See how rent24’s finance team stay tech-savvy with Spendesk
As a tech-savvy company, rent24 always wants to work with the latest software and hardware. Naturally, that also means updating old-fashioned processes like expense reports and the company card. Spendesk gives rent24 smooth and simple spend management and helps the finance team track every payment automatically.
Couldn’t effectively manage spend while traveling internationally
Difficulty creating finance processes to suit young, energetic staff
Admin delays in employee expense reimbursements
Couldn’t scale their finance processes
Easy travel spending process: prepaid expense cards to pay while out of office
Modern tools for a fast-moving business
Spend management app tracks and approves payments instantly
Mobile app to capture all card and expense receipts
Simple platform rolled out to the whole company
Simple spending while out on the road
Rituraj, like many of his colleagues, is constantly on the move. “In the past months I’ve been traveling a lot. It’s a part of the work, but I also enjoy traveling so it’s a kind of win/win situation.” He needs to visit the coworking spaces, attend conferences, and network as much as possible.
But like most staff who travel for work, there are common hassles that come with being on the road. “The main issues are with food and travel costs like taxis or buses. We also have to buy tickets for conferences if we haven’t purchased them before.” Typically, this would mean that Rituraj would need a corporate credit card, and would have to report every payment to his finance team.
“In these kinds of scenarios we use Spendesk cards. We can see at exactly the same time the things that we’re all purchasing.” Each payment is logged instantly, and can be viewed by the company’s financial controllers as soon as it’s made.
Plus, there are no issues with lost receipts. “We take a picture of the receipt and upload it immediately, so our Head of Finance can always see it in real time. That’s very important for tax purposes.”
“I really like that you guys have an app, and with one click or one photo I can send all the receipts, rather than going to a scanner or copier. [Without Spendesk] the process is old school, and I don’t want to do that.”
A modern business with cutting-edge technology
rent24 prides itself on using the latest tools and technology. Rather than sticking with the stack it already has, the company seeks out new software to make sure it’s up-to-date.
“We’re a tech-savvy company,” explains Rituraj. “We work with new software and hardware as soon as they come out. We want to learn from open source technologies that are out there, and we want to give back to the community as well.”
Naturally, that also means updating old fashioned processes like expense reports and the company card. Spendesk gives rent24 smooth and simple spend management, and helps it track every payment automatically.
Easy to get started
Despite its love of new technology, the rent24 team can’t afford to spend hours learning to use each new tool. It’s important that software is intuitive and quick to begin.
“Getting set up was easy. I received a link from our Head of Finance, entered my data, and I then I knew exactly what kind of budget I had. That made my life easier because I knew what I could do and what I couldn’t.”
This is also helpful for managers and finance teams. They don’t want to have to constantly remind staff of the rules and processes. Thankfully, these are built into Spendesk, and easy to understand.