Overview

Lady Pamela is a 30m/100ft luxury motor yacht available for charter in Australia. Built by Benetti–Azimut in 2001 and refitted in 2018, she offers an Italian-style finish and sophisticated design. 

Prior to Budgetly, Lady Pamela (Yacht Charters) were utilising credit cards in multiple people's names across multiple entities across multiple different financial institutions (directors' names across NAB, Westpac, ANZ etc).

This came with several challenges:

Challenges

• Chasing receipts. Chasing receipts for transactions during yacht charters was difficult due to travel and the lack of a receipt capture app prior to Budgetly. Identifying the staff member responsible for each purchase and losing receipts was common due to the travelling nature of the business.
  
  

• Breached spend policies. Operating in the yacht charter industry requires a higher level of control over spending. With various allowances for meals, activities, and other specific expenditures within certain time frames, relying on credit cards proved to be an impossible task. Additionally, the Lady Pamela (Yacht Charters) finance team had to painstakingly review each credit card statement at the end of the month in an attempt to reconcile expenses and proactively ensure adherence to spending policies. They discovered that spending policies were occasionally being breached.
  
  

• Manual Reconciliation. With casual staff that may only be employed for one voyage, it was difficult to provide funding because of how long it takes for banks to approve and issue credit cards.

Results

1. No more chasing receipts!

The app makes it easy for staff to upload receipts at the point of purchase (even on a boat!) and sends a notification to prompt staff. The receipt and transaction information is then instantly available for the Lady Pamela (Yacht Charters) finance team to review. 

"We’ve saved two full days per week, not chasing receipts or employees for other transaction information."

Kaitlyn Farrance, Bookkeeper

2. Complete accountability

Cards can be issued to staff who need them and virtual cards are instant if there are a few one-off purchases that need to be made by a casual staff member. All transactions are tracked per staff member and per business entity so Lady Pamela (Yacht Charters) now have both transparency and accountability.

“There are now no more unauthorised transactions because we can see who’s spending what. They can’t overspend, because the ‘budgets’ function prevents that.”

Kaitlyn Farrance, Bookkeeper

3. Instant card issuing

Lady Pamela (Yacht Charters) can issue cards instantly without having to jump through all the hoops of applying at a regular bank, set spending rules, instantly top up budgets, track transactions in real-time, and send all the info to Xero by clicking one button.

“With new staff members or charters, we can issue cards and funds for spending instantly.”

Kaitlyn Farrance, Bookkeeper

4. Ten out of ten support :)

Every Budgetly customer has unlimited free telephone support, 1 to 1 screen share video training email support and live chat support.

"The support is very responsive & detailed when we need it!"

Kaitlyn Farrance, Bookkeeper

How Lady Pamela (Yacht Charters) saved time and stopped overspending with 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, Lady Pamela (Yacht Charters) 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. 


           

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 project or location.

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

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

Lady Pamela (Yacht Charters)

Lady Pamela is a 30 m / 100ft luxury motor yacht available for charter in and around Australia.  With a finish in Italian style, she was built by world-class ship builder, Benetti – Azimut in 2001 and refitted with an innovative style and sophisticated design in 2018.

She is built with a GRP hull and superstructure and is powered by 16V 2000 MTU engines giving her a maximum speed of 22 knots and a cruising speed of 12 knots, allowing a smooth and comfortable experience onboard for every guest.

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.