Case Study: SPI Logistics streamlines vendor payments and cuts costs with Float

SPI Logistics Chose Float to Bring Their Vendor Payments Into the Digital-Age

The customer, SPI Logistics, faced significant challenges with its outdated vendor payment and expense management system. The logistics firm relied heavily on physical cheques, which were difficult to process remotely, and a single corporate card, which posed a security risk and incurred high foreign exchange fees. They partnered with Float to digitize their financial operations and implement a modern spend management solution.

Float provided SPI Logistics with corporate cards, including USD cards to avoid conversion fees, and a platform for digital expense reporting and virtual cards. The solution automated reconciliation and enhanced security with vendor-specific cards. The results were substantial, saving an estimated $10,000 in fees annually, reducing a monthly reconciliation task from two hours to twenty minutes, and improving security by instantly disabling compromised cards.

SPI Logistics

James Lemmon

SPI Logistics