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Looks good specially the part "payouts are tied to approval and go out nightly". So I am assuming that once it is approved, it auto pays ? If that is the case,
by codegeek 13y ago
Looks good specially the part "payouts are tied to approval and go out nightly". So I am assuming that once it is approved, it auto pays ? If that is the case, how would/did you deal with the bureaucracy of Accounts Payable at companies ? Departments such as Accounts Payable exist to ensure that they have the power to send you paper checks (yes even in 2014) and are not willing to budge from that specially for larger amounts.
- oq 13y agoThanks! Yup - we batch up all approved expenses nightly and do 1 aggregated debit out of the company's bank account to kick off the payout. You know, we were also initially expecting to face more resistance, but it turns out finance departments actually really did mean well, but the tools (or lack thereof) that they had didn't allow for them to efficiently do a nightly payout. When you're doing things manually, it's more efficient to do things once every 2 weeks or once a month. By putting all of that on autopilot, we actually found the finance departments jumped on it because it's less work for them and the employees are not only happier, but also incented to submit in real time, meaning finance departments finally get real time visibility into expenses rather than having employees shoebox for a month!