"We can pay employees back faster using Corpay One's payments platform. It's a win-win."

The Bank Novo Team
Company
Novo
Location
New York, New York
Employees
40+
Industry
Banking

Novo: Automated Expense Management with Corpay One

Novo is a business banking platform built for today’s business owners. Like Corpay One, Novo is designed to make running a business easier for small business leaders, startup founders and finance team leaders. 

Their goal? Bring small business banking into the modern age by offering free business checking accounts - with no fees or hassle behind-the-scenes. 

To help Novo scale and grow successfully, they rely on Corpay One to automate their back-office finances and offer their expanding team a better way to process receipts and get reimbursed for their expenses. Novo joined after hearing about Corpay One’s payments automation technology from a fellow business owner.  

To tell their story, the Corpay One team connected with Florian Gendeau, their FP&A Manager. He’s been with Novo since 2018 and leads the finance function for the team. Novo is based in New York City.


How Novo uses Corpay One

One of the benefits of Corpay One is the ability to onboard your entire team - at no additional cost and with limited resources spent training and getting started. 

Plus, you can customize your permissions and ensure users only have access to the functions they need, like submitting bills and receipts. 

“We decided to use a tool like Corpay One for the ability to have all managers involved in the bill approval process since Corpay One’s pricing is based upon the number of bills paid through Corpay One and not the number of seats,” Florian says. 

“It facilitates transparency for managers, plus gives us the ability to define workflows based on the type of bill that needs to be paid.” 

Novo has onboarded the majority of their team to Corpay One. 

Contributors and managers alike are using Corpay One’s Inbox, Workflow and Reimbursements features - all while syncing important data to their QuickBooks Online account.

Corpay One’s Reimbursements feature officially launched in July of this year. It’s quickly become a team favorite among users at Novo. 


Automating team expenses 

Reimbursements and managing expenses are a frustrating part of day-to-day business - no matter where you work. That’s why Corpay One built an automated expense management system to make it easier for team members to upload receipts and organizations, like Novo, to pay their employees back!  

"As a manager, I understand how frustrating it can be for employees to have to submit long, slow expense reports. It's a waste of time. But, with a tool like Corpay One, we're able to cut that time by 75%. The process is automated, and we don't need to worry about chasing each other around for approvals. Plus, we can pay employees back faster using Corpay One's payments platform. It's a win-win,” Florian says. 


Using Corpay One to hone strong team communication

One of the most difficult processes to scale at a growing organization is communication. It’s necessary to keep in touch with your team about everything, from the best place to grab a morning coffee to the next big project you have underway. But, when it comes to following up on expense-related communication, that’s when things get frustrating. 

Without a tool like Corpay One, asking for expense approvals becomes a slow, manual process. 

That’s why Novo has also integrated Corpay One into their Slack. Corpay One’s Slack integration enables teams to automate expense-related communication, so you never lose track of an important conversation about an expense. 

Plus, you can approve or decline expenses without ever leaving Slack.


About Corpay One 

Corpay One is on a mission to redefine the finance function - for good. Corpay One's all-in-one finance automation platform empowers business leaders to take back their work day, eliminating excess finance team work and breathing efficiency into everyday, essential tasks.

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