Transcript of the video:
SM Indatel.txt
English (US)
00:00:00.840 — 00:00:48.280 · Todd Crow
We are a telecom company that serves rural America, bringing data, Ethernet and telecom services all across America. We operate in 47 states, including Alaska. As we've grown over the last several years, one thing we've noticed is that it's more difficult and more costly to manage our cash and operations through sending checks out.
Some of our suppliers will send us 20, 30 invoices, and we can sometimes pay for those in a single transaction. So rather, we turn to a spend management approach that we looked at our ability to pay for services in our industry with a credit card. This was real simple. You take a picture with your phone of the transaction, upload that into spend management, and it works very well to do that.
00:00:48.280 — 00:00:57.520 · Kasey Robinson
All you have to do is take a picture of the receipt and hit save and move on. For me and my team, I would say it probably saves me a total of 2 to 3 hours a month.
00:00:57.640 — 00:01:10.240 · Todd Crow
Instead of having to create an expense report and then categorize all of the activity in that, we have an opportunity to categorize the expenses through auto categorization. I've found it to be a very powerful tool.
00:01:10.480 — 00:01:18.520 · Kasey Robinson
No dreaded end of the month reconciliation anymore. Um, it is the easiest tool that I've had in my career.
00:01:18.560 — 00:01:48.760 · Todd Crow
Once we recognized how much we were using spend management for our telecom spending, it made sense to request a credit line increase. We asked to over double our credit line increase, and that allowed us to play the float at the same time. So we make use of a money market account, allows us to bring employees on, allowed us to just let the system work automatically.
If you want to make efficient use of your money, um it's your money, you should be earning money on that. And that's the thing that you kind of need to use all these tools to your advantage.