Founded in 2020 by Sagar Khatri, Amritpal Singh, and Vamsi Krishna, Multiplier has fast become the leading global employment platform that makes it easy for companies to employ teams internationally without the need to register a legal entity. With a presence in over 150 countries worldwide, Multiplier simplifies the employment process by managing the complexities of local compliance, labour contracts, payroll, benefits, taxes and more, all wrapped up in an easy-to-use SaaS solution.
With a team presence across 35 countries, Multiplier employees are constantly on the move. During such business trips, employees were reliant on a small number of available cards or footing the expenses upfront before being later reimbursed.
This form of expense management left Multiplier’s team with no holistic picture of company expenses in real-time. This became challenging, especially as the business scaled exponentially. To acquire more cards would require lengthy application processes and additional sign-up fees. Multiplier were seeking a better alternative.
Due to Multiplier’s extensive growth, travelling for some divisions is a necessity. Without an expense management solution, budgeting had become a real issue for management due to continuous month-end surprises when budgets were reviewed. As well as the additional time and resource requirements to reconcile claims.
“For organisations with many moving parts like ours, budgeting is important. Being unable to view our state of expenses at any given time causes challenges to modern businesses like ours.”
Sagar Khatri, Co-Founder, Multiplier
Rapidly scaling companies like Multiplier need flexible capital to keep up with their growing pipeline of clients and expenses.
However, getting a credit line for a global company and all its subsidiaries is difficult. Most banks provide credit cards in a single currency, and then charge steep mark up fees on FX transactions. For a multinational company, it’s important to keep these expenditures in check, while also enabling global spend.
Since their launch in 2020, Multiplier has quickly become a force in the Employment industry, rapidly scaling to become a well respected name. However, the inventive business they were building did not align with their traditional finance processes. As a modern company, they needed more flexibility, visibility and control.
This was when they turned to Aspire’s Comprehensive Solutions.
With the power of Aspire’s employee cards, the team now enjoys the flexibility of issuing as many cards as required一without the additional charges or waiting times of standard corporate cards. This means Multiplier can now assign an Aspire card to each employee or project instantly, making it easier to categorise payments and prepare billing when required and at a much faster pace.
By leveraging Aspire’s Expense Management Solution, Multiplier now has full control and visibility of company expenditure at all times, not only during month-end accounting periods. The Multiplier team can now also ensure cards remain in compliance with budgeting by activating spend limits and merchant lock features. These smart features enable management to maintain full control over where and when employees are able to use these cards, reducing unforeseen and uncontrolled spend.
By automating the management process, Multiplier’s finance team can now issue cards to employees with ease, without having to worry about potential non-compliance, misuse or budget oversight.
As a rapidly growing company, Multiplier required flexibility across multiple currencies in their cash flow to effectively manage travel and project expenses. By tapping into Aspire’s Multi-currency Advance Cards, Multiplier can now leverage more flexibility by stretching their capital with:
The Multiplier team can now leverage this increased flexibility globally, and help drive their expansion at a rapid pace.
Predicting what comes next is never easy. Thankfully, our partnership with Aspire has given us just the tools and insights we need to prepare for any scenario. Thanks to our new expense management solution, we can continue to scale and take on bigger and more exciting clients and projects.
Amritpal Singh, Co-Founder, Multiplier