Employee Cards & Claims

How QCP Streamlined Finance and Saved Over 1,300 Hours a Year Powered by Aspire Expense Management

Published on
March 26, 2024
— Aspire Journey
saved per year
saved per year
Before Aspire
  • Manual and tedious finance processes drained time and resources
  • Juggling between multiple service providers and tools added unnecessary complexity
  • Challenge to plan budgets without a consolidated view of employee spending  
After Aspire
  • Automated expense management reduced processing times and increased productivity
  • A versatile, all-in-one platform that could support their operational needs
  • Aspire cards empowered employee spending while giving full budget control
Company Size
Darius Sit
Case study focus
Expense Management

The Company: A pioneering digital asset trading firm in Singapore and global market maker in derivatives  

Established in 2017, QCP is one of the first digital asset trading firms in Singapore, with a vision to partner with the next generation of investors to unlock institutional opportunities in digital assets. 

QCP brings to clients deep expertise gained from thriving through multiple market cycles. A global market maker in digital asset derivatives with a vast network of liquidity providers and counterparties, they are shaping the future of digital asset markets through greater access and efficiency. 

QCP offers a range of tailored derivatives and spot trading as well as structured solutions to institutional, professional, and accredited investors. They also provide 24/7 liquidity across various markets in partnership with various exchanges and platforms. 

Headquartered in Singapore, QCP is supported by a strong team of professionals in trading, business development, operations, risk, and compliance teams. QCP’s insights cover weekly trading updates, and monthly and quarterly views, and are accessible on social platforms such as Telegram, Twitter, LinkedIn, and more.

The Challenges: Manual and tedious finance processes

As one of the pioneers in Singapore’s digital asset space, QCP needed an enterprise finance tool that could not only cater to their business needs but also help streamline their operations. 

#1 Inefficient financial processes

After frequent travel in the region, QCP employees and teams had to manually expense business trip costs, making claims unnecessarily tedious. The Finance team had to review and validate each expense before handing over to HR for reimbursement to be processed via the monthly payroll cycle, causing delays before employees could receive their reimbursements. The finance team also had to spend additional time approving individual transactions and payments to vendors.. 

# 2 Unnecessary complexity from managing multiple financial service providers 

To support their business growth and expansion in the digital asset markets, QCP uses several different service providers for their business needs. This could mean maintaining separate business accounts for domestic and international transfers or using standalone tools just to track spend. As a result, they realised that having an all-in-one enterprise finance tool would increase efficiency and productivity in the long run.

#3 Difficulty in tracking company spend and budgeting  

Previously, QCP faced challenges with being able to issue multiple corporate cards to cover employees’ travel and entertainment expenses. This resulted in low visibility of employee spend, requiring QCP to manually track and match expenses. In addition, the finance team could not extract useful insights, making it difficult to plan team budgets effectively.

The Solution: Versatile Expense Management and Cards for Web3 businesses

With Aspire’s reputation as a trusted partner for modern Web3 businesses, QCP found a solution to complement their business growth in the digital asset industry. QCP was able to leverage Aspire’s easy-to-use corporate cards and seamless expense management to streamline their financial operations, save time, and improve productivity.

#1 Fully integrated, end-to-end expense management saved time and enhanced productivity

Aspire’s powerful expense management features like one-click upload, bulk send, and automatic capture drastically reduced the processing time needed for employee expenses and claims. QCP also leveraged Aspire’s built-in “Bills Pay” feature to easily pay vendors and process invoices quickly. Since expenses were automatically tracked and synced, bookkeeping was a breeze, freeing up the finance team for more important tasks.

#2 Found a forward-thinking partner and versatile all-in-one platform for their business needs

Operating in the fast-paced digital asset markets, QCP needed an agile and responsive financial partner for their business. As a leading fintech company in the region and trusted by over 15,000+ businesses worldwide, Aspire’s all-in-one platform provided the solutions and support that QCP needed. The Aspire Business Account was quick to set up and served as a full-suite finance management solution.

#3 Aspire cards empowered employee spending while giving full budget control

QCP could easily adjust budget limits for employees and teams using Aspire’s corporate cards. In addition, Aspire’s integrated expense management platform provided a consolidated view of all employee spending. This empowered employees to spend responsibly while eliminating lengthy approval times for limit increases.

“Using Aspire, which is easy and user-friendly, has helped cut down unnecessary steps and delays in our claims and reimbursement processes. Combined with instant virtual cards, we can see, track, and approve expenses all within Aspire, which helped streamline our finance setup.”
Jeffrey Lim