Changing the very way the world outsources tasks, Fiverr is an online marketplace that connects businesses with on-demand freelance talent offering digital services in more than 400 categories across 8 verticals. Since its inception, the company has grown by leaps and bounds with a global footprint including offices in Tel Aviv, New York City, San Francisco, Orlando, Phoenix, Guatemala City, London, Berlin, Vienna, and Kyiv.
Disrupting their financial pain points
Fiverr has disrupted how freelance talent is hired, bringing its finance team usual challenges. Those challenges included chaotic vendor management, issues with credit card reconciliation, zero visibility on SaaS subscriptions, and an accounting team overburdened with manual receipt collection.
With a decade of purchasing experience, Or Hecht, Fiverr's Procurement Manager, knew his team needed a modern technological solution for the Fiverr team's challenges. His focus was finding a product that could automate processes from approvals to reconciliation, focusing on ERP automation. This proved to be a tall order. He quickly realized that there weren't many solutions available, until he discovered PayEm.
PayEm's customer success team worked closely with Fiverr to uncover the pain points which were causing inefficiencies. To Or's delight, "switching to PayEm was effortless and has made us so much more efficient- It's the best decision we made."
"We've saved countless hours using PayEm's automated reconciliation. Our team is happy, our employees are happy- what a difference."
Or Hecht, Procurement Manager,
The automation advantage
The first item of business was onboarding the Fiverr team- a task which was embraced as soon as team members learned how their ERP automatically synced with all vendor card purchases, erasing the need for chasing down receipts. As one accountant announced, "We've saved countless hours using PayEm's automated reconciliation. Our team is happy, our employees are happy- what a difference." Or estimates that by eliminating manual tasks, each team member has saved DAYS a month on average.
Beyond the team's enthusiasm, Or could find savings in a place he hadn't considered: overlapping SaaS subscriptions. PayEm’s platform offered full visibility into Saas subscriptions. The team was able to identify unused or overlapping subscriptions, gaining instant savings.
A newfound efficiency
PayEm's vendor card-to-ERP automation has brought efficiency, control, and visibility to the entire team. With the addition of cost and time savings, Or's vision of bringing technology to his team has been embraced. "We are delighted with the work that we have done so far with PayEm; it has saved days of manual work each month using their platform and automating our reconciliation processes."