Like many other small businesses, AMBOSS built its reputation in part by traveling to medical schools and meeting students, physicians and educators in person. This was a great way to earn trust, but it wasn’t an easy process to manage.
“When we first started we wanted to be efficient and go as fast as we could. We were using our own credit cards and being reimbursed. We didn’t have a seamless system in place for approving expenses or having expenses reimbursed immediately. It was a very manual process.”
While it technically worked, as a company starts to grow, so do expenses. “When traveling there are general needs such as places to stay, eating in restaurants, and renting venues to host student groups. The more traveling required, the more paper receipts add up. It’s challenging to make sure to keep them all neatly organized before handing them into the finance team at the end of the month.”
That’s why AMBOSS uses Spendesk. It gives its traveling team debit cards to buy whatever they need while on the road. Every payment is tracked, and every receipt is easily stored electronically with the handy Spendesk app.
This lets the AMBOSS team forget the old hassles that came with spending, on focus on the valuable work they’re doing.
“It’s really exciting to be part of a group of people who are changing medical education. We believe that better access to medical information helps students become more informed doctors, and improves patient care in the long term. But we also care about the lives and wellbeing of medical students. By creating an all encompassing resource for clinical reference, exam prep and general reference, students can spend more time really exploring and absorbing information, and waste less time searching for answers or explanations.
“New data shows just how much using AMBOSS can improve the medical exam scores of students above the national average (by around 10 points). We hope this means less time cramming for exams, and more time to spend with family and friends, or on extracurricular activities.”
Online subscription payments
Another problem area for most companies is spending online. Many stick to the company card - sharing it between employees and struggling to keep track of who bought what.
But Spendesk gives employees access to virtual credit cards. Staff can create unique payment details for every purchase, which is more secure than using the same card on every website. And approval, payment, and receipts are all stored in the platform, which makes reconciliation simple.
This kind of spending is commonplace for Olivia. “Now I’m mostly doing electronic purchasing. We pay students for their time responding to market research surveys, and have one time projects or other engagements that require online transfers. We also have a student ambassador program where sometimes we send t-shirts, other AMBOSS swag or even gift cards as a ‘thank you’ for their contributions and time.”
Purchasing on-the-go can be hard to manage. “For example, I have a Spendesk subscription for all the purchases I do for online retailers like Amazon. Spendesk keeps a record of projects I have engaged with and tracks my spending for the entire month. The whole management of a particular campaign can go really smoothly.”
The difference between the old process and the new is significant. “This concept was so new to me. I couldn’t imagine this solution for making payments. But when I made my first purchase, I could so quickly and easily create the virtual card, plug it in, and let it go.”