Automating the Automation Company - How Mend Saved Using PayEm
Overview
Without PayEm
- Worked for years with zero automation
- The team had no time to focus on strategy
- Closing the books took more than a full work week
- Employees had to wait for purchase approvals & reimbursements
With PayEm
- Eliminated all manual work for the finance team
- Finally had time to focus on strategy, like employee cards
- Saved an average of 5 days each month
- No more waiting for purchase approvals and reimbursements
“I knew automating our systems would make a difference; I just didn’t realize how big an impact.”
- Ilan Sidi, CFO, Mend
Challenges
Automating without automation
Although Mend’s technology is centered around automation, its finance team had not implemented automated processes and had been relying on manual methods for several years. For veteran CFO Ilan Sidi, the lack of automation and visibility was a source of constant frustration. Knowing that his team would be better served focusing on strategic decision-making rather than tedious manual work, Ilan decided to find technology that could automate rather than frustrate his team.“ We were simply wasting time on tasks that, with automation, would be easy. For a company that helps customers automate their tasks, it felt wrong that we didn’t have the right tool. PayEm was exactly what we needed.”
Solutions
Automating the automation company
PayEm’s Customer Success department deployed a seamless NetSuite integration, including fully automated finance and reconciliation flows, eliminating all manual work for the Mend finance team. Within days, the Mend team was able to save money on overlapping Saas subscriptions.
With reconciliation flows under control, Ilan’s team finally had time to focus on strategy, which included offering employee credit cards. Using the PayEm platform, travel expenses stayed on budget, and employees no longer had to wait for approval. Cards were quickly issued, payments were then made and matched automatically, all while syncing with NetSuite. “I knew automating our systems would make a difference; I just didn’t realize how big an impact,” says Ilan.
Outcomes
Savings, savings, savings
By fully automating workflows, the Mend team saved. They saved significant time closing the books– an average of 5 days each month. They saved money on unused and overlapping SaaS subscriptions. They also saved employee frustration; once approval flows were automated, employees no longer had to wait for purchase approvals or reimbursements.
About Mend
Founded in 2011, open source automator Mend helps businesses all over the world to develop better software by helping developers select, approve, track, and manage open source components. Mend’s solution supports all programming languages and seamlessly plugs into all popular build tools. Founded in 2011, automation is at the heart of Mend’s technology, and it’s what they empower their clients with.
