayed financial decision-making.
After: Volopay’s centralized expense management and intuitive interface reduce time on manual tasks, give full control to admins, and make reporting and approval processes faster and more efficient.
4. Efficient customer support and resolution
Before: Support services from the previous platform provider consistently failed to meet response time expectations. When issues arose, the lack of timely technical assistance created roadblocks in expense processing workflows, frustrating employees and hindering operational efficiency.
After: Volopay’s chat support and dedicated assistance resolve issues instantly, saving time and ensuring smooth operations.
Why Smartworks recommends Volopay
Using Volopay has helped Smartworks save time in the process of managing its expenses. When calculating daily expenses is no longer a hassle, businesses can spend more time on other tasks that require more attention and focus.
Smartworks has benefitted from Volopay’s easy-to-use interface to manage their card expenses, reimbursements, and receipt management, having saved over 10 hours each week just by using Volopay for their expense needs. Smartworks estimates saving INR 1,00,000 annually with Volopay’s expense management tools.
Smartworks users have also reported that they are happy with Volopay’s customer support team. The team is always ready to help and has swiftly addressed any issues or queries they have previously had.
