Offering smart solutions that make a difference. Request a free consult.

BLOG

Weel: A Case Study

Learn how ‘Total Earth Care’ were able to eliminate debt, control spending, and improve expense management processes with the help of one powerful software tool.

275047480_3783711395187541_1028131861587980196_n

Expense Management and Debt Reduction

for our Client

In today’s competitive business landscape, companies are constantly seeking ways to optimise their operations, reduce costs, and improve profitability. One area that often receives attention is expense management, as uncontrolled spending can quickly erode profits and hinder growth.

For Total Earth Care, a growing environmental services/construction company, excessive employee spending and a mounting credit card debt of $50,000 posed a significant financial challenge.

The Challenge: Uncontrolled Spending and Mounting Debt

Total Earth Care’s traditional credit card system lacked the necessary transparency and controls to effectively manage employee spending. Without clear spending limits or a robust expense tracking system, the company struggled to keep track of expenses, rein in overspending, and make informed financial decisions.

As a result, the company’s credit card debt steadily grew, reaching a limit of $50,00

The Solution: Weel Prepaid Cards and Expense Management

Seeking a solution to their financial woes, we recommended Total Earth Care turn to Weel, a prepaid card solution specifically designed for businesses.

Weel offered several key advantages that addressed their specific needs:

Implementation and Impact: A Transformation in Expense Management

Total Earth Care wholeheartedly embraced Weel, replacing their traditional credit card system with Weel’s prepaid cards. The company also set individual spending limits for each employee and established clear spending guidelines.

The impact was immediate and transformative:

“Weel has been a game-changer in our business. It has helped us eliminate debt, control spending, and improve our expense management processes. Our employees are happier and more accountable, and we have a clear path to financial stability.”

– Andrew McGahey, Director

Weel; A Valuable Tool for Financial Transformation

By providing a comprehensive solution for expense management and debt reduction, Weel enabled Total Earth Care to regain control over their finances, improve their financial health, and lay the foundation for future growth. 

They have reduced their credit cards from 8 to 3 holders, and have implemented spending limits via a system of Project Managers approving spending and reimbursements on a set budget, and rules set up within Weel, to alter Management for an instant increase when required, streamlining the process of purchasing.

The overall debt is now significantly reduced and spending is under control through the accountability of each staff member having a Weel app in their phone. They know their exact spending limit and can upload their receipt straight back to the admin staff for effecincy.

Weel’s success here highlights its potential as a valuable tool for businesses seeking to streamline their finances, achieve financial stability, and enhance employee satisfaction.

Get Started Today.

Weel is the key to financial freedom for your business and First Accounts are proud to be a Weel partner.