“The biggest challenge we faced was ensuring we had cash available when we needed it. Now, I can see all my transactions in real time, and we can quickly get funds to staff when they need them. Budgetly has saved at least two full days a month on admin alone.”
Nick Sagade, Accountant
Overview
Quest Employment Solution is an NDIS and Aged Care training provider in the ACT. The company employs over 30 permanent staff and 200 casual staff, with expenses managed through petty cash.
Managing expenses manually has resulted in a couple of challenges, such as:
- Time-consuming process. Finance staff had to wait in line at the bank to withdraw money, and two approval signatures were required. Then they would then have to deliver the cash to multiple houses.
- Receipt management. Finance teams also spent time collecting and scanning staff receipts at the end of each month to be manually reconciled
- Manual reporting error. Company receipts would come with hand-written transaction details, which were easily misinterpreted.
- Lack of transparency from banks. The company needed more transparency with their funds, but there was no option to view all transactions in real-time from traditional banks.
- Available cash at hand. There was little cash at hand available for staff and support workers when they needed it.
Budgetly Solution
Quest Employment Solution booked a demo with Budgetly online and began using their prepaid corporate cards available in physical and digital formats. Budgetly’s virtual cards were set up instantly upon application, and physical cards were shipped out within three business days.
With Budgetly’s cards and expense management solution, staff can transact, capture their receipts using a smartphone, and upload them to the app. In addition, the app automatically records transaction details such as vendor names and amounts, and staff can add clear notes describing each transaction.
Example of the Budgetly app
Example of the Budgetly app
The software lets finance teams see transactions in real-time, giving them greater visibility and control over staff spending. Staff can also use the Budgetly app to request for extra budget when needed.
Example of Budgetly’s transaction view
Example of Budgetly’s real-time employee spending view
Now Quest Employment Solution can eliminate petty cash, stop manual reconciliation and errors, and get better transparency over their funds. In addition, they also have the following expense management functionalities:
- Cancel or freeze cards with a click of a button
- Set budgets to rollover or reset every fortnight
- Instantly issue an unlimited number of visa debit cards
- Flag any unnecessary transactions with Budgetly’s real-time view
- Sync all transactions with Xero
- Eliminate receipt-chasing
- Generate easy and quick transaction reports for audits
Results
1. Easy card issue and set-up. Quest Employment Solution can now issue as many cards as they like for staff without restrictions.
“We now have multiple Budgetly cards across multiple houses. Budgetly makes it easy for us to access our funds on the platform, and there are no restrictions on who can actually use the cards. Plus, the Express Post option makes it easy to get physical cards in a couple of days, in addition to the virtual cards being available instantly.”
Nick Sagade, Accountant
2. Fund transparency. Compared to traditional banks, finance teams now have an overview of company funds, which allows for better management.
“We went to different banks and explained how we operate with multiple participants' money - and needed transparency across this process. However, nothing was available in ‘traditional’ banking. With Budgetly, we have full transparency over what’s being spent.
Nick Sagade, Accountant
3. Full support. Budgetly’s customer support has made using the system easier for staff and finance teams.
“I’ve already recommended Budgetly to other businesses. The support is great as I can call Budgetly straight away and get help as soon as I need it. I think Budgetly’s cost is definitely worth it as it’s economical for how we run our business.
Nick Sagade, Accountant
For more information on Budgetly and how we work for businesses, schedule a demo with us today, or watch a 10-minute recorded demo.
About Quest Employment Solution
Quest Employment Solutions was established in 1987 as a local ACT business. The company provides accredited and customised course training in Aged Care, Disability and Community Services.
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.