Case Study: Copper cuts month-end close time by 78% with Teampay by Paystand

Copper cuts month-end close 78% with Paystand

Copper, a software company, faced a significant challenge as its finance team struggled with manual management of employee purchases, receipts, and reconciliation. This process was causing their month-end close to take nearly two weeks. The use of physical cards created a lack of spend control and visibility, leading to ambiguity for employees and excessive follow-up work for the finance team during a period of company growth.

By implementing Teampay by Paystand, Copper automated approval workflows and introduced controlled virtual cards with a NetSuite integration. This solution provided the finance team with greater visibility and control, moving expense data into the books with far less manual effort. As a result, Paystand helped Copper cut its month-end close time by 78%, reducing it from 14 days to just 3-4 days, and prevented $13,000 in out-of-policy spend without the need to hire additional accounting staff.

Copper