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Coworking company United Spaces set to expand with payment startup Payer while experiencing 80% cost efficiencies in CFO office

Payer Financial Services AB
2021-05-17 14:37 721

STOCKHOLM, May 17, 2021 /PRNewswire/ -- Swedish B2B payment startup Payer is expanding with United Spaces, a client within coworking business. United Spaces selected Payer in 2019 to facilitate B2B payments from their members at 4 office locations across the country. Payer is now chosen to continue the expansion as the main supplier. The expansion is seen from the backdrop of great cost effectiveness in the finance department due to digital automation.

The cooperation between the two companies started in 2019 as United Spaces was searching the market for a payment supplier that could design B2B payment processes that both solves the user experience on the front and back-end. For the members of the coworking offices, a great digital experience was key. For the finance department, automation and cost efficiencies was something that they hoped for as a result of an implementation.

The technical solution was an integration of Payer's B2B API platform with their membership app. At the same same time Payer made sure to automate all bookkeeping by connecting Payer's API platform to United Spaces ERP for near real-time accounting and reporting.

The results  have exceeded United Spaces expectations.

"The result after implementing Payer has been incredible for the finance department. We are spending 80% less time on invoicing and payment collection than we did before. On top of that, invoices are actually paid 30% faster. It's a proof point that the payment experience for our members is top-notch", says Joakim Helbig, CFO at United Spaces.

As United Spaces has expanded their coworking arenas across Sweden, from 4 to 9 locations with the 10th open up this autumn, Payer has been selected as a long-term partner.

"I believe that this setup we have built together with Payer could work as a blueprint for any finance department of the future. Digitisation and automation is meant to make work life much more simple and efficient. We have achieved everything and more with Payer. There is no reason to stick with manual processes related to invoicing and payment collection. As we expand to additional locations across the country we want to continue our journey together with Payer", says Mr. Helbig.

"We are of course incredibly happy to be trusted by United Spaces in their expansion. We worked hard on the details in the development of the payment solution for them and it really paid off. Magic is created by hard work and the results speaks for itself", says Peder Berge, CEO and founder of Payer.

Facts:

What? 

A B2B payment solution for the coworking space within the real-estate business.

How?

Integration of Payer's API with the membership app for iOS and Android. An integration was also made to the bookkeeping system, Fortnox, to automate all invoicing, dunning, payment collection and reconciliation.

Result:

  • Automation made it possible to spend 80% less time on invoicing
  • The invoice-as-a-service solution helped the client get paid faster and increased the cash flow. 
  • Due invoices are paid in 27% shorter time. 
  • Invoices paid more than 30 days after the due date has decreased by 21%.

Read the full success story at payer.eu.

CONTACT:

For more information and requests for interviews, please contact:

Stefan Backlund CMO, stefan.backlund@payer.eu

This information was brought to you by Cision http://news.cision.com

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Source: Payer Financial Services AB
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