Case Study: Hopeless Records saves time and money with Veem

Hopeless Records shrinks royalty payments from two weeks to one day with Veem

Hopeless Records, a record label based in Los Angeles, faced a significant challenge when their bank began charging new fees for outgoing wire transfers and ACH payments, cutting into their margins. With a complex process of sending royalty payments to over 500 payees, which previously took two weeks, the company needed a more efficient and cost-effective solution. They turned to Veem and its Mass Pay service to streamline their accounts payable.

By implementing Veem's batch payment processing for both domestic and international transactions, Hopeless Records dramatically reduced its royalty payment cycle from two weeks to just one day. This efficiency saved the company an estimated 40 hours on the payment process and $4,800 annually in bank fees. The solution provided by Veem freed up valuable time for business building and offered a more affordable way to handle international payments.

Hopeless Records