Cale Bulgin Tyler Caskey Jack Thiel Natalie Kidcaff

Streamlining Spend Management

A Talk by Jack Thiel , Cale Bulgin , Natalie Kidcaff and Tyler Caskey

Proudly supported by

About this Talk

Have you been wondering how you can scale your spend management processes with Xero, instead of having to migrate to an ERP system? We've got the webinar for you.

In our series Building an Enterprise-Level System with Xero we prove that if you know what’s available, Xero and its app ecosystem can prevent the need to implement a complex and expensive ERP system.

In this webinar with our spend management partner, Weel, we discussed top tips on how to level up your spend management game and successfully scale your business with Xero.

What to expect:

  • Exploring the pains spend management manifests for larger Xero users.
  • Real-world experiences from Tyler Caskey of The Bean Counters.
  • Solutions from an experienced CFO, Natalie Kidcaff from Beyond CFO.
  • Plus actionable insights from Weel's Sales Director, Cale Bulgin.

About Weel

Weel is Australia’s leading spend management solution, helping businesses better control company spending while freeing up finance teams from the busy manual work behind expense management.

Weel’s instantly issued virtual company cards with built-in spending controls eliminate the need for risky spending practices like sharing company cards. Smart expense reports and receipt reminders allow finance teams to easily report on card spending without the extra leg work. Weel automatically populates the GL code, GST and merchant data, then imports the transaction and receipt into Xero for you. No more month-end marathons, out-of-pocket expenses or lost receipts.

Weel also makes paying bills with Xero a seamless experience. With a single click, bills that have been approved for payment in Xero are imported straight into Weel ready for payment. As the bill progresses through Weel’s approval stages and is paid, this record will also be updated automatically in Xero in real-time.

Because Weel is designed to track and manage all of your company spending in one place, finance teams gain total visibility and control over every dollar spent without spending hours chasing down receipts or pouring over bank statements and email threads.

Pain points Weel helps to solve:

  • Out of policy spending
  • Using traditional business payment products like bank cards make it difficult to track and attribute where money is being spent. Often finance teams are left trying to comb through bank statements, try and match up receipts, and follow up with budget owners to understand if the spend has been approved, one month after it has already been spent. 
  • Receipt capture and expense tracking
  • Without a tool to immediately capture a receipt and record an expenses, receipts are frequently misplaced or lost. To prepare for month end, finance teams lose hours chasing down employees for receipts and expense reports
  • Tracking and managing subscription payments
  • When overseeing a multi-entity operation, getting the full picture on subscription payments is difficult without the right tools. This can lead to double ups of subscriptions, or overspending where subscriptions are left unchecked. If a card expires or becomes compromised, finance teams then spend hours updating every subscription with the details of the physical bank card.
  • Reconciling expenses at the end of month
  • Without a spend management tool to streamline the accounting process, the end of month reconciliation process typically takes the finance team days managing this manually.
  • Getting visibility across all spending
  • When payments are spread across a number of tools (credit cards, bill payment tools, expense management and reimbursement tools), it's difficult for finance teams to get the complete picture of what is happening across the business.

About CFO Techstack

This webinar series is being run by CFO Techstack, the weekly newsletter for forward-thinking finance leaders, especially those who leverage Xero and its ecosystem. It's your go-to guide for transforming the finance function into a strategic powerhouse. Sign up at www.cfotechstack.com or on LinkedIn.

17 April 2024, 03:00 AM

03:00 AM - 03:45 AM

About The Speakers

Jack Thiel

Jack Thiel

Mayday


Cale Bulgin

Cale Bulgin

Weel


Natalie Kidcaff

Natalie Kidcaff

Beyond CFO


Tyler Caskey

Tyler Caskey

The Bean Counters

Weel

Main Sponsor

Want to sponsor this event? Contact Us