Sometimes innovation happens by solving a problem that you personally face. One problem was that we found it difficult to manage team approvals on the invoices we receive from our service providers.
The problem with billing is this: the team members who incur the bill, are typically not involved when the company’s finance team reviews and pays the invoices it gets.
That makes it difficult for finance teams to verify if an invoice is legitimate or fraudulent, which ends up in legitimate bills not being paid on time.
Shark Tank angel investor, Barbara Corcoran, once lost over $388,000 from invoice fraud. The fraudster used a spoofed email address to deceive Barbara’s bookkeeper into wiring the money. The scam was discovered only when the bookkeeper copied Barbara’s assistant in the reply email.
CC Team Members On Invoices
That’s why we’ve introduced a new feature, allowing you to cc multiple people on invoices that you send to your clients. That way, finance teams can check with the team members on cc to ensure that a bill is legitimate.