Let's face it. 2020 was a difficult year. Globally, COVID-19 uprooted the health, lives and livelihood of people the world over.
In March, 2021, Roger officially became Corpay One. To learn more and understand the change, read this blog post.
Reflecting on the past and looking forward to the future. Here's what Corpay One (Formerly Roger) released in 2020 and where we're taking accounting automation in the future.
Small businesses felt it particularly hard. A survey from the United States government taken at the height of the first wave of COVID-19 found the median business with more than $10,000 in monthly expenses had only about two weeks of cash flow. Another survey found that 88% of businesses had already exhausted their Paycheck Protection Program (PPP) loans by September. Yet another report found that over half of small businesses were forced to lay off employees due to COVID-19's economic impact.
Still, there were silver linings everywhere. We kept up-to-date with the ingenuity our customers applied to their business. Everywhere, we could see retailers unlocking the power of e-commerce and restaurants testing new revenue models. The tech companies who use Roger as the foundation for their finance function found new ways to help their customers navigate changing economic landscapes and new ways of working.
At Roger, we did the same thing. We adapted to our customers needs and doubled down on the updates and features we knew would help our customers navigate these uncertain times (as cliche as it sounds).
Here are all of the new things our team launched in 2020. And, how Roger intends to serve you even better in 2021.
Automated expense management is a must for modern teams. Too many frustrated employees are spending hours by the photocopier, stuffing printed receipts into internal mail trays. In turn, too many frustrated employers are suffering from lost productive time and the dangers that come with lost receipts. By automating expense management, in your accounting automation flow, you build more sustainable processes into your business. This helps you achieve growth, while making day-to-day tasks more bearable for your team. Read more.
Roger already automated hands-free ACH and Check payments at the start of 2020. In Q1, we rolled out International Wire payments, making it easier for businesses to automate payments and ensure their accounting system is completely up-to-date, even where international transactions are concerned.
Instant, no-fee DirectPay is the fastest-growing payment method in Roger. That's because it's free for Roger customers. No waiting for checks to be cashed and no waiting for ACH payments to clear. Payment happens instantly, with a virtual credit card (this is what we call DirectPay) delivered right to the accounts receivable email for the vendor you're working with. Read more.
Along with DirectPay, we introduced CashBack. It's currently in Beta right now for our USA customers. For using DirectPay, we reward Roger customers with cash. For every $10,000 in payments you make, you get $20. The average business using DirectPay gets $2,200 a year. That's enough to really be able to invest in something for your organization.
Note: This feature is currently only available for our USA-based customers.
Say goodbye to missing documents. This feature works by taking uploaded .CSV statements from your bank or credit card, then matching them with documents uploaded to Roger.
You can now: automatically match transactions to existing documents in your Roger Inbox. Match a document manually by uploading it to Roger or assign a co-worker to upload the corresponding document by extending the use of Workflows. Read more.
Time off is essential to creating work-life balance. But, it can also cause disruptions in your accounts payable and accounting processes. We introduced Away Mode so you can appoint another approver when you're out of office.
Bills and credit notes are a part of working with any vendor. But, you need to make sure you can account for all of the instances where funds are returned to you. Gone are the days of doing mental math with your Inbox open. Now, you can apply credit notes to bills from the same vendor - and see the remaining balance on your credit note.
Roger's Inbox can now convert any email sent to your RogerAddress to a document. Of course, this only works when the email itself is a record of a purchase or an invoice. Certain vendors embed receipts in the email itself, rather than an attachment, for example. Or, vendors will email your RogerAddress with things that are not payments related at all.
You can choose to archive the email (if it isn't relevant to paying and managing expenses) or, convert that email to a document.
One-click document uploads - without ever leaving Gmail. That's the beauty of this new, productivity-boosting Chrome Extension. Just install and click the Roger icon on any of the emails you get with a receipt or bill attached. Get it here.
Switching back and forth between platforms is a drain on productivity. So, we launched Roger's Slack integration. You can now approve or decline bills and receipts right from Slack. Or, you can tag co-workers in Slack to follow up on documents for more details.
This year, Roger opened our doors for business in the United Kingdom. Currently Roger UK is in beta, with the option to start making automated payments in Roger coming in 2021.
Roger helps accountants and bookkeepers automate client accounting services. Our Advisors make it easier for their staff and clients to manage day-to-day payments and accounting, so we made it even easier for them to leverage Roger as a tool for growth.
We built a brand new Advisor experience, shaping our Advisor dashboard around the concept of client success. Our Advisors are empowered to upload and onboard clients in a more organized, streamlined way. Plus, they are able to get an overview of client health and understand what more they need to do for their clients in order to use Roger to the fullest.
Now that we're firmly in 2021, we're laying the groundwork for another year of customer-driven innovation.
Here's what is already in the works:
Renewed focus on Advisors: Now that we have our Advisor dashboard, we are seeking constant opportunities to build a better platform to meet the needs of our Advisors and their clients. 2021 is going to be filled with opportunities for Advisors to share their input on the Roger roadmap and help us better tailor our experience for you.
Reimbursements: We're making it more user-friendly and even more streamlined. We've heard your feedback and we're addressing it with our next update.
Workflows: Workflows is the real workhorse when it comes to Roger's automation power. This is the best way to automate tasks like bookkeeping, approvals, payments and accounting for your organization. So, we're building a more intuitive Workflow builder. We are making it even easier to automate the processes that would otherwise slow you down.
Onboarding and Support: Our team is growing. With it, we're welcoming more product specialists who are here to help you get started. Know someone? We're hiring!
Inbox Improvements: This is where our customers spend most of their time. So, we're doing everything we can to make this the most seamless experience possible. Stay tuned for updates!