From Silos to Centralization: How WSC Sports Ditched Their Entire Tech Stack for PayEm
- Siloed, complex tech stack
- One bank card used for all expenses with zero visibility or control
- Used Excel for budgeting and forecasting, outside real-time
- Double-entry bookkeeping with days spent on reconciliation
- One centralized platform
- Virtual cards issued for every vendor with total control
- Strategic budgeting and forecasting are based on accurate, real-time data
- Lightening fast reconciliation that saves days each month
"PayEm offered unparalleled centralization, transparency, and control. We didn’t need another procurement tool.”
- Or Tziki, Financial Controller, WSC Sports
How WSC Sports Technologies found the ultimate all-in-one platform
While cutting-edge technology is WSC’s forte, their back office was juggling a siloed tech stack that was outdated and inefficient. WSC Sports Financial Controller, Or Tziki, was frustrated with his team’s inability to work agile and intelligently. “Dealing with the finance team was the bane of every employee’s professional life. We couldn’t keep up with purchase requests or reimbursements. The ‘technology’ we were using wasn’t getting the job done.”
The finance team’s tech stack included Expensify for travel and reimbursements, a P2P platform, and Excel for budgeting. Turning to new technologies, Or’s most significant focus was finding an all-in-one platform that could automate processes from end to end. “As soon as I heard about PayEm, I knew this was going to be a game-changer for WSC Sports.”
Or’s team worked with PayEm Customer Success experts to quickly onboard. Within weeks everything from request to reconciliation was done using one platform: PayEm.
Saying bye to Expensify
The first major change to WSC Sports’ tech stack was leaving Expensify. With PayEm’s customized and automated approval process, employees could finally request the funds they needed, get one-click approval, have a card issued, and upload invoices in a snap. The finance team could quickly reconcile any expenditures without having to chase receipts. This quickly rendered Expensify redundant, and Or’s team was able to save additional unnecessary SaaS costs.
Ditching bank cards
Until they began working with PayEm, WSC Sports used bank-issued corporate cards for all of their non-payroll expenses. This traditional method made for a cumbersome way to pay. The finance team had to sift through hundreds of line items on a few corporate cards to match receipts with their purchases. If there was ever a security issue with a card, the team had to cancel the card, potentially affecting the payment of tens of SaaS subscriptions. With PayEm, virtual cards were issued per vendor or employee, negating the need to match, and since receipt capture was done via the platform, PayEm’s technology did the matching. With virtual cards, Or’s team saved days of work each month in reconciling card spend, there was no longer a security risk, and bank cards became a thing of the past.
Before PayEm, Or’s team used Excel for budgeting and forecasting. Since Excel is entirely disconnected from any real-time data, using Excel created more work and required manual data entry. Excel offered Or no insights on budget vs. actual spend. Since working with PayEm, the finance team uses a technology-driven approach to budgeting. PayEm’s dashboard lets admins see real-time spend, so budgeting and forecasting are based on accurate data, saving the team time and frustration.
One of the most significant changes PayEm brought to the finance team was a deep integration with NetSuite. Before PayEM, none of WSC’s tech stack communicated with NetSuite, requiring double entries and hours of tedious manual work. Because of PayEM’s ERP integration capabilities, the team is now free of cumbersome manual entries. All approval flows and amortizations were set up quickly with PayEm’s easy onboarding, and reconciliation happens in minutes, not days. According to Or, “From requests to PO and card issuing, all the way to payment and reconciliation happens within PayEm, saving us days of work per month since everything is automated. We are PayEm believers.”
Embracing PayEm P2P
The last of their tech stack to go was a P2P platform. As Or put it, “We didn’t see a reason to keep another siloed technology in the mix. PayEm offered unparalleled centralization, transparency, and control. We didn’t need another procurement tool.” PayEm’s P2P offering is fully integrated and ensures end-to-end control that is fully automated. For WSC Sports, this meant no costly errors and a clear budget feedback loop.
Accountants: An end to double entries and faster reconciliation
Employees: Expenses are no longer the bane of their professional lives
Controller: Total control and visibility of company spend all with ONE platform
CFO: A powerful forecasting tool
About WSC Sports
Utilizing advanced artificial intelligence and machine learning, WSC Sports Technologies provides workflow automation for sports media-right owners, from live content to distribution of automatically created short-form videos. The WSC platform analyzes live sports broadcasts, identifies the specific events in the game, produces customized short-form video content, and publishes them to any digital channel, customized and personalized for every need. WSC Sports Technologies clips are used by media companies such as the NBA, MLS, FIBA, Cricket Australia, WarnerMedia, Discovery, Bleacher Report, among others.