“Time is money and Budgetly has helped save a lot of time. I used to spend a full 8 hours reconciling a month, Budgetly lets me do this in a matter of minutes”.
Judi McDonald, Operations Manager
Overview
SOMAI Pharmaceuticals is an EU-GMP European pharmaceutical and biotech company centred on manufacturing in Lisbon, Portugal, and distributing EU GMP-certified cannabinoid-containing pharmaceuticals globally. SOMAI combines scientific pharmacology applications with EU-GMP standards to effectively and consistently deliver treatments to the endocannabinoid system across all markets.
Staff at SOMAI Pharmaceuticals were previously using bank cards which came with several challenges:
Challenges
-
Tracking and chasing receipts: Chasing receipts meant valuable time spent away from important, daily tasks at hand. Using bank cards prior to Budgetly meant an overwhelming time spent on manual labour in tracking and collecting receipts.
-
Time spent on admin: Without Budgetly, staff would be spending hours manually each month in reconciliation and chasing receipts, which has been deemed to be mind-numbing and frustrating.
-
Manual reconciliation: Staff were previously downloading transaction reports, reconcile each payment with receipts and in the case without receipts, staff had to follow up consistently. It was a tedious process.
Results
1. No more chasing receipts!
No more time spent tracking staff down with receipts as this can be completed instantly in a matter of minutes with Budgetly.
“Loving that we no longer need to do this as receipts can be done instantly and reconciling now only takes a couple of minutes each month!”
— Judi McDonald, Operations Manager
2. Instant Budget top-ups – anywhere, anytime
Staff at SOMAI Pharmaceuticals can access real-time view of budgets to allow them to see everything at the click of a button. Staff can top up or reduce budgets by clicking one button and the changes are instant.
“Budgetly has made things SO much easier, especially with our Head Office being overseas in a different time zone.”
— Judi McDonald, Operations Manager
3. Empowered employees to save receipts easily
SOMAI Pharmaceuticals can issue cards instantly for staff who need to make purchases and can freeze or cancel them at the click of a button. The mobile app prompts staff to upload their receipts as soon as they tap their card and all transaction information is available in the real-time dashboard.
“Budgetly makes it easy to work without heading into an office. We can quickly give staff access to additional funds if and when they need it.”
— Judi McDonald, Operations Manager
4. Fabulous support!
Every Budgetly customer has unlimited free telephone support, 1 to 1 screen share video training email support and live chat support.
“Given how straightforward and user-friendly it is, we haven’t actually needed Support so far!”
— Judi McDonald, Operations Manager
How SOMAI Pharmaceuticals ditched the manual admin work by using Budgetly!
Budgetly prepaid corporate debit cards are available in physical and digital formats, with virtual cards available instantly upon application. Staff can add Budgetly’s virtual cards to their mobile wallets and use them immediately in any location.
With Budgetly’s preloaded cards, SOMAI Pharmaceuticals staff can transact, capture their receipts using a smartphone, and upload them to the app. In addition, Budgetly’s expense management software automatically records transaction details such as vendor names and transaction amounts.
Support staff can also add notes to each transaction and assign them under categories and tags set by finance teams. This allows the team to easily filter and view relevant transactions based on tours or expense categories.
Finance teams can allocate budgets for each card and set spending limits to avoid overspending. Additionally, these budgets can be automated to reset or roll over every fortnight.
Example of Budgetly’s budgeting functionalities
Requesting a money top-up is hassle-free on the app, and finance teams can approve them with a click of a button. In addition, all staff transactions can be viewed on the software, giving administrators more control over company budgets.
Example of Budgetly’s budgeting functionalities
Budgetly offers additional expense management functionalities: |
Issue unlimited Visa debit cards instantly
|
|
Flag unnecessary transactions in real-time
|
Eliminate lost receipts & receipt-chasing |
|
Automatically reconcile transactions
|
Sync all transactions with Xero |
|
Fast transaction reports for audits |
Cancel or freeze cards in one-click |
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 SOMAI Pharmaceuticals
SOMAI Pharmaceuticals is an EU-GMP European pharmaceutical and biotech company centred on manufacturing in Lisbon, Portugal, and distributing EU GMP-certified cannabinoid-containing pharmaceuticals globally. SOMAI combines scientific pharmacology applications with EU-GMP standards to effectively and consistently deliver treatments to the endocannabinoid system across all markets.
With an office in Melbourne, VIC, they are on a journey to build a leading global brand with the most robust portfolio of innovative cannabis-based therapeutics.
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.