How Cooinda Terang Inc. Reduced Administration Time Through the Introduction Of Budgetly

Overview 

Cooinda employs 160 staff and support workers to help people with disabilities in their communities. To manage expenses, employees would use a combination of cash and company credit cards and submit receipts to finance teams for approval. 

This admin-heavy process brought about several issues, such as 

• Little expense tracking. Company credit cards offered minimal tracking features to Cooinda’s finance teams and no real-time tracking. As such, administrators would only be able to see receipts and transaction details sometime after they occur.
• Unable to set budgets. The credit cards also didn’t provide budget tracking and setting, which meant finance staff and managers would need to change budgets, get them approved, and inform staff and support workers of any budget changes. 
• Card-sharing. Employees would share one company credit card, which was time-consuming and restrictive. Additionally, the card was not allowed off-site, which meant staff would use petty cash instead.
• Restricted access to cash. The company’s local bank operates with restricted hours during a business working day, so access to cash from the bank is limited.
  
  

Nicole was introduced to Budgetly by her colleague, who proceeded to schedule a demo with the team. 

Using Budgetly’s prepaid corporate card and expense management software, Cooinda can now track transactions easily, set and edit budgets in an instant, and ultimately reduce their administration time 

Our Solution 

Budgetly provided Cooinda with six preloaded company cards for staff and social workers to build a seamless expense management process. With these cards, employees can easily pay for company expenses, capture their receipts using their smartphones, and upload them to the Budgetly app. 

Example of the Budgetly app

Budgetly automatically records vendor names and transaction amounts so that employees are not required to enter them manually. Additionally, finance teams will not have to spend hours on reconciliation, as all transactions are automatically reconciled. 

Example of the Budgetly app

Cooinda finance teams and managers are offered better budgeting and tracking functionalities - giving them much more control and flexibility over their spending. Budgetly provides real-time spending updates for each card, and administrators can now add and remove card budgets with a few clicks.

Card budgets can also be adjusted to roll over or reset every fortnight, saving plenty of time for administrators. 

Example of Budgetly’s transaction view

Example of Budgetly’s real-time employee spending view

Example of Budgetly’s budgeting functionalities 

Besides that, finance teams can also have the following functionalities in managing company expenses:

• View how much of the budget was spent 

• Set spending limits on staff cards 

• Sync all transactions with Xero

• View each employee's transactions 

• Cancel or freeze cards with a click of a button

• Instantly issue an unlimited number of visa debit cards 

• Generate easy and quick transaction reports for audits 

Results 

For Nicole Morris, using Budgetly has provided her with more tracking features to manage company expenses. 

“The biggest challenge we had was being unable to track spending and easily set budgets, and we’d also restricted the use of company credit cards due to how hard it was to manage.  If we didn’t start using Budgetly, we would still be using the credit card with reduced control over our spending.”

Nicole Morris, Finance Officer 

“Budgetly has been a great investment. It’s hard to put a number on the amount of time we spent managing this previously, but I would say that Budgetly has reduced the administration time managing our expenses. It allows us to provide better services to our clients.” 

Nicole Morris, Finance Officer

For Nicole, Budgetly’s easy-to-use functionality meant that both staff and support workers took minimal time to adopt the system - and has since provided many benefits to her company. 

“Budgetly is doing exactly what we wanted it to. It’s easy to use for the whole team, specifically our support workers and finance team, and the financial reporting has also been a massive help.”

Nicole Morris, Finance Officer

Additionally, Cooinda’s finance team can now allocate budgets easily and eliminate card-sharing. As an NDIS service provider, Nicole would recommend Budgelty to other similar organisations due to the high level of support she’s received.

“We’ve been really happy with the level of support from Budgetly. We’re now able to allocate cards and budgets to staff looking after participants as we need them. Budgetly has definitely solved our previous problems and has given us control over how we manage our smaller, daily spending. ”

Nicole Morris, Finance Officer

For more information on Budgetly and how we work for businesses, schedule a demo with us today, or watch a 10-minute recorded demo.