About MH&R Holdings
MH&R Holdings is a community support organisation working with people with multiple and complex disabilities. The registered NDIS service provider also assists people in contact with the criminal justice system and supports young people living out of their homes.
About Budgetly
Budgetly is an Australian prepaid corporate card and expense management software provider. We’re committed to making expense management easy for all companies and improving their expense processes. Our service is adopted by many NDIS providers, aged care providers, charities, and businesses across Australia.
Overview
MH&R Holdings is an NDIS service provider with over 300 employees. The company aims to provide inclusive, holistic, and client-centric support work for its community in Richmond, Victoria.
To manage their day-to-day expenses, staff and support workers utilised gift vouchers which were inefficient for the following reasons:
- Limited purchase of gift vouchers. Staff were only allowed to purchase gift vouchers per person, which wasn’t enough to sustain the level of company transactions. As a result, the company had to coordinate with multiple staff to purchase these vouchers.
- Lack of expense visibility. The gift vouchers provided limited tracking functionality and no oversight of staff expenditures in real-time.
- Tedious receipt-chasing and reconciliation. Finance staff were spending too much time chasing staff for receipts and reconciling expenses, as they would have to match the gift voucher purchases to the receipts.
- Budgeting limitations. While staff were verbally given budget limits, the gift vouchers didn’t offer finance teams any functionalities to enforce spending limits.
For Julius Adeosun, the company Director, having limited control was frustrating, which led him to research a better expense management solution. Since switching to Budgetly in 2021, Julius has had much better visibility over his budgets and has managed to save up to 10 hours a week with Budgetly.
Our Solution
Budgetly’s prepaid corporate cards included access to expense management software that’s usable on a mobile app, desktop, and laptop. Using the software, finance teams can now view all staff transactions on a dashboard in real-time - allowing them to flag any unnecessary expenses quickly.
Budgetly has also eliminated the use of gift vouchers. Instead, staff can use the card to pay for company expenses, capture a photo of their receipt, and upload it into the Budgetly app. Staff can also assign the expense into categories and relevant budgets and add notes and tags for the transaction.
The Budgetly app and software automatically reconcile all transactions with key information such as vendor name and transaction amounts. This feature eliminates the need for finance teams to manually chase staff for receipts and reconcile expenses.
Example of the Budgetly app
Finance teams also implement better control measures over their budgets and can reinforce them by setting limits for each card. Additionally, Budgetly also allows them to set funds to reset or roll over every fortnight.
Example of Budgetly’s system
In addition to receipt management, automatic reconciliation, and budgeting controls, the company can also use the following functionalities with Budgetly:
- Issue an unlimited number of visa debit cards
- Instantly edit budgets by adding or reducing funds
- Cancel or freeze cards with a click of a button
- Sync all transactions with Xero
- Generate easy and quick transaction reports for audits
- Get overall better control of company expenses and eliminate tedious administrative tasks.
Results
Besides eliminating tedious manual expense management processes, Julius can now track staff spending and flexibly create budgets from his own desk.
“Budgetly has been a lifesaver - because what my company can do with our expenses is on a completely different level now. We’ve created specific budgets for things such as groceries and petrol and let our team leaders manage these. Budgetly is one of the best things that’s happened to me.”
Julius Adeosun, Director.
Compared to gift vouchers and credit cards, Budgetly’s transaction tracking feature makes it a better option for companies like MH&R Holdings.
“If we continued using the gift vouchers, we’d still have limited visibility over transactions and spending. We did consider moving to credit cards with our bank; however, this still would have given us little oversight.”
Julius Adeosun, Director.
With Budgetly’s help, Julius has saved at least 10 hours a week on reconciliation and chasing receipts.
“Our biggest challenge was not being able to track spending and receipts. While I wouldn’t say that I’ve saved money compared to using gift vouchers, I’ve certainly saved time - and I can now allocate hours back into the business and focus on more important things.”
Julius Adeosun, Director.
“I’ve not had too many issues that required me to contact Budgetly, but the overall support from the team has been good. I’d definitely recommend Budgetly to other businesses like mine.”
Julius Adeosun, Director.
For more information on Budgetly and how we work for businesses, schedule a demo with us today, or watch a 10-minute recorded demo.
