How Eezee saved 30 hours per month and optimised business cash flow with accounts payable automation

By tapping on Aspire Bill Pay, Eezee is able to reduce their account payable workload significantly while achieving better cashflow by scheduling invoice payments that maximises payment terms.

Company

Founded in 2017, Eezee is Singapre's largest B2B marketplace for industrial and business supplies that aims to make procurement more efficient. The marketplace provides buyers with access to a wide range of brands and products for easy comparison across goods and suppliers. As of 2021, Eezee has more than 70,000 products from about 1,500 suppliers listed on its platform.

Challenge

As a B2B marketplace with over 1,500 connected suppliers, ensuring that all their invoices were paid on time and accurately was a major challenge for Eezee.

The huge number of invoices, coupled with many tail-end suppliers with low-value invoice amounts, called for an automated payment solution that would help streamline their payment processes.

Solution

To solve their accounts payable-related issues, Eezee turned to Aspire Bill Pay.

With Aspire Bill Pay, Eezee was able to process a high volume of transactions by simply forwarding their bills and invoices via email. Additionally, by having their Aspire account seamlessly integrated with their accounting software, Eezee was also able to share bill payment data and perform bank reconciliations automatically.

This eliminated 100% of the manual data entry work, saving them valuable time to focus on growing their business.

Aspire Bill Pay has enabled Eezee to optimise their cashflow by scheduling invoice payments that maximised their payment terms. By doing so, Eezee benefited from better cashflow which is critical in an industry like theirs.

Processing high volume of low-value transactions was a also concern when incumbent banks charged a fee per transaction. With Aspire, Eezee enjoyed free local FAST transfers and low cost international transfers which supported their overall bottom line.

Outcome

With plans for regional expansion, Eezee continues to grow with increasing number of suppliers and customers. This makes it even more crucial for them to leverage on scalable solutions to solve their financial issues internally, specifically in the area of invoice payments and expense management.

With Aspire, they've found the solution that not only solves their financial pain points, but also provides them with a user-centric UI/UX to boost their overall user experience.